Ryan Specialty (NYSE:RYAN) Issues Quarterly Earnings Results

Ryan Specialty (NYSE:RYAN) released its quarterly earnings data on Thursday. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.02), Zacks reports. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%.

Ryan Specialty Stock Performance

Shares of NYSE RYAN traded down $0.67 during trading hours on Thursday, hitting $68.70. 697,095 shares of the stock were exchanged, compared to its average volume of 947,339. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. The company’s 50 day moving average is $65.58 and its 200 day moving average is $67.25. The firm has a market capitalization of $17.99 billion, a P/E ratio of 89.23, a P/E/G ratio of 1.21 and a beta of 0.72. Ryan Specialty has a one year low of $45.55 and a one year high of $75.97.

Insider Buying and Selling

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 35,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $66.71, for a total value of $2,334,850.00. Following the completion of the sale, the director now directly owns 60,200 shares of the company’s stock, valued at $4,015,942. This represents a 36.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders sold 316,451 shares of company stock valued at $20,907,793. Company insiders own 11.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Ryan Specialty from $79.00 to $77.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company dropped their price target on shares of Ryan Specialty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Barclays increased their price target on shares of Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Finally, Morgan Stanley initiated coverage on shares of Ryan Specialty in a research note on Thursday, December 5th. They set an “overweight” rating and a $90.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $74.40.

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.