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Ryan Specialty’s (NYSE:RYAN) CEO Is on a Buying Spree

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Ryan Specialty’s CEO continues loading the company’s shares, bringing his total investment in RYAN stock to nearly $41.4 million.

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.

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%.

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