The market expects Ryan Specialty Group (RYAN - Free Report) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.
The earnings report, which is expected to be released on October 29, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis insurance company is expected to post quarterly earnings of $0.49 per share in its upcoming report, which represents a year-over-year change of +4.3%.
Revenues are expected to be $790.79 million, up 4.8% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.42% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Ryan Specialty?For Ryan Specialty, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +5.46%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination indicates that Ryan Specialty will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Ryan Specialty would post earnings of $0.61 per share when it actually produced earnings of $0.74, delivering a surprise of +21.31%.
Over the last four quarters, the company has beaten consensus EPS estimates two times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Ryan Specialty appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
CHICAGO--(BUSINESS WIRE)--Ryan Specialty Holdings, Inc. (NYSE: RYAN) (“Ryan Specialty”), a leading international specialty insurance firm, today announced it will release its Third Quarter 2026 financial results after the market closes on Thursday, October 29, 2026. Ryan Specialty will hold a conference call to discuss the financial results at 4:45pm Eastern Time on October 29, 2026. Interested parties may access the conference call through the live webcast, which can be registered for via this.
Key Takeaways Ryan Specialty gained 9% in three months, beating the industry's 2.5% gain and the S&P 500's 5.2% rise.RYAN's Q2 adjusted EPS rose 12.1% to 74 cents, topping the consensus estimate by 21.3%.Ryan Specialty repurchased $260 million of shares and improved its 2026 adjusted EBITDAC margin outlook. Shares of Ryan Specialty Holdings, Inc. (RYAN - Free Report) have climbed 9% over the past three months, outpacing the industry’s 2.5% growth and the S&P 500’s 5.2% rise. The advance reflects a mix of index-related buying, better-than-expected second-quarter results, an improved margin outlook and steady capital returns.
3-Month Price Performance – RYAN, Industry and S&P 500 Image Source: Zacks Investment Research
Let’s delve deeper.
Russell index reconstitution gave the stock an early lift after Ryan Specialty was added to the Russell 1000 Value and Russell Midcap Value benchmarks. Such changes often attract buying from passive and benchmark-tracking funds, helping support trading activity around the rebalancing period.
Fundamentals then added to the momentum. Ryan Specialty reported second-quarter adjusted earnings of 74 cents per share, up 12.1% year over year and 21.3% above the Zacks Consensus Estimate of 61 cents. Organic revenue growth was 6.7%, supported by new business wins, strong retention, broader relationships with existing clients and continued movement of risks into specialty and excess-and-surplus markets.
Management also kept its mid-single-digit organic growth outlook while improving its 2026 adjusted EBITDAC margin guidance. The updated view points to better cost control and operating leverage than previously expected.
Capital returns provided another layer of support. Ryan Specialty repurchased 8.1 million shares for $260 million in the second quarter and paid $24.5 million in dividends. At June-end, $300 million remained available under its buyback authorization.
The company is also expanding its underwriting capabilities. Recent moves include a Lloyd’s consortium arrangement, the formation of Ryan Specialty Renewables and the launch of Tera Underwriters. Tera offers more than $1 billion of accessible capacity for industrial-scale computing hardware, including AI and high-performance computing data centers.
Earnings Estimates Are Moving Higher for RYANThe Zacks Consensus Estimate for Ryan Specialty’s 2026 earnings is currently pegged at $2.18 per share, which indicates 11.2% year-over-year growth. It witnessed nine upward revisions and no cuts over the past 60 days. The consensus mark for 2027 EPS indicates a further 12.5% year-over-year growth. It beat earnings estimates in two of the past four quarters, met once and missed on the other occasion, with an average surprise of 5.2%.
Meanwhile, the Zacks Consensus Estimate for RYAN’s 2026 and 2027 revenues is pegged at $3.30 billion and $3.54 billion, signaling 8.1% and 7.3% increases, respectively.
Zacks Rank & Key PicksRyan Specialty currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Finance space are Assurant, Inc. (AIZ - Free Report) , CNO Financial Group, Inc. (CNO - Free Report) and Equitable Holdings, Inc. (EQH - Free Report) . While Assurant currently sports a Zacks Rank #1 (Strong Buy), CNO Financial and Equitable Holdings have a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Assurant’s current-year earnings is pegged at $22.28 per share, which indicates 12.7% year-over-year growth. It has witnessed five upward estimate revisions against none in the opposite direction in the past 60 days. AIZ beat earnings estimates in each of the last four quarters, with an average surprise of 17.7%.
The consensus mark for CNO Financial’s current-year earnings is pegged at $4.74 per share, which indicates 16.2% year-over-year growth. It has witnessed two upward estimate revisions against none in the opposite direction in the past 60 days. CNO beat earnings estimates in each of the last four quarters, with an average surprise of 23.2%.
The consensus estimate for Equitable Holdings’ current-year earnings is pegged at $7.18 per share, which signals a 15.6% year-over-year increase. It has witnessed four upward estimate revisions against none in the opposite direction in the past 60 days. EQH beat earnings estimates in three of the last four quarters and missed once.
Is Ryan Specialty Holdings Inc (RYAN) a Bargain After 4.0% Drop? GF Value Says Undervalued On September 22, 2026, Ryan Specialty Holdings Inc RYAN shares fell 4.0% to a current price of $38.44, trading within a 52-week range of $29.28 to $59.19. This decline is part of a broader trend, with the stock down 24.8% year-to-date and 27.8% over the past year.
GF Value™ verdict: RYAN is currently priced at $38.44, which is 52.0% below its GF Value™ estimate of $80.03.GF Score™ of 75/100 indicates that RYAN is considered above average in terms of its overall financial health and performance.Notable signal: Over the past 12 months, insider activity shows a significant net selling of $229.0M, with $5.6M in purchases.Is RYAN Overvalued or Undervalued?Ryan Specialty Holdings Inc RYAN is currently marked as significantly undervalued according to GF Value™, which is GuruFocus' proprietary estimate of a company's intrinsic value based on historical trading multiples, past business growth, and future performance forecasts. With a current stock price of $38.44 and a GF Value™ of $80.03, the company presents a margin of safety of 52.0%. This undervaluation suggests that there may be an opportunity for investors who are willing to look past recent price declines.
However, caution is warranted. The financial strength rating of RYAN sits at a low 3/10, indicating potential risks in its financial stability. While the significant undervaluation could suggest a buying opportunity, factors such as the recent insider trading activity, which shows a heavy net selling, raise concerns about the company's prospects and the confidence of its leadership.
How Does RYAN's Valuation Compare to Its History?MetricCurrentHistoricalP/E (TTM)56.5x92.3x (5-Year Median)Forward P/E15.8xN/ACurrently, RYAN's P/E ratio of 56.5x is significantly below its 5-year median of 92.3x, indicating that the stock is trading at a discount compared to its historical valuation norms. This finding aligns with the GF Value™ assessment, reinforcing the idea that RYAN is undervalued based on its historical performance metrics.
What Does RYAN's GF Score™ Tell Us?The GF Score™ measures a company's financial strength, profitability, growth potential, valuation, and momentum. RYAN's score of 75/100 indicates that it is above average, though it does exhibit some weaknesses in specific areas.
MetricRatingGF Score™75Financial Strength3/10Profitability7/10Growth10/10Valuation2/10Momentum5/10RYAN's strongest area lies in its growth rank of 10/10, indicating robust growth potential. In contrast, its financial strength rating of 3/10 stands out as a notable weakness, which may be a concern for investors. The valuation rank of 2/10 also signals that the stock is not viewed favorably in terms of its current pricing relative to its earnings, further supporting the undervaluation narrative presented by the GF Value™.
What Are Gurus and Insiders Doing with RYAN?Currently, five gurus hold positions in RYAN, with three increasing their investments and four reducing their stakes in recent quarters. This mixed activity among institutional holders suggests a divide in opinion regarding RYAN's future prospects. Insider activity reveals that over the past year, insiders have purchased $5.6M worth of stock while selling $234.6M, resulting in a net selling of $229.0M. This substantial net selling could indicate a lack of confidence from insiders, which is an important consideration for potential investors.
What This Means for InvestorsIn light of the substantial undervaluation indicated by the GF Value™ assessment, RYAN appears to be an attractive opportunity for investors looking for potential growth. However, the concerning financial strength and significant insider selling warrant careful consideration before making any investment decisions. The current situation suggests that while RYAN is undervalued, the risks involved should not be overlooked. For more detailed information on RYAN's performance and analysis, visit the Ryan Specialty Holdings Inc RYAN stock page.
Frequently Asked QuestionsWhat is RYAN's GF Score™?
RYAN has a GF Score™ of 75/100, indicating that it is above average in terms of financial performance and health.
Is RYAN overvalued or undervalued?
RYAN is currently undervalued, with a GF Value™ estimate of $80.03 compared to its trading price of $38.44.
What is RYAN's P/E ratio?
The current P/E ratio for RYAN is 56.5x, which is significantly below its 5-year median of 92.3x, indicating a potential undervaluation based on historical performance.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Disclosures I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.
Ryan Specialty (NYSE:RYAN – Get Free Report) and Loews (NYSE:L – Get Free Report) are both large-cap finance companies, but which is the better business? We will contrast the two businesses based on the strength of their valuation, earnings, dividends, institutional ownership, analyst recommendations, risk and profitability.
Valuation and Earnings This table compares Ryan Specialty and Loews”s gross revenue, earnings per share and valuation.
Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Ryan Specialty $3.22 billion 3.25 $63.40 million $0.72 56.70 Loews $18.45 billion 1.20 $1.67 billion $8.16 13.27 Loews has higher revenue and earnings than Ryan Specialty. Loews is trading at a lower price-to-earnings ratio than Ryan Specialty, indicating that it is currently the more affordable of the two stocks. Dividends Ryan Specialty pays an annual dividend of $0.52 per share and has a dividend yield of 1.3%. Loews pays an annual dividend of $0.25 per share and has a dividend yield of 0.2%. Ryan Specialty pays out 72.2% of its earnings in the form of a dividend. Loews pays out 3.1% of its earnings in the form of a dividend. Both companies have healthy payout ratios and should be able to cover their dividend payments with earnings for the next several years. Ryan Specialty has increased its dividend for 1 consecutive years. Ryan Specialty is clearly the better dividend stock, given its higher yield and longer track record of dividend growth.
Volatility & Risk Ryan Specialty has a beta of 0.57, indicating that its stock price is 43% less volatile than the S&P 500. Comparatively, Loews has a beta of 0.51, indicating that its stock price is 49% less volatile than the S&P 500.
Insider & Institutional Ownership 84.8% of Ryan Specialty shares are owned by institutional investors. Comparatively, 58.3% of Loews shares are owned by institutional investors. 52.0% of Ryan Specialty shares are owned by insiders. Comparatively, 19.0% of Loews shares are owned by insiders. Strong institutional ownership is an indication that endowments, hedge funds and large money managers believe a company is poised for long-term growth.
Profitability This table compares Ryan Specialty and Loews’ net margins, return on equity and return on assets.
Net Margins Return on Equity Return on Assets Ryan Specialty 7.55% 43.97% 4.78% Loews 9.02% 8.60% 1.96% Analyst Recommendations This is a summary of current ratings and target prices for Ryan Specialty and Loews, as reported by MarketBeat.com.
Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Ryan Specialty 1 10 8 0 2.37 Loews 0 0 0 1 4.00 Ryan Specialty currently has a consensus target price of $53.86, suggesting a potential upside of 31.94%. Given Ryan Specialty’s higher possible upside, equities analysts clearly believe Ryan Specialty is more favorable than Loews.
Summary Ryan Specialty beats Loews on 11 of the 18 factors compared between the two stocks.
About Ryan Specialty (Get Free Report)
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. The company serves commercial, industrial, institutional, and government sectors. Ryan Specialty Holdings, Inc. was founded in 2010 and is headquartered in Chicago, Illinois.
About Loews (Get Free Report)
Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages. It also provides loss-sensitive insurance programs; and warranty, risk management, information, and claims administration services. The company markets its insurance products and services through independent agents, brokers, and managing general underwriters. In addition, the company is involved in the transportation and storage of natural gas and natural gas liquids, and hydrocarbons through natural gas pipelines covering approximately 13,455 miles of interconnected pipelines; 855 miles of NGL pipelines in Louisiana and Texas; 14 underground storage fields with an aggregate gas capacity of approximately 199.5 billion cubic feet of natural gas; and eleven salt dome caverns and related brine infrastructure for providing brine supply services. Further, the company operates a chain of 25 hotels; and develops, manufactures, and markets a range of extrusion blow-molded and injection molded plastic containers for customers in the pharmaceutical, dairy, household chemicals, food/nutraceuticals, industrial/specialty chemicals, and water and beverage/juice industries, as well as manufactures commodity and differentiated plastic resins from recycled plastic materials. Loews Corporation was incorporated in 1969 and is headquartered in New York, New York.
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Dudley & Shanley Inc. reduced its stake in Ryan Specialty Holdings Inc. (NYSE:RYAN – Free Report) by 3.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 465,146 shares of the company’s stock after selling 14,875 shares during the period. Ryan Specialty accounts for about 2.7% of Dudley & Shanley Inc.’s holdings, making the stock its 21st biggest position. Dudley & Shanley Inc. owned 0.18% of Ryan Specialty worth $17,564,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RYAN. Royal Bank of Canada grew its position in shares of Ryan Specialty by 10.6% during the first quarter. Royal Bank of Canada now owns 59,639 shares of the company’s stock worth $4,406,000 after acquiring an additional 5,739 shares during the last quarter. AQR Capital Management LLC raised its position in Ryan Specialty by 25.1% in the 1st quarter. AQR Capital Management LLC now owns 4,972 shares of the company’s stock valued at $367,000 after purchasing an additional 998 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Ryan Specialty by 46.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 376,154 shares of the company’s stock worth $27,787,000 after purchasing an additional 119,055 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Ryan Specialty by 11.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 332,823 shares of the company’s stock worth $24,586,000 after purchasing an additional 33,667 shares during the period. Finally, Creative Planning grew its position in Ryan Specialty by 15.4% during the 2nd quarter. Creative Planning now owns 4,586 shares of the company’s stock worth $312,000 after purchasing an additional 613 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.
Analysts Set New Price Targets Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Ryan Specialty from $39.00 to $45.00 and gave the stock an “underweight” rating in a report on Monday, August 3rd. Royal Bank Of Canada lifted their price objective on Ryan Specialty from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Bank of America dropped their target price on Ryan Specialty from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Wells Fargo & Company increased their target price on Ryan Specialty from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Finally, Piper Sandler raised their price target on Ryan Specialty from $44.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $53.42.
View Our Latest Research Report on RYAN
Insider Transactions at Ryan Specialty In other news, EVP Mark Stephen Katz purchased 3,215 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were purchased at an average price of $31.07 per share, with a total value of $99,890.05. Following the purchase, the executive vice president directly owned 4,332 shares of the company’s stock, valued at approximately $134,595.24. This represents a 287.82% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Patrick G. Ryan bought 120,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were acquired at an average cost of $32.50 per share, for a total transaction of $3,900,000.00. Following the completion of the transaction, the chairman owned 13,817,859 shares of the company’s stock, valued at approximately $449,080,417.50. The trade was a 0.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 130,715 shares of company stock valued at $4,263,590. Corporate insiders own 52.03% of the company’s stock.
Ryan Specialty Price Performance Shares of NYSE:RYAN opened at $42.78 on Monday. The company has a market cap of $10.94 billion, a P/E ratio of 59.42, a P/E/G ratio of 0.86 and a beta of 0.59. The business has a fifty day simple moving average of $38.92 and a 200-day simple moving average of $38.10. Ryan Specialty Holdings Inc. has a 52 week low of $29.28 and a 52 week high of $61.05. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 3.51.
Ryan Specialty (NYSE:RYAN – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.14. The business had revenue of $916.65 million during the quarter, compared to the consensus estimate of $873.93 million. Ryan Specialty had a return on equity of 43.97% and a net margin of 7.55%.The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 EPS. Equities research analysts forecast that Ryan Specialty Holdings Inc. will post 2.15 EPS for the current year.
Ryan Specialty Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be paid a dividend of $0.13 per share. The ex-dividend date is Tuesday, August 11th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.2%. Ryan Specialty’s dividend payout ratio (DPR) is currently 72.22%.
Ryan Specialty announced that its Board of Directors has authorized a share buyback program on Tuesday, May 26th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 3.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.
Ryan Specialty Profile (Free Report)
Ryan Specialty Group, Inc (NYSE: RYAN) is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients’ unique needs.
Ryan Specialty’s core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.
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3 2021 IPOs Likely To Notch Further Big Price Gains Ryan Specialty NYSE: RYAN reported second-quarter revenue growth of 7.2% to $917 million, supported by 6.7% organic growth and modest contributions from acquisitions, as the specialty insurance services company navigated pricing pressure in property insurance and rising competition in several markets.
Adjusted EBITDA increased 6% to $327 million, while adjusted EBITDA margin declined 40 basis points year over year to 35.7%. Adjusted earnings per share rose 12.1% to $0.74. For the first half of 2026, the company said organic revenue grew 8.9%, adjusted EBITDA increased 9.8%, and adjusted EPS rose 16.2%.
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Founder and Executive Chairman Pat Ryan said the quarter demonstrated the resilience of the company’s wholesale brokerage and delegated underwriting platform despite industry headwinds. He highlighted Ryan Specialty’s specialty-product breadth, carrier relationships and ability to develop new underwriting programs as differentiators.
Property pricing remains a headwind CEO Tim Turner said the company faced a “very challenging property pricing environment,” particularly in catastrophe-exposed and large-account business, where capacity continued to build and competition remained intense. Pricing on some catastrophe business declined materially, although Ryan Specialty’s property book fell only modestly during the quarter, better than management had expected.
Turner attributed the relative performance to strong retention, new-business wins and a better-than-expected June. He said the company continued to benefit from business flowing into the excess-and-surplus, or E&S, market, even as pricing conditions remained difficult.
In casualty, Ryan Specialty reported a strong quarter, aided by construction activity and several large project-based wins, including data center-related business. Turner cautioned that construction project activity is inherently lumpy because the timing of client binding decisions can be difficult to predict. Management said the pipeline for construction opportunities remains strong heading into the remainder of the year.
The company said casualty pricing remains firm in areas including transportation, habitational, sports and entertainment, portions of healthcare, public entity and human services. However, it is seeing increased competition and some price moderation in small and medium-hazard risks, as well as certain other market segments.
Underwriting management and new products support growth Ryan Specialty’s underwriting management operations posted what management described as an excellent quarter, with strength in transactional liability, transportation, international specialty, casualty and reinsurance. Transactional liability exceeded the company’s expectations, supported by a more constructive global mergers-and-acquisitions environment.
Ryan Re, the company’s reinsurance managing underwriter, also delivered strong renewal retention despite a difficult pricing environment. Turner said Ryan Re remains on track to place $2 billion of reinsurance premium during 2026.
Management noted continued pressure in builders risk, reflecting broader macroeconomic conditions. Its binding authority business grew revenue year over year but encountered heightened competition, particularly from new facilities competing for smaller commercial accounts. The company expects those competitive pressures to intensify in the second half.
Ryan Specialty also discussed its efforts to expand beyond traditional managing general agency and managing general underwriter activities. Pat Ryan cited reinsurance underwriting, alternative capital solutions and benefits products as businesses intended to diversify the company from the property-and-casualty cycle. He said these newer businesses remain smaller than the company’s wholesale distribution and underwriting management operations but are becoming more meaningful contributors to growth, margins and earnings.
In July, RSUM launched a Lloyd’s Consortium stamp that will take a 15% line on its syndicated business beginning Aug. 1. Turner said the initiative is designed to improve capital efficiency, support underwriting capacity and accelerate the company’s speed to market.
Guidance updated; margins expected to decline CFO Janice Hamilton said Ryan Specialty continues to expect full-year organic revenue growth in the mid-single digits for 2026, but now expects results to fall toward the higher end of that range. The outlook assumes continued property price declines, heightened competition, softer binding-authority growth and ongoing builders-risk pressure.
The company expects a moderate decline in its property book for the full year and a more normalized level of construction-project growth in the second half. Hamilton said the third quarter represents Ryan Specialty’s most difficult organic-growth comparison of the year, including comparisons against prior-year property growth and strong underwriting-management growth in transactional liability, structured solutions and reinsurance.
Ryan Specialty now expects its full-year adjusted EBITDA margin to decline by approximately 50 to 100 basis points year over year. Hamilton said the outlook reflects market conditions, continued absorption of talent investments, lower fiduciary investment income and higher healthcare and benefits costs. Those pressures are expected to be partly offset by cost discipline and early benefits from the company’s Empower operational-efficiency program.
Capital allocation and leadership changes During the quarter, Ryan Specialty repurchased approximately 8.1 million shares for $260 million and increased its repurchase authorization by $300 million. The company also repurchased $42 million of stock in July. It ended the quarter with total net leverage of 3.3 times on a credit basis, within its stated 3-times-to-4-times comfort range.
Hamilton said the company considers both acquisitions and repurchases priorities within its capital-allocation strategy, but it is unlikely to close a meaningful acquisition in 2026. Management said it is looking toward 2027 for larger acquisition opportunities, while remaining prepared to pursue assets that meet its strategic, cultural and financial criteria.
The company also announced a planned leadership succession at RT Specialty. Brendan Mulshine will become CEO of RT Specialty, while Ed McCormack will transition to vice chairman of RT Specialty.
Finally, management described ongoing technology and artificial-intelligence investments, including tools designed to accelerate reinsurance submission processing, improve treaty underwriting workflows and reduce manual property-inspection tasks. Turner said the company is using proprietary data and internal guardrails as it expands AI deployment across its operations.
About Ryan Specialty (NYSE:RYAN)Ryan Specialty Group, Inc NYSE: RYAN is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients' unique needs.
Ryan Specialty's core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Ryan Specialty Holdings Inc (NYSE:RYAN) on Thursday reported better-than-expected second-quarter financial results.
Ryan Specialty reported quarterly earnings of 74 cents per share which beat the analyst consensus estimate of 60 cents per share. The company reported quarterly sales of $916.647 million which beat the analyst consensus estimate of $872.957 million.
“We are proud of our excellent second quarter performance, especially given the very challenging environment, as we continue to deliver for our clients and carrier trading partners,” said Patrick G. Ryan, Founder and Executive Chairman of Ryan Specialty.
Ryan Specialty shares gained 11.7% to $49.25 in pre-market trading.
These analysts made changes to their price targets on Ryan Specialty following earnings announcement.
Barclays analyst Alex Scott maintained the stock with an Overweight rating and raised the price target from $46 to $48. Keefe, Bruyette & Woods analyst Meyer Shields maintained the stock with an Outperform rating and boosted the price target from $48 to $54. Considering buying RYAN stock? Here’s what analysts think:
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Ryan Specialty Group (RYAN - Free Report) came out with quarterly earnings of $0.74 per share, beating the Zacks Consensus Estimate of $0.61 per share. This compares to earnings of $0.66 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +21.31%. A quarter ago, it was expected that this insurance company would post earnings of $0.43 per share when it actually produced earnings of $0.47, delivering a surprise of +9.3%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Ryan Specialty, which belongs to the Zacks Insurance - Brokerage industry, posted revenues of $916.65 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 4.91%. This compares to year-ago revenues of $855.17 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Ryan Specialty shares have lost about 10% since the beginning of the year versus the S&P 500's gain of 6.9%.
What's Next for Ryan Specialty?While Ryan Specialty has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Ryan Specialty was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.51 on $805.01 million in revenues for the coming quarter and $2.06 on $3.27 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Insurance - Brokerage is currently in the bottom 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Accelerant Holdings (ARX - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 13.
This company is expected to post quarterly earnings of $0.16 per share in its upcoming report, which represents a year-over-year change of +14.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Accelerant Holdings' revenues are expected to be $274.08 million, up 25.1% from the year-ago quarter.
For the quarter ended June 2026, Ryan Specialty Group (RYAN - Free Report) reported revenue of $916.65 million, up 7.2% over the same period last year. EPS came in at $0.74, compared to $0.66 in the year-ago quarter.
The reported revenue represents a surprise of +4.91% over the Zacks Consensus Estimate of $873.71 million. With the consensus EPS estimate being $0.61, the EPS surprise was +21.31%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Ryan Specialty performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Fiduciary investment income: $13.92 million compared to the $12.44 million average estimate based on four analysts.Revenue- Net commissions and fees: $902.73 million versus $863.25 million estimated by four analysts on average.Revenue- Net commissions and fees- Binding Authority: $100.17 million compared to the $95.94 million average estimate based on two analysts.Revenue- Net commissions and fees- Underwriting Management: $303.76 million versus $302.82 million estimated by two analysts on average.Revenue- Net commissions and fees- Wholesale Brokerage: $498.8 million versus $465.24 million estimated by two analysts on average.View all Key Company Metrics for Ryan Specialty here>>>
Shares of Ryan Specialty have returned +16.1% over the past month versus the Zacks S&P 500 composite's -1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
CHICAGO--(BUSINESS WIRE)--Ryan Specialty Holdings, Inc. (NYSE: RYAN) (“Ryan Specialty” or the “Company”), a leading international specialty insurance firm, today announced results for the second quarter ended June 30, 2026. Second Quarter 2026 Highlights Revenue grew 7.2% year-over-year to $916.6 million, compared to $855.2 million in the prior-year period Organic Revenue Growth Rate* was 6.7% for the quarter, compared to 7.1% in the prior-year period Net Income decreased 13.1% year-over-year t.
Entropy Technologies LP acquired a new stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN – Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 64,877 shares of the company’s stock, valued at approximately $2,189,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its position in Ryan Specialty by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 32,797 shares of the company’s stock worth $1,848,000 after buying an additional 203 shares during the period. Covestor Ltd boosted its holdings in shares of Ryan Specialty by 16.8% during the fourth quarter. Covestor Ltd now owns 1,467 shares of the company’s stock valued at $76,000 after acquiring an additional 211 shares during the period. Northwestern Mutual Investment Management Company LLC grew its position in shares of Ryan Specialty by 1.0% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 25,355 shares of the company’s stock worth $1,309,000 after acquiring an additional 240 shares during the last quarter. Federation des caisses Desjardins du Quebec grew its position in shares of Ryan Specialty by 7.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 3,313 shares of the company’s stock worth $171,000 after acquiring an additional 240 shares during the last quarter. Finally, Snowden Capital Advisors LLC grew its position in shares of Ryan Specialty by 1.3% during the second quarter. Snowden Capital Advisors LLC now owns 21,135 shares of the company’s stock worth $1,437,000 after acquiring an additional 264 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth Several analysts recently weighed in on RYAN shares. The Goldman Sachs Group lifted their price objective on shares of Ryan Specialty from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, July 1st. Keefe, Bruyette & Woods upped their target price on shares of Ryan Specialty from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. Wells Fargo & Company raised their price target on shares of Ryan Specialty from $31.00 to $39.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ryan Specialty in a report on Monday, May 4th. Finally, Mizuho lifted their price target on Ryan Specialty from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Eight equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $50.00.
