Ryan Specialty (NYSE:RYAN) Sees Strong Trading Volume

Ryan Specialty Holdings, Inc. (NYSE:RYAN – Get Rating) saw unusually-high trading volume on Tuesday . Approximately 642,537 shares were traded during trading, an increase of 7% from the previous session’s volume of 600,280 shares.The stock last traded at $42.36 and had previously closed at $44.21.

Analyst Upgrades and Downgrades

RYAN has been the subject of several research analyst reports. Citigroup raised their price target on shares of Ryan Specialty from $44.00 to $45.00 in a research note on Tuesday, April 18th. TheStreet upgraded shares of Ryan Specialty from a “d” rating to a “c-” rating in a research note on Thursday, March 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of Ryan Specialty from $49.00 to $50.00 in a research note on Friday, May 5th. One equities 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. According to MarketBeat.com, Ryan Specialty has an average rating of “Hold” and an average target price of $46.88.

Ryan Specialty Price Performance

The business’s 50-day moving average price is $41.10 and its 200 day moving average price is $40.98. The stock has a market capitalization of $10.61 billion, a PE ratio of 72.91 and a beta of 0.43. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.25 and a current ratio of 1.25.

Ryan Specialty (NYSE:RYAN – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $457.90 million during the quarter, compared to analyst estimates of $441.53 million. Ryan Specialty had a net margin of 10.11% and a return on equity of 40.74%. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 EPS. Research analysts forecast that Ryan Specialty Holdings, Inc. will post 1.33 earnings per share for the current year.

Insider Activity

In other news, insider Nicholas Dominic Cortezi sold 25,000 shares of Ryan Specialty stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $44.24, for a total transaction of $1,106,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, President Timothy William Turner sold 689,909 shares of Ryan Specialty stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $43.45, for a total transaction of $29,976,546.05. Following the completion of the sale, the president now directly owns 4,058 shares of the company’s stock, valued at approximately $176,320.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Dominic Cortezi sold 25,000 shares of Ryan Specialty stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $44.24, for a total transaction of $1,106,000.00. The disclosure for this sale can be found here. Insiders sold 945,830 shares of company stock worth $40,938,888 in the last three months. Corporate insiders own 54.51% of the company’s stock.

Institutional Trading of Ryan Specialty

Several hedge funds have recently added to or reduced their stakes in RYAN. Morgan Stanley lifted its stake in Ryan Specialty by 515.7% in the fourth quarter. Morgan Stanley now owns 2,467,647 shares of the company’s stock worth $102,432,000 after purchasing an additional 2,066,855 shares during the last quarter. Vanguard Group Inc. lifted its stake in Ryan Specialty by 42.3% in the first quarter. Vanguard Group Inc. now owns 6,747,855 shares of the company’s stock worth $261,749,000 after purchasing an additional 2,006,018 shares during the last quarter. Jackson Square Partners LLC bought a new stake in Ryan Specialty in the first quarter worth $44,952,000. Champlain Investment Partners LLC bought a new stake in Ryan Specialty in the first quarter worth $31,152,000. Finally, State Street Corp lifted its stake in Ryan Specialty by 173.6% in the second quarter. State Street Corp now owns 1,216,310 shares of the company’s stock worth $47,667,000 after purchasing an additional 771,733 shares during the last quarter. 26.82% of the stock is owned by institutional investors.

Ryan Specialty Company Profile

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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.