Ryan Specialty (NYSE:RYAN) Reaches New 52-Week High – Should You Buy?

Ryan Specialty Holdings, Inc. (NYSE:RYAN)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $75.93 and last traded at $75.83, with a volume of 110370 shares. The stock had previously closed at $75.09.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Bank of America boosted their price target on Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company increased their target price on shares of Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. UBS Group lifted their price target on shares of Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. BMO Capital Markets raised shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $65.00 to $75.00 in a research note on Tuesday, September 24th. Finally, Barclays lifted their target price on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $71.67.

Ryan Specialty Stock Up 0.4 %

The company has a fifty day moving average price of $70.23 and a 200-day moving average price of $63.28. The stock has a market capitalization of $19.74 billion, a P/E ratio of 97.92, a PEG ratio of 1.70 and a beta of 0.62. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.41. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The business had revenue of $604.69 million for the quarter, compared to analysts’ expectations of $602.04 million. During the same period in the prior year, the firm earned $0.32 EPS. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, research analysts forecast that Ryan Specialty Holdings, Inc. will post 1.8 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were issued a $0.11 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.58%. Ryan Specialty’s dividend payout ratio (DPR) is presently 57.14%.

Insider Activity at Ryan Specialty

In related news, EVP Mark Stephen Katz sold 14,790 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $71.39, for a total value of $1,055,858.10. Following the completion of the sale, the executive vice president now directly owns 12,386 shares in the company, valued at $884,236.54. This trade represents a 54.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David P. Bolger sold 7,055 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $70.88, for a total transaction of $500,058.40. Following the transaction, the director now owns 78,149 shares in the company, valued at $5,539,201.12. This trade represents a 8.28 % decrease in their position. The disclosure for this sale can be found here. 11.10% of the stock is owned by insiders.

Institutional Trading of Ryan Specialty

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Ryan Specialty by 96.4% during the second quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock worth $35,000 after purchasing an additional 297 shares during the last quarter. Anderson Hoagland & Co. boosted its position in Ryan Specialty by 1.2% in the 2nd quarter. Anderson Hoagland & Co. now owns 51,615 shares of the company’s stock valued at $2,909,000 after buying an additional 624 shares during the period. Renaissance Capital LLC grew its stake in Ryan Specialty by 45.1% in the 2nd quarter. Renaissance Capital LLC now owns 91,929 shares of the company’s stock worth $5,324,000 after acquiring an additional 28,565 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Ryan Specialty by 327.9% during the second quarter. SG Americas Securities LLC now owns 19,481 shares of the company’s stock worth $1,128,000 after acquiring an additional 14,928 shares during the period. Finally, Mechanics Bank Trust Department bought a new stake in shares of Ryan Specialty during the second quarter valued at approximately $376,000. Institutional investors own 84.82% of the company’s stock.

About Ryan Specialty

Ryan Specialty Holdings, Inc operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers in the United States, Canada, the United Kingdom, Europe, and Singapore. It offers distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter.