Ryan Specialty (NYSE:RYAN) Issues Earnings Results, Hits Estimates

Ryan Specialty (NYSE:RYAN) issued its earnings results on Wednesday. The company reported $0.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.41, Briefing.com reports. Ryan Specialty had a net margin of 10.21% and a return on equity of 48.08%. The firm had revenue of $604.69 million for the quarter, compared to analyst estimates of $602.04 million. During the same quarter last year, the business posted $0.32 earnings per share. The company’s quarterly revenue was up 20.5% on a year-over-year basis.

Ryan Specialty Stock Down 1.5 %

Shares of NYSE RYAN traded down $1.06 during trading on Thursday, hitting $67.90. The stock had a trading volume of 1,493,811 shares, compared to its average volume of 875,348. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a fifty day moving average of $66.97 and a two-hundred day moving average of $60.25. Ryan Specialty has a 12 month low of $41.49 and a 12 month high of $73.10. The company has a market capitalization of $17.75 billion, a PE ratio of 105.78, a PEG ratio of 1.55 and a beta of 0.62.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. UBS Group increased their target price on shares of Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Wells Fargo & Company boosted their price objective on Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Barclays assumed coverage on Ryan Specialty in a research note on Wednesday, September 4th. They set an “overweight” rating and a $76.00 target price for the company. JPMorgan Chase & Co. boosted their price target on Ryan Specialty from $54.00 to $56.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Finally, Bank of America raised their price objective on shares of Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ryan Specialty currently has an average rating of “Hold” and a consensus target price of $70.33.

Insider Buying and Selling

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 5,375 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $64.73, for a total value of $347,923.75. Following the completion of the transaction, the director now owns 2,685 shares in the company, valued at $173,800.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Nicholas Dominic Cortezi sold 5,375 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $64.73, for a total value of $347,923.75. Following the transaction, the director now directly owns 2,685 shares of the company’s stock, valued at approximately $173,800.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $65.18, for a total transaction of $1,709,866.94. Following the sale, the executive vice president now owns 24,845 shares of the company’s stock, valued at $1,619,397.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,107,136 shares of company stock worth $131,860,032. 11.10% of the stock is owned by insiders.

Ryan Specialty Company Profile

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.