Get Our Latest Stock Report on RYAN
Ryan Specialty Price Performance NYSE RYAN opened at $41.77 on Monday. The stock has a market capitalization of $11.01 billion, a P/E ratio of 54.25, a P/E/G ratio of 0.91 and a beta of 0.61. Ryan Specialty Holdings Inc. has a 1 year low of $29.28 and a 1 year high of $66.27. The business’s fifty day moving average is $36.59 and its two-hundred day moving average is $38.56. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.02 and a current ratio of 1.02.
Ryan Specialty (NYSE:RYAN – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. The company had revenue of $795.23 million during the quarter, compared to the consensus estimate of $781.44 million. Ryan Specialty had a return on equity of 41.33% and a net margin of 8.21%.The company’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 EPS. On average, research analysts forecast that Ryan Specialty Holdings Inc. will post 2.06 earnings per share for the current fiscal year.
Ryan Specialty Dividend Announcement The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.2%. Ryan Specialty’s payout ratio is 67.53%.
Ryan Specialty declared that its board has authorized a stock repurchase program on Tuesday, May 26th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
Insider Activity In related news, Director John W. Rogers, Jr. purchased 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was acquired at an average price of $35.16 per share, for a total transaction of $263,700.00. Following the transaction, the director directly owned 117,933 shares of the company’s stock, valued at $4,146,524.28. This trade represents a 6.79% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Patrick G. Ryan purchased 120,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average price of $32.50 per share, with a total value of $3,900,000.00. Following the transaction, the chairman directly owned 13,817,859 shares in the company, valued at $449,080,417.50. This trade represents a 0.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 130,715 shares of company stock valued at $4,263,590 over the last three months. Insiders own 52.03% of the company’s stock.
Ryan Specialty Profile (Free Report)
Ryan Specialty Group, Inc (NYSE: RYAN) is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients’ unique needs.
Ryan Specialty’s core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.
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Wall Street expects a year-over-year decline in earnings on higher revenues when Ryan Specialty Group (RYAN - Free Report) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The earnings report, which is expected to be released on July 30, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis insurance company is expected to post quarterly earnings of $0.61 per share in its upcoming report, which represents a year-over-year change of -7.6%.
Revenues are expected to be $873.71 million, up 2.2% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.78% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Ryan Specialty?For Ryan Specialty, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination makes it difficult to conclusively predict that Ryan Specialty will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Ryan Specialty would post earnings of $0.43 per share when it actually produced earnings of $0.47, delivering a surprise of +9.30%.
Over the last four quarters, the company has beaten consensus EPS estimates just once.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Ryan Specialty doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
CHICAGO--(BUSINESS WIRE)--Ryan Specialty Underwriting Managers (“RSUM”), the underwriting management division of Ryan Specialty (NYSE: RYAN), is pleased to announce the completion of a series of Lloyd’s of London consortium stamps that will attach to its global syndicated P&C delegated underwriting portfolio. The consortium stamps are supported by six leading Lloyd’s syndicates and will take a combined 15% share on all classes, lines and geographies (except for a partial share of Velocity Risk Underwriters, RSUM’s critical CAT managing general underwriter). The consortium stamps will begin joining facilities at their natural renewals starting August 1st.
Miles Wuller, CEO of RSUM, commented, “We are proud of both the continued interest in our portfolio and our ability to transform our diverse, highly curated, well-performing family of businesses into an accessible specialty insurance asset. Moreover, we are pleased to contribute broad-based data and structural efficiency to the specialty marketplace.
“I would like to highlight the forward-looking investment Ardonagh has made in Axiiem, its technology-enabled digital exchange, which will serve as the facilitation agent for the structure,” Miles added. “We appreciate Lloyd’s constructive support throughout the process, helping bring together market-leading expertise and capacity. Additionally, we would like to thank Markel for their cornerstone support, and all the new and existing syndicate stakeholders that brought this transaction to life.”
About Ryan Specialty Underwriting Managers
Ryan Specialty Underwriting Managers is an industry leader in delegated authority underwriting services. Our family of managing general underwriters and national programs have the expertise and authority to design, underwrite, bind, and administer a diverse portfolio of risks. Our value proposition originates with our 1500+ industry professionals who are empowered by centralized technical support and policy lifecycle administration, coupled with a broad distribution network of retail and wholesale brokers. We have been diligently servicing our valued clients and trading partners since our establishment in 2010 and now have operations in North America, the UK, Europe, the Middle East and Asia Pacific. To learn more, please visit rsum.com.
CHICAGO--(BUSINESS WIRE)--Ryan Specialty Holdings, Inc. (NYSE: RYAN) (“Ryan Specialty”), a leading international specialty insurance firm, today announced it will release its Second Quarter 2026 financial results after the market closes on Thursday, July 30, 2026.
Ryan Specialty will hold a conference call to discuss the financial results at 4:45pm Eastern Time on July 30, 2026. Interested parties may access the conference call through the live webcast, which can be registered for via this link or by visiting the Company’s Investor Relations website. Please join the live webcast at least 10 minutes prior to the scheduled start time.
A webcast replay of the call will be available at ir.ryanspecialty.com for one year following the call.
About Ryan Specialty
Founded in 2010, Ryan Specialty is a service provider of specialty products and solutions for insurance brokers, agents and carriers. The firm provides distribution, underwriting, product development, administration and risk management services by acting as a wholesale broker and a managing underwriter with delegated authority from insurance carriers. Ryan Specialty’s mission is to provide industry-leading innovative specialty insurance solutions for insurance brokers, agents and carriers. To learn more, please visit ryanspecialty.com.
Anthony J. Kuczinski, a member of the Board of Directors of Ryan Specialty Holdings (RYAN +8.15%), reported the purchase of 3,000 shares of Common Stock in multiple open-market transactions on June 11 and June 12, 2026, according to the SEC Form 4 filing.
Transaction summaryMetricValueShares traded3,000Transaction value~$105KPost-transaction shares (direct)13,072Post-transaction value (direct ownership)~$466KTransaction value based on SEC Form 4 weighted average purchase price ($34.99); post-transaction value based on June 12, 2026 market close.
Key questionsWhat is the magnitude of this transaction relative to Kuczinski's prior activity?
This purchase of 3,000 shares is the largest single transaction by share count for Kuczinski over the past two years, significantly exceeding the previous purchase of 300 shares in May of 2025.How does this acquisition affect current direct ownership?
The transaction increased direct Common Stock holdings by 29.79%, bringing the post-trade total to 13,072 shares.Was the transaction executed at a discount or premium to recent market prices?
The weighted average purchase price was $34.99 per share, which is less than the June 12, 2026 closing price of $35.64, following a -46.93% one-year total decline in the stock as of the transaction date.What does the transaction imply about available capacity and ongoing accumulation?
With no shares sold in the past year and overall direct holdings rising, the activity signals ongoing accumulation capacity, supported by a direct and unleveraged position without derivative mechanics.Company overviewMetricValueMarket capitalization$10.3 billionRevenue (TTM)$3.16 billionNet income (TTM)$108.69 million1-year price change-46.93%* 1-year price change calculated using June 12, 2026 as the reference date.
Company snapshotRyan Specialty Holdings offers specialized insurance products and solutions, including wholesale brokerage, underwriting, product development, administration, and risk management services.It operates as a wholesale broker and managing underwriter, generating revenue through distribution and underwriting fees from insurance brokers, agents, and carriers.The company serves insurance intermediaries and carriers seeking tailored risk solutions in the specialty insurance market.Ryan Specialty Holdings is a leading provider of specialty insurance solutions with a focus on wholesale brokerage and managing underwriting services. The company leverages its scale and expertise to deliver comprehensive products and risk management to insurance intermediaries and carriers. Its business model emphasizes fee-based revenue streams and strategic positioning within the specialty insurance sector.
What this transaction means for investorsDirector Anthony Kuczinski’s June 11 and 12 purchase of Ryan Specialty Holdings stock suggests he has a bullish outlook towards the company. This is reinforced by the substantial size of his buy, which increased holdings nearly 30%.
It seems Kuczinski was capitalizing on the the fall in Ryan Specialty shares, which hit a 52-week low $29.28 in May. The drop was due to the company lowering its 2026 guidance from year-over-year organic revenue growth in the high single digits to the mid-single digits. The insurance industry is seeing softness, which contributed to the lower forecast.
That said, Ryan Specialty’s 2026 is off to a strong start. Revenue in the first quarter rose 15% year over year to $795.2 million, while net income came in at $40.6 million, a dramatic reversal from the $4.4 million net loss in the prior year.
Ryan Specialty’s success and its share price drop may have been catalysts for Kuczinski’s buy. Moreover, the stock’s price-to-sales ratio of 1.7 is near a low point for the past year, indicating its valuation is at an appealing level, and suggesting now is a good time to buy.
