Ryan Specialty (NYSE:RYAN) Stock Price Up 3.7% Following Insider Buying Activity

Ryan Specialty Holdings, Inc. (NYSE:RYAN – Get Rating) rose 3.7% during mid-day trading on Thursday following insider buying activity. The stock traded as high as $38.73 and last traded at $38.73. Approximately 109,038 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 652,588 shares. The stock had previously closed at $37.34.

Specifically, CEO Patrick G. Ryan purchased 208,100 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The stock was bought at an average cost of $37.39 per share, with a total value of $7,780,859.00. Following the completion of the purchase, the chief executive officer now directly owns 13,123,127 shares in the company, valued at $490,673,718.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Patrick G. Ryan purchased 208,100 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The stock was bought at an average cost of $37.39 per share, with a total value of $7,780,859.00. Following the completion of the purchase, the chief executive officer now directly owns 13,123,127 shares in the company, valued at $490,673,718.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Thomas Vanacker sold 45,000 shares of the stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $40.75, for a total transaction of $1,833,750.00. The disclosure for this sale can be found here. Insiders own 54.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RYAN shares. Wells Fargo & Company upped their price objective on shares of Ryan Specialty from $47.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, March 1st. Citigroup started coverage on shares of Ryan Specialty in a report on Wednesday, December 14th. They issued a “neutral” rating and a $42.00 price objective on the stock. Finally, BMO Capital Markets started coverage on shares of Ryan Specialty in a report on Thursday, January 19th. They issued an “outperform” rating and a $51.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $46.38.

Ryan Specialty Trading Up 5.3 %

The stock’s fifty day moving average price is $41.72 and its 200 day moving average price is $41.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 2.39. The stock has a market cap of $10.21 billion, a PE ratio of 77.12 and a beta of 0.48.

Ryan Specialty (NYSE:RYAN – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The company reported $0.27 EPS 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 for the quarter, compared to analysts’ expectations of $425.48 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, sell-side analysts forecast that Ryan Specialty Holdings, Inc. will post 1.3 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RYAN. HighTower Advisors LLC lifted its position in Ryan Specialty by 31.5% during the first quarter. HighTower Advisors LLC now owns 9,565 shares of the company’s stock valued at $375,000 after purchasing an additional 2,290 shares during the period. Citigroup Inc. lifted its position in Ryan Specialty by 16.9% during the first quarter. Citigroup Inc. now owns 4,744 shares of the company’s stock valued at $184,000 after purchasing an additional 685 shares during the period. Natixis Advisors L.P. bought a new position in Ryan Specialty during the first quarter valued at approximately $515,000. Dimensional Fund Advisors LP bought a new position in Ryan Specialty during the first quarter valued at approximately $380,000. Finally, Vanguard Group Inc. lifted its position in Ryan Specialty by 42.3% during the first quarter. Vanguard Group Inc. now owns 6,747,855 shares of the company’s stock valued at $261,749,000 after purchasing an additional 2,006,018 shares during the period. Institutional investors own 26.82% of the company’s stock.

About Ryan Specialty

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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.