Ryan Specialty Holdings, Inc. (NYSE:RYAN) CEO Buys $7,780,859.00 in Stock

Ryan Specialty Holdings, Inc. (NYSE:RYAN – Get Rating) CEO Patrick G. Ryan purchased 208,100 shares of the company’s stock in a transaction on Tuesday, March 14th. The stock was acquired at an average price of $37.39 per share, with a total value of $7,780,859.00. Following the purchase, the chief executive officer now owns 13,123,127 shares of the company’s stock, valued at $490,673,718.53. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Ryan Specialty Price Performance

Shares of RYAN opened at $39.33 on Friday. Ryan Specialty Holdings, Inc. has a 1-year low of $32.13 and a 1-year high of $46.40. The stock has a market cap of $10.21 billion, a PE ratio of 77.12 and a beta of 0.48. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a fifty day moving average price of $41.72 and a 200 day moving average price of $41.25.

Ryan Specialty (NYSE:RYAN – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The company reported $0.27 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.27. Ryan Specialty had a net margin of 9.46% and a return on equity of 42.96%. The firm had revenue of $435.00 million during the quarter, compared to analysts’ expectations of $425.48 million. During the same period in the previous year, the company earned $0.29 earnings per share. Ryan Specialty’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ryan Specialty Holdings, Inc. will post 1.3 EPS for the current year.

Institutional Investors Weigh In On Ryan Specialty

A number of institutional investors and hedge funds have recently bought and sold shares of RYAN. Artisan Partners Limited Partnership purchased a new stake in Ryan Specialty in the second quarter valued at $98,219,000. Morgan Stanley raised its holdings in shares of Ryan Specialty by 515.7% in the fourth quarter. Morgan Stanley now owns 2,467,647 shares of the company’s stock valued at $102,432,000 after buying an additional 2,066,855 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Ryan Specialty by 42.3% in the first quarter. Vanguard Group Inc. now owns 6,747,855 shares of the company’s stock valued at $261,749,000 after buying an additional 2,006,018 shares during the last quarter. State Street Corp raised its holdings in shares of Ryan Specialty by 173.6% in the second quarter. State Street Corp now owns 1,216,310 shares of the company’s stock valued at $47,667,000 after buying an additional 771,733 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Ryan Specialty by 35.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,072,078 shares of the company’s stock valued at $81,205,000 after buying an additional 539,003 shares during the last quarter. 26.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on RYAN. BMO Capital Markets began coverage on shares of Ryan Specialty in a research note on Thursday, January 19th. They issued an “outperform” rating and a $51.00 price target for the company. Wells Fargo & Company boosted their price target on shares of Ryan Specialty from $47.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 1st. Finally, Citigroup started coverage on shares of Ryan Specialty in a research note on Wednesday, December 14th. They set a “neutral” rating and a $42.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $46.38.

Ryan Specialty Company Profile

(Get Rating)

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