Robert Izquierdo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
CHICAGO--(BUSINESS WIRE)--Ryan Turner Specialty ("RT Specialty"), a leading wholesale distributor of specialty insurance products and services and the wholesale broking specialty of Ryan Specialty (NYSE: RYAN), is pleased to announce a planned leadership succession, which highlights the deep roster of talent at the firm. These appointments are effective August 1, 2026.
The plan includes:
Ed McCormack, CEO of RT Specialty, will transition to the role of Vice Chairman and remain in that role through 2027. Since the firm's inception, Ed has been one of the driving forces behind RT Specialty's rise as a leader in the specialty insurance market, and has been integral to the strategic direction, talent building and relationship development that have made RT Specialty synonymous with expertise, speed and execution. Brendan Mulshine, Co-President of Ryan Specialty, will assume the additional role of CEO of RT Specialty, working closely with leadership to drive accelerated growth and deepen relationships with retail broker clients and carrier trading partners. Brendan joined the firm in 2012 and has worked across all of its business units, including RT Specialty, as part of a 30-year career in law, insurance and reinsurance. Brenda (Ballard) Austenfeld, Co-President of RT Specialty and CEO of its National Property Practice, who has built this business into a recognized leader in specialized and catastrophic risk, will become Deputy Vice Chairman of RT Specialty. Hugh Mooney, President of the National Property Practice with over two decades of expertise in wholesale insurance, will become CEO of the Property Practice. Chris Houska, CEO of RT Specialty’s National Casualty Practice, who has been part of the firm’s leadership since 2010, will become Vice Chairman of the National Casualty Practice through 2027. Ryan Grimes, President of the National Casualty Practice with twenty years of experience in wholesale insurance, will become CEO of the casualty practice. "Ed McCormack is one of the main architects of RT Specialty, and his fingerprints are on virtually everything that has made this firm great,” said Tim Turner, CEO of Ryan Specialty and Chairman of RT Specialty. “Ed's strategic thinking and relentless work ethic have helped us build the most expert and hardest-working wholesale team in the business, and I am grateful that he will continue as Vice Chairman providing his judgement and vision for the firm and our people.”
Tim Turner continued, “Brendan is the ideal leader to take the reins as RT’s CEO, as he shares our conviction that success in this market is earned through superior insight, disciplined execution and an unwavering commitment to our clients and trading partners. Under Brendan's leadership, and with the support of a deep and seasoned team, RT Specialty will continue to build on its exceptional foundation."
"Helping build RT Specialty alongside Pat, Tim and this world-class team has been a privilege," said Ed McCormack. "I will always be proud of the culture, talent and relationships we have created over the past 16 years. Brendan is a phenomenal leader and the right person to drive RT Specialty forward, and I look forward to continuing to support him, our teammates and our clients in my new role."
"It is a tremendous honor to step into this role, and I want to thank Ed for everything he has built, the example he has set, and his continued partnership," said Brendan Mulshine. " We have the best brokers and underwriters in the business, and we intend to keep winning the way RT always has—by outworking and out-executing for the benefit of our clients and trading partners. I could not be more excited about what's ahead."
Brendan Mulshine added, “Brenda, Hugh, Chris and Ryan each bring extensive experience in the insurance industry and at RT Specialty. These leadership transitions highlight the deep roster of talent we’ve built, and I look forward to working even more closely with them in our respective new roles.”
About RT Specialty
RT Specialty is a leading wholesale distributor of specialty insurance products and services and the wholesale broking specialty of Ryan Specialty. The firm's specialist brokers handle an expansive mix of property, casualty, professional lines, transportation, personal lines and workers' compensation insurance products, on both an open market and delegated authority basis. RT Specialty's entrepreneurial spirit is combined with advanced risk modeling, market access, and claims advocacy to provide excellent solutions to its clients. Regardless of account size—big or small—RT Specialty is dedicated to providing lightning fast, expert advice, advocacy and execution on behalf of our retail broker clients. Learn more at rtspecialty.com.
- Total Revenue grew 15.2% year-over-year to $795.2 million -
- Organic Revenue Growth Rate* of 11.8% year-over-year -
- Net Income of $40.6 million, or $0.13 per diluted share -
- Adjusted EBITDAC* grew 15.7% year-over-year to $232.0 million -
- Adjusted Net Income increased 21.2% year-over-year to $130.7 million -
- Adjusted Diluted Earnings Per Share grew 20.5% or $0.47 per diluted share -
- Returned approximately $64.8 million to shareholders, including $40.0 million of share repurchases, and $24.8 million of dividends and distributions -
CHICAGO--(BUSINESS WIRE)--Ryan Specialty Holdings, Inc. (NYSE: RYAN) (“Ryan Specialty” or the “Company”), a leading international specialty insurance firm, today announced results for the first quarter ended March 31, 2026.
First Quarter 2026 Highlights
Revenue grew 15.2% year-over-year to $795.2 million, compared to $690.2 million in the prior-year period Organic Revenue Growth Rate* was 11.8% for the quarter, compared to 12.9% in the prior-year period Net Income increased year-over-year to $40.6 million, compared to a loss of $(4.4) million in the prior-year period. Diluted Earnings Per Share was $0.13 Adjusted EBITDAC* increased 15.7% to $232.0 million, compared to $200.5 million in the prior-year period Adjusted EBITDAC Margin* of 29.2%, compared to 29.1% in the prior-year period Adjusted Net Income* increased 21.2% to $130.7 million, compared to $107.8 million in the prior-year period Adjusted Diluted Earnings Per Share* increased 20.5% to $0.47, compared to $0.39 in the prior-year period Returned approximately $64.8 million to shareholders through $40.0 million of Class A common stock repurchases, representing 1.0 million shares, and $24.8 million of dividends and distributions “It was a strong start to 2026 for Ryan Specialty in the face of continued and increasing industry headwinds,” said Patrick G. Ryan, Founder and Executive Chairman of Ryan Specialty. “We grew total revenue 15%, driven by organic growth of 11.8% and contributions from M&A. We grew Adjusted EBITDAC by 15.7% and Adjusted Diluted EPS by 20.5%. Our performance this quarter speaks to the dedication of our team, their ability to succeed in challenging times, and the diversified enterprise we have purposefully built over the years. Through one of the most efficient and effective insurance distribution platforms in the word, we are delivering innovative solutions for our clients - brokers, agents, and carriers, that are difficult to replicate elsewhere. While we expect the environment to remain considerably challenging in the near term, we are confident that our continued investment in the platform, paired with our ability to innovate alongside our clients and capital trading partners, will further strengthen our position as a leader in specialty insurance.”
“I am proud of our team's tireless execution during the quarter as we continue to win business and increase market share in a very competitive environment,” added Timothy W. Turner, Chief Executive Officer of Ryan Specialty. “Along with our strong performance, we are continuing to invest broadly in our technology, AI, and data capabilities to ensure we are providing our clients with the expertise and advocacy they expect to solve their most complex insurance needs. We remain focused on controlling what we can control given the challenging environment. We are enhancing our competitive advantage and continuing to build and expand a platform that is designed to endure across market cycles.”
Summary of First Quarter 2026 Results
Three Months Ended
March 31,
Change
(in thousands, except percentages and per share data)
2026
2025
$
%
GAAP financial measures
Total revenue
$
795,229
$
690,166
$
105,063
15.2
%
Net commissions and fees
782,903
676,128
106,775
15.8
Compensation and benefits
495,176
430,289
64,887
15.1
General and administrative
108,761
106,060
2,701
2.5
Total operating expenses
700,633
589,931
110,702
18.8
Operating income
94,596
100,235
(5,639
)
(5.6
)
Net income (loss)
40,597
(4,389
)
44,986
NM
Net income (loss) attributable to Ryan Specialty Holdings, Inc.
17,646
(27,642
)
45,288
NM
Compensation and benefits expense ratio (1)
62.3
%
62.3
%
General and administrative expense ratio (2)
13.7
%
15.4
%
Net income (loss) margin (3)
5.1
%
(0.6
%)
Earnings (loss) per share (4)
$
0.14
$
(0.22
)
Diluted earnings (loss) per share (4)
$
0.13
$
(0.22
)
Non-GAAP financial measures*
Organic revenue growth rate
11.8
%
12.9
%
Adjusted compensation and benefits expense
$
461,832
$
397,428
$
64,404
16.2
%
Adjusted compensation and benefits expense ratio
58.1
%
57.6
%
Adjusted general and administrative expense
$
101,365
$
92,237
$
9,128
9.9
%
Adjusted general and administrative expense ratio
12.7
%
13.4
%
Adjusted EBITDAC
$
232,033
$
200,501
$
31,532
15.7
%
Adjusted EBITDAC margin
29.2
%
29.1
%
Adjusted net income
$
130,728
$
107,839
$
22,889
21.2
%
Adjusted net income margin
16.4
%
15.6
%
Adjusted diluted earnings per share
$
0.47
$
0.39
$
0.08
20.5
%
*
For a definition and a reconciliation of Organic revenue growth rate, Adjusted compensation and benefits expense, Adjusted compensation and benefits ratio, Adjusted general and administrative expense, Adjusted general and administrative expense ratio, Adjusted EBITDAC, Adjusted EBITDAC margin, Adjusted net income, Adjusted net income margin, and Adjusted diluted earnings per share to the most directly comparable GAAP measure, see “Non-GAAP Financial Measures and Key Performance Indicators” below.
