Ryan Specialty (NYSE:RYAN) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Ryan Specialty (NYSE:RYAN) issued its earnings results on Thursday. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02), Zacks reports. The firm had revenue of $663.53 million during the quarter, compared to analyst estimates of $658.80 million. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%.

Ryan Specialty Stock Down 3.3 %

Shares of NYSE RYAN traded down $2.24 during mid-day trading on Friday, reaching $66.37. The company had a trading volume of 515,846 shares, compared to its average volume of 930,599. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $17.38 billion, a price-to-earnings ratio of 86.19, a PEG ratio of 1.21 and a beta of 0.72. The stock has a fifty day moving average of $65.61 and a two-hundred day moving average of $67.26. Ryan Specialty has a 12-month low of $45.72 and a 12-month high of $75.97.

Insider Activity at Ryan Specialty

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RYAN. Barclays upped their price target on shares of Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. 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. Wells Fargo & Company raised their target price on Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods dropped their price target on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a research report on Friday. One equities 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $74.80.

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.