Yesterday, Patrick G. Ryan, chairman and CEO of Ryan Specialty (NYSE:RYAN) made his fifth informative buy transaction for the month of November. Ryan is also the founder and owner of more than 10% of the company’s shares.
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Ryan Specialty is an international specialty insurance firm that provides solutions to brokers, agents, and insurance carriers.
The top executive has bought 285,058 shares of RYAN stock at a weighted average price of $38.77 per share. With the completion of the transaction, he now holds a total of 13.5 million shares of the company, for a total value of $503.9 million.
Interestingly, shares of Ryan Specialty have been on an upward trajectory since the CEO began buying the stock. RYAN stock is up more than 13% since November 16.
Based on the CEO’s bullishness, it would be wise to expect some major announcements from the company going forward. Moreover, Ryan’s 100% success rate in his transactions keeps us optimistic.
TipRanks’ Insider Trading Tool shows Insiders at Ryan Specialty are clearly optimistic about the stock’s prospects and have bought RYAN stock worth $41.4 million in the last three months.
Further, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Should You Buy RYAN Stock?
Based on two Buy, two Hold, and one Sell recommendations, the company has a Hold consensus rating. The average RYAN stock price target of $44.60 implies upside potential of 15.75%.