(1)
Compensation and benefits expense ratio is defined as Compensation and benefits divided by Total revenue.
(2)
General and administrative expense ratio is defined as General and administrative expense divided by Total revenue.
(3)
Net income margin is defined as Net income divided by Total revenue.
(4)
See “Note 10, Earnings (Loss) Per Share” of the unaudited quarterly consolidated financial statements.
First Quarter 2026 Review*
Total revenue for the first quarter of 2026 was $795.2 million, an increase of 15.2% compared to $690.2 million in the prior-year period. This increase was primarily due to continued organic revenue growth of 11.8%, driven by new client wins and expanded relationships with existing clients, coupled with continued expansion of the specialty and E&S markets, revenue from acquisitions completed within the trailing twelve months ended March 31, 2026, and growth in contingent commissions. We experienced growth across the majority of our casualty lines, offset by a moderate decline in our property portfolio.
Total operating expenses for the first quarter of 2026 were $700.6 million, an 18.8% increase compared to $589.9 million in the prior-year period. This increase was primarily due to higher Compensation and benefits expenses resulting from growth in headcount and revenue and an increase in Restructuring and related expense due to the Empower Program initiated in the first quarter of 2026. General and administrative expense also increased compared to the prior-year period due to an increase in professional services and IT charges, as well as costs directly linked to revenue growth, recruiter fees, higher expenses to accommodate both organic and inorganic revenue growth, and an increase in Restructuring and related expense due to the Empower Program, partially offset by lower Acquisition-related expenses.
Net income for the first quarter of 2026 increased to $40.6 million, compared to a loss of $(4.4) million in the prior-year period. The increase was due to strong revenue growth and lower Income tax expense, partially offset by higher Total operating expenses compared to the prior-year period.
Adjusted EBITDAC grew 15.7% to $232.0 million from $200.5 million in the prior-year period. Adjusted EBITDAC margin for the quarter was 29.2%, compared to 29.1% in the prior-year period. The increase in Adjusted EBITDAC was driven primarily by strong revenue growth, partially offset by higher Adjusted compensation and benefits expense, as well as higher Adjusted general and administrative expense.
Adjusted net income for the first quarter of 2026 increased 21.2% to $130.7 million, compared to $107.8 million in the prior-year period. Adjusted net income margin was 16.4%, compared to 15.6% in the prior-year period. Adjusted diluted earnings per share for the first quarter of 2026 increased 20.5% to $0.47, compared to $0.39 in the prior-year period.
First Quarter 2026 Net Commissions and Fees by Specialty and Revenue by Type
Growth in Net commissions and fees in all specialties was primarily driven by strong organic growth.
Three Months Ended March 31,
(in thousands, except percentages)
2026
% of
total
2025
% of
total
Change
Wholesale Brokerage
$
377,796
48.3
%
$
360,788
53.4
%
$
17,008
4.7
%
Binding Authority
110,000
14.0
101,950
15.1
8,050
7.9
Underwriting Management
295,107
37.7
213,390
31.5
81,717
38.3
Total Net commissions and fees
$
782,903
$
676,128
$
106,775
15.8
%
The following tables sets forth our revenue by type of commission and fees:
Three Months Ended March 31,
(in thousands, except percentages)
2026
% of
total
2025
% of
total
Change
Net commissions and policy fees
$
717,553
91.7
%
$
623,966
92.3
%
$
93,587
15.0
%
Supplemental and contingent commissions
49,117
6.3
37,773
5.6
11,344
30.0
Loss mitigation and other fees
16,233
2.0
14,389
2.1
1,844
12.8
Total Net commissions and fees
$
782,903
$
676,128
$
106,775
15.8
%
Liquidity and Financial Condition
As of March 31, 2026, the Company had Cash and cash equivalents of $154.7 million and outstanding debt principal of $3.6 billion.
Capital Return
In the first quarter, the Company returned approximately $64.8 million to shareholders through $40.0 million of Class A common stock repurchases, representing 1.0 million shares, and $24.8 million of dividends and distributions. As of March 31, 2026, the Company had $260.0 million of remaining authorization under its share repurchase program.
Additionally, on April 30, 2026, the Company’s board of directors declared a quarterly dividend of $0.13 per share on the outstanding Class A common stock. The quarterly dividend will be payable on May 26, 2026, to stockholders of record as of the close of business on May 12, 2026. A portion of the dividend, $0.06 per share, will be funded by free cash flow from Ryan Specialty, LLC and will be paid to all holders of the Company’s Class A common stock and the holders of the LLC Common Units (as defined below).
Full Year 2026 Guidance*
The Company is updating its full year 2026 guidance for Organic Revenue Growth Rate and Adjusted EBITDAC Margin as follows:
We are guiding to an Organic Revenue Growth Rate in the mid-single digits for 2026 We are guiding to an Adjusted EBITDAC Margin that is down 100 - 150 basis points for 2026, as compared to the prior year Executive Chairman Stock Option Program
On April 30, 2026, the Company announced a special, one-time stock option grant program, funded entirely by Executive Chairman, Patrick G. Ryan, through the Ryan Stock Option Trust. The program is designed to be net neutral to the Company's outstanding share count and is intended to support employee alignment. Please refer to the Company's 8-K filed with the SEC for more information.
Conference Call Information
Ryan Specialty will hold a conference call to discuss the financial results at 4:45pm Eastern Time on April 30, 2026. Interested parties may access the conference call through the live webcast, which can be accessed at https://ryan-specialty-q1-2026-earnings-call.open-exchange.net/registration or by visiting the Company’s Investor Relations website. Please join the live webcast at least 10 minutes prior to the scheduled start time.
A webcast replay of the call will be available on the Company’s website at ryanspecialty.com in its Investors section for one year following the call.
About Ryan Specialty
Founded in 2010, Ryan Specialty (NYSE: RYAN) is a service provider of specialty products and solutions for insurance brokers, agents, and carriers. Ryan Specialty provides distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter with delegated authority from insurance carriers. Our mission is to provide industry-leading innovative specialty insurance solutions for insurance brokers, agents, and carriers. Learn more at ryanspecialty.com.
Forward-Looking Statements
All statements in this release and in the corresponding earnings call that are not historical are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve substantial risks and uncertainties. For example, all statements the Company makes relating to its estimated and projected costs, expenditures, cash flows, growth rates and financial results, its plans, anticipated amount and timing of cost savings relating to the restructuring plan, or its plans and objectives for future operations, growth initiatives, or strategies and the statements under the caption “Full Year 2026 Outlook” are forward-looking statements. Words such as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,” “should,” “can have,” “likely” and variations of such words and similar expressions are intended to identify such forward-looking statements. All forward-looking statements are subject to risks and uncertainties, known and unknown, that may cause actual results to differ materially from those that the Company expected. Specific factors that could cause such a difference include, but are not limited to, those disclosed previously in the Company’s filings with the Securities and Exchange Commission (“SEC”).
For more detail on the risk factors that may affect the Company’s results, see the section entitled “Risk Factors” in our most recent annual report on Form 10-K filed with the SEC, and in other documents filed with, or furnished to, the SEC. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Given these factors, as well as other variables that may affect the Company’s operating results, you are cautioned not to place undue reliance on these forward-looking statements, not to assume that past financial performance will be a reliable indicator of future performance, and not to use historical trends to anticipate results or trends in future periods. The forward-looking statements included in this press release and on the related earnings call relate only to events as of the date hereof. The Company does not undertake, and expressly disclaims, any duty or obligation to update publicly any forward-looking statement after the date of this release, whether as a result of new information, future events, changes in assumptions, or otherwise.
Non-GAAP Financial Measures and Key Performance Indicators
In assessing the performance of the Company’s business, non-GAAP financial measures are used that are derived from the Company’s consolidated financial information, but which are not presented in the Company’s consolidated financial statements prepared in accordance with GAAP. The Company considers these non-GAAP financial measures to be useful metrics for management and investors to facilitate operating performance comparisons from period to period by excluding potential differences caused by variations in capital structures, tax positions, depreciation, amortization, and certain other items that the Company believes are not representative of its core business. The Company uses the following non-GAAP measures for business planning purposes, in measuring performance relative to that of its competitors, to help investors to understand the nature of the Company’s growth, and to enable investors to evaluate the run-rate performance of the Company. Non-GAAP financial measures should be viewed as supplementing, and not as an alternative or substitute for, the consolidated financial statements prepared and presented in accordance with GAAP. The footnotes to the reconciliation tables below should be read in conjunction with the unaudited consolidated quarterly financial statements in the Company’s Quarterly Report on form 10-Q filed with the SEC. Industry peers may provide similar supplemental information but may not define similarly-named metrics in the same way and may not make identical adjustments.
