CHICAGO—Ryan Patrick G Jr, a director at Ryan Specialty Holdings, Inc. (NYSE:RYAN), recently made significant purchases of the company's Class A common stock. According to a filing with the Securities and Exchange Commission, Mr. Ryan acquired a total of 250 shares over two transactions on November 5 and November 6, 2024. The shares were purchased at prices ranging from $68.72 to $69.24, with a total transaction value of approximately $17,258.
Following these acquisitions, Mr. Ryan now holds 253,408 shares directly and an additional 400,695 shares indirectly through trusts. The purchases were made indirectly by his spouse, as noted in the filing.
These transactions underscore Mr. Ryan's continued investment in Ryan Specialty Holdings, an insurance services firm headquartered in Chicago. The company's stock is traded on the New York Stock Exchange under the ticker symbol RYAN.
In other recent news, Ryan Specialty Holdings reported a significant increase in its third-quarter revenue and earnings, marking a 20.5% rise to reach $605 million in revenue. Organic growth accounted for 11.8% of this increase, while adjusted earnings before interest, taxes, depreciation, amortization, and changes in acquisition costs (EBITDAC) rose by 29.4% to $190 million. Additionally, adjusted diluted earnings per share (EPS) saw a growth of 28%, reaching $0.41. These developments highlight Ryan Specialty's strategic acquisitions and disciplined M&A strategy, which have been key drivers of its strong financial performance.
Recent acquisitions, including US Assure and Innovisk, have made significant contributions to the company's growth. Furthermore, Ryan Specialty is on track to achieve $60 million in annual savings from its ACCELERATE 2025 program by 2025. Despite rate declines, the firm has managed to secure strong performance in casualty pricing and gain market share in the property sector.
Looking ahead, Ryan Specialty aims to maintain an organic revenue growth guidance of 13.0% to 14.0% for 2024. The company anticipates that the positive dynamics in casualty markets, particularly in high-hazard verticals, will continue to drive growth.
InvestingPro Insights
Ryan Specialty Holdings' recent insider buying activity aligns with several positive indicators from InvestingPro. The company's stock has shown strong performance, with InvestingPro data revealing a 60.36% price total return over the past year and a 36.77% return in the last six months. This robust performance is reflected in an InvestingPro Tip noting the company's "high return over the last year."
The company's financial health appears solid, with revenue growth of 20.14% in the last twelve months as of Q3 2024, and an adjusted operating income of $476.25 million for the same period. These figures suggest that Ryan Specialty Holdings is maintaining a strong market position and operational efficiency.
However, investors should be aware that the stock is trading at a relatively high valuation. The P/E ratio stands at 82.99, which an InvestingPro Tip identifies as "trading at a high earnings multiple." This valuation metric may be a consideration for potential investors assessing the stock's current price levels.
For those seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Ryan Specialty Holdings, providing a deeper insight into the company's financial position and market outlook.
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