Organic revenue growth rate: Organic revenue growth rate represents the percentage change in Net commissions and fees, as compared to the same period for the prior year, adjusted to eliminate revenue attributable to acquisitions for the first twelve months of ownership, revenue attributable to sold businesses for the subsequent twelve months after the sale, and other items such as contingent commissions and the impact of changes in foreign exchange rates.
Adjusted compensation and benefits expense: Adjusted compensation and benefits expense is defined as Compensation and benefits expense adjusted to reflect items such as (i) equity-based compensation, (ii) acquisition and restructuring related compensation expenses, and (iii) other exceptional or non-recurring compensation expenses, as applicable. The most directly comparable GAAP financial metric is Compensation and benefits expense.
Adjusted general and administrative expense: Adjusted general and administrative expense is defined as General and administrative expense adjusted to reflect items such as (i) acquisition and restructuring related general and administrative expenses, and (ii) other exceptional or non-recurring general and administrative expenses, as applicable. The most directly comparable GAAP financial metric is General and administrative expense.
Adjusted compensation and benefits expense ratio: Adjusted compensation and benefits expense ratio is defined as the Adjusted compensation and benefits expense as a percentage of Total revenue. The most directly comparable GAAP financial metric is Compensation and benefits expense ratio.
Adjusted general and administrative expense ratio: Adjusted general and administrative expense ratio is defined as the Adjusted general and administrative expense as a percentage of Total revenue. The most directly comparable GAAP financial metric is General and administrative expense ratio.
Adjusted EBITDAC: Adjusted EBITDAC is defined as Net income before Interest expense, net, Income tax expense, Depreciation, Amortization, and Change in contingent consideration, adjusted to reflect items such as (i) equity-based compensation, (ii) acquisition-related expenses, and (iii) other exceptional or non-recurring items, as applicable. Acquisition-related expense includes one-time diligence, transaction-related, and integration costs. Acquisition-related long-term incentive compensation arises from long-term incentive plans associated with acquisitions. These plans require service requirements, and in some cases performance targets, to be met in order to be earned. Restructuring and related expense consists of compensation and benefits, contractors, professional services, and license fees related to the Empower Program, which was initiated at the beginning of 2026. The compensation and benefits expense includes severance as well as employment costs related to services rendered between the notification and termination dates and other termination payments. Amortization and expense is composed of charges related to discontinued prepaid incentive programs. For the three months ended March 31, 2026, Other non-operating income consisted of $0.5 million of forfeitures of vested equity awards, $0.1 million of seller reimbursement of acquisition-related retention incentives, and $0.1 million of sublease income. For the three months ended March 31, 2025, Other non-operating income consisted of $0.3 million of seller reimbursement of acquisition-related retention incentives and $0.1 million of sublease income. Equity-based compensation reflects non-cash equity-based expense. IPO related expenses consist of compensation-related expense primarily related to the expense for new awards issued at IPO, as well as expense related to the revaluation of existing equity awards at IPO.
Adjusted EBITDAC margin: Adjusted EBITDAC margin is defined as Adjusted EBITDAC as a percentage of Total revenue. The most directly comparable GAAP financial metric is Net income margin.
Adjusted net income: Adjusted net income is defined as tax-effected earnings before amortization and certain items of income and expense, gains and losses, equity-based compensation, acquisition related long-term incentive compensation, acquisition-related expenses, costs associated with our IPO, and certain exceptional or non-recurring items. The Company will be subject to United States federal income taxes, in addition to state, local, and foreign taxes, with respect to its allocable share of any net taxable income of Ryan Specialty, LLC (together with its parent New Ryan Specialty, LLC and their subsidiaries, the “LLC”). For comparability purposes, this calculation incorporates the impact of federal and state statutory tax rates on 100% of the Company’s adjusted pre-tax income as if the Company owned 100% of Ryan Specialty, LLC. The most directly comparable GAAP financial metric is Net income.
Adjusted net income margin: Adjusted net income margin is defined as Adjusted net income as a percentage of Total revenue. The most directly comparable GAAP financial metric is Net income margin.
Adjusted diluted earnings per share: Adjusted diluted earnings per share is defined as Adjusted net income divided by diluted shares outstanding after adjusting for the effect if 100% of the outstanding LLC Common Units (“LLC Common Units”), together with the shares of Class B common stock, vested Class C Incentive Units, vested but unexercised Options, and unvested equity awards were exchanged into shares of Class A common stock as if 100% of unvested equity awards were vested. The most directly comparable GAAP financial metric is Diluted earnings per share.
Credit Adjusted EBITDAC: Credit Adjusted EBITDAC is defined as Adjusted EBITDAC as further adjusted without duplication for: acquired EBITDAC from the beginning of the applicable twelve month reference period through the acquisition close date, certain annualized run rate expected cost savings and initiatives, and certain other adjustments as permitted in calculating leverage ratios under our debt agreements. The Company presents Credit Adjusted EBITDAC as an additional measure of liquidity and leverage. The calculation of Credit Adjusted EBITDAC pursuant to our debt agreements permits certain estimates and assumptions that may differ from actual results.
The summary unaudited consolidated financial data presented for the twelve months ended March 31, 2026, was derived by adding the consolidated financial data of the Company for the twelve months ended December 31, 2025, to the consolidated financial data of the Company for the three months ended March 31, 2026, and subtracting the consolidated financial data of the Company for the three months ended March 31, 2025. The summary unaudited consolidated financial data for the twelve months ended March 31, 2026, has been prepared for illustrative purposes only and is not necessarily representative of our results of operations for any future period or our financial condition at any future date.
The reconciliation of the above non-GAAP measures to each of their most directly comparable GAAP financial measure is set forth in the reconciliation table accompanying this release.
With respect to the Organic revenue growth rate and Adjusted EBITDAC margin outlook presented in the “Full Year 2026 Outlook” section of this press release, the Company is unable to provide a comparable outlook for, or a reconciliation to, Total revenue growth rate or Net income margin because it cannot provide a meaningful or accurate calculation or estimation of certain reconciling items without unreasonable effort. Its inability to do so is due to the inherent difficulty in forecasting the timing of items that have not yet occurred and quantifying certain amounts that are necessary for such reconciliation, including variations in effective tax rate, expenses to be incurred for acquisition activities, and other one-time or exceptional items.
Consolidated Statements of Income (Unaudited)
Three Months Ended
March 31,
(in thousands, except percentages and per share data)
2026
2025
Revenue
Net commissions and fees
$
782,903
$
676,128
Fiduciary investment income
12,326
14,038
Total revenue
$
795,229
$
690,166
Expenses
Compensation and benefits
495,176
430,289
General and administrative
108,761
106,060
Amortization
65,340
64,985
Depreciation
4,062
2,639
Change in contingent consideration
27,294
(14,042
)
Total operating expenses
$
700,633
$
589,931
Operating income
$
94,596
$
100,235
Interest expense, net
53,733
54,508
Income from equity method investments
(5,531
)
(4,937
)
Other non-operating income
(711
)
(377
)
Income before income taxes
$
47,105
$
51,041
Income tax expense
6,508
55,430
Net income (loss)
$
40,597
$
(4,389
)
GAAP financial measures
Total revenue
$
795,229
$
690,166
Net commissions and fees
782,903
676,128
Compensation and benefits
495,176
430,289
General and administrative
108,761
106,060
Net income (loss)
40,597
(4,389
)
Compensation and benefits expense ratio (1)
62.3
%
62.3
%
General and administrative expense ratio (2)
13.7
%
15.4
%
Net income (loss) margin (3)
5.1
%
(0.6
%)
Earnings (loss) per share (4)
$
0.14
$
(0.22
)
Diluted earnings (loss) per share (4)
$
0.13
$
(0.22
)
Non-GAAP Financial Measures (Unaudited)
Three Months Ended
March 31,
(in thousands, except percentages and per share data)
2026
2025
Non-GAAP financial measures*
Organic revenue growth rate
11.8
%
12.9
%
Adjusted compensation and benefits expense
$
461,832
$
397,428
Adjusted compensation and benefits expense ratio
58.1
%
57.6
%
Adjusted general and administrative expense
$
101,365
$
92,237
Adjusted general and administrative expense ratio
12.7
%
13.4
%
Adjusted EBITDAC
$
232,033
$
200,501
Adjusted EBITDAC margin
29.2
%
29.1
%
Adjusted net income
$
130,728
$
107,839
Adjusted net income margin
16.4
%
15.6
%
Adjusted diluted earnings per share
$
0.47
$
0.39
Consolidated Balance Sheets (Unaudited)
(in thousands, except share and per share data)
March 31, 2026
December 31, 2025
ASSETS
CURRENT ASSETS
Cash and cash equivalents
$
154,650
$
158,322
Commissions and fees receivable – net
565,259
488,951
Fiduciary cash and receivables
4,764,338
4,298,920
Prepaid incentives – net
15,326
13,550
Other current assets
79,255
100,437
Total current assets
$
5,578,828
$
5,060,180
NON-CURRENT ASSETS
Goodwill
3,217,450
3,225,021
Customer relationships
1,433,397
1,496,885
Other intangible assets
127,052
119,621
Prepaid incentives – net
29,718
27,849
Equity method investments
116,431
109,982
Property and equipment – net
66,138
69,461
Lease right-of-use assets
125,802
130,480
Deferred tax assets
305,565
310,138
Other non-current assets
11,257
14,554
Total non-current assets
$
5,432,810
$
5,503,991
TOTAL ASSETS
$
11,011,638
$
10,564,171
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable and accrued liabilities
$
341,742
$
284,403
Accrued compensation
257,275
519,251
Operating lease liabilities
27,189
25,987
Tax Receivable Agreement liabilities
30,047
—
Short-term debt and current portion of long-term debt
35,364
60,187
Fiduciary liabilities
4,764,338
4,298,920
Total current liabilities
$
5,455,955
$
5,188,748
NON-CURRENT LIABILITIES
Accrued compensation
81,362
70,096
Operating lease liabilities
146,200
153,089
Long-term debt
3,533,913
3,291,462
Tax Receivable Agreement liabilities
430,797
458,997
Deferred tax liabilities
47,354
49,834
Other non-current liabilities
97,003
97,894
Total non-current liabilities
$
4,336,629
$
4,121,372
TOTAL LIABILITIES
$
9,792,584
$
9,310,120
STOCKHOLDERS’ EQUITY
Class A common stock ($0.001 par value; 1,000,000,000 shares authorized, 128,867,457 and 129,603,426 shares issued and outstanding at March 31, 2026, and December 31, 2025, respectively)
129
130
Class B common stock ($0.001 par value; 984,748,069 shares authorized and 134,351,649 shares issued and outstanding at March 31, 2026; 1,000,000,000 shares authorized and 134,508,885 shares issued and outstanding at December 31, 2025)
134
135
Preferred stock ($0.001 par value; 500,000,000 shares authorized, 0 shares issued and outstanding at March 31, 2026, and December 31, 2025)
—
—
Additional paid-in capital
506,021
513,610
Retained earnings
120,528
120,353
Accumulated other comprehensive income
9,390
13,845
Total stockholders’ equity attributable to Ryan Specialty Holdings, Inc.
$
636,202
$
648,073
Non-controlling interests
582,852
605,978
Total stockholders’ equity
$
1,219,054
$
1,254,051
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
$
11,011,638
$
10,564,171
Consolidated Statements of Cash Flows (Unaudited)
Three Months Ended
March 31,
(in thousands)
2026
2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)
$
40,597
$
(4,389
)
Adjustments to reconcile net income (loss) to cash flows provided by operating activities:
Income from equity method investments
(5,531
)
(4,937
)
Amortization
65,340
64,985
Depreciation
4,062
2,639
Prepaid and deferred compensation expense
13,700
10,799
Non-cash equity-based compensation
17,351
19,873
Amortization of deferred debt issuance costs
2,422
2,374
Amortization of interest rate cap premium
—
1,739
Deferred income tax expense
3,142
2,720
Deferred income tax expense from common control reorganization
—
48,115
Changes in operating assets and liabilities, net of acquisitions:
Commissions and fees receivable – net
(77,800
)
(17,088
)
Accrued interest liability
(21,470
)
(11,801
)
Other current and non-current assets
18,524
41,130
Other current and non-current liabilities
(227,748
)
(298,984
)
Total cash flows used in operating activities
$
(167,411
)
$
(142,825
)
CASH FLOWS FROM INVESTING ACTIVITIES
Business combinations – net of cash acquired and cash held in a fiduciary capacity
—
(555,641
)
Capital expenditures
(13,265
)
(16,730
)
Asset acquisitions
—
(664
)
Total cash flows used in investing activities
$
(13,265
)
$
(573,035
)
CASH FLOWS FROM FINANCING ACTIVITIES
Borrowings on Revolving Credit Facility
524,942
574,056
Repayments on Revolving Credit Facility
(279,375
)
(150,000
)
Debt issuance costs paid
—
(1,548
)
Repayment of term debt
(4,250
)
(4,250
)
Receipt of contingently returnable consideration
3,140
1,927
Payment of contingent consideration
(17
)
(25,150
)
Tax distributions to non-controlling LLC Unitholders
(1,294
)
—
Receipt of taxes related to net share settlement of equity awards
1,714
1,569
Taxes paid related to net share settlement of equity awards
(1,496
)
(1,700
)
Class A common stock dividends and Dividend Equivalents paid
(16,795
)
(15,074
)
Distributions and Declared Distributions paid to non-controlling LLC Unitholders
(8,071
)
(6,796
)
Repurchases of Class A common stock
(40,019
)
—
Payments related to Ryan Re preferred units
—
(85
)
Net change in fiduciary liabilities
(92,194
)
(36,109
)
Total cash flows provided by financing activities
$
86,285
$
336,840
Effect of changes in foreign exchange rates on cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity
(5,191
)
10,081
NET CHANGE IN CASH, CASH EQUIVALENTS, AND CASH AND CASH EQUIVALENTS HELD IN A FIDUCIARY CAPACITY
$
(99,582
)
$
(368,939
)
CASH, CASH EQUIVALENTS, AND CASH AND CASH EQUIVALENTS HELD IN A FIDUCIARY CAPACITY—Beginning balance
1,584,470
1,680,805
CASH, CASH EQUIVALENTS, AND CASH AND CASH EQUIVALENTS HELD IN A FIDUCIARY CAPACITY—Ending balance
$
1,484,888
$
1,311,866
Reconciliation of cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity
Cash and cash equivalents
$
154,650
$
203,549
Cash and cash equivalents held in a fiduciary capacity
1,330,238
1,108,317
Total cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity
$
1,484,888
$
1,311,866
Reconciliation of Organic Revenue Growth Rate
Three Months Ended
March 31,
(in thousands, except percentages)
2026
2025
Current period Net commissions and fees revenue
$
782,903
$
676,128
Less: Current period contingent commissions
(42,373
)
(30,463
)
Less: Revenue attributable to sold businesses
(13
)
(146
)
Net commissions and fees revenue excluding contingent commissions
$
740,517
$
645,519
Prior period Net commissions and fees revenue
$
676,128
$
537,887
Less: Prior year contingent commissions
(30,463
)
(24,503
)
Less: Revenue attributable to sold businesses
(657
)
(539
)
Prior period Net commissions and fees revenue excluding contingent commissions
$
645,008
$
512,845
Change in Net commissions and fees revenue excluding contingent commissions
$
95,509
$
132,674
Less: Mergers and acquisitions Net commissions and fees revenue excluding contingent commissions
(15,246
)
(67,155
)
Impact of change in foreign exchange rates
(3,863
)
430
Organic revenue growth (Non-GAAP)
$
76,400
$
65,949
Net commissions and fees revenue growth rate (GAAP)
15.8
%
25.7
%
Less: Impact of contingent commissions (1)
(1.0
)
0.2
Net commissions and fees revenue excluding contingent commissions growth rate (2)
14.8
%
25.9
%
Less: Mergers and acquisitions Net commissions and fees revenue excluding contingent commissions (3)
(2.4
)
(13.1
)
Impact of change in foreign exchange rates (4)
(0.6
)
0.1
Organic Revenue Growth Rate (Non-GAAP)
11.8
%
12.9
%
(1)
Calculated by subtracting Net commissions and fees revenue growth rate from net commissions and fees revenue excluding contingent commissions growth rate and revenue from sold businesses.
(2)
Calculated by dividing the change in Total net commissions & fees revenue excluding contingent commissions by prior year net commissions and fees excluding contingent commissions and revenue from sold businesses.
(3)
Calculated by taking the mergers and acquisitions net commissions and fees revenue excluding contingent commissions, representing the first 12 months of net commissions and fees revenue generated from acquisitions, divided by prior period net commissions and fees revenue excluding contingent commissions and revenue from sold businesses.
(4)
Calculated by taking the change in foreign exchange rates divided by prior period net commissions and fees revenue excluding contingent commissions and revenue from sold businesses.
Reconciliation of Adjusted Compensation and Benefits Expense to Compensation and Benefits Expense
Three Months Ended
March 31,
(in thousands, except percentages)
2026
2025
Total revenue
$
795,229
$
690,166
Compensation and benefits expense
$
495,176
$
430,289
Acquisition-related expense
(3,411
)
(3,479
)
Acquisition related long-term incentive compensation
(9,287
)
(8,331
)
Restructuring and related expense
(2,465
)
—
Amortization and expense related to discontinued prepaid incentives
(830
)
(1,178
)
Equity-based compensation
(14,309
)
(14,569
)
Initial public offering related expense
(3,042
)
(5,304
)
Adjusted compensation and benefits expense (1)
$
461,832
$
397,428
Compensation and benefits expense ratio
62.3
%
62.3
%
Adjusted compensation and benefits expense ratio
58.1
%
57.6
%
Reconciliation of Adjusted General and Administrative Expense to General and Administrative Expense
Three Months Ended
March 31,
(in thousands, except percentages)
2026
2025
Total revenue
$
795,229
$
690,166
General and administrative expense
$
108,761
$
106,060
Acquisition-related expense
(3,990
)
(13,823
)
Restructuring and related expense
(3,406
)
—
Adjusted general and administrative expense (1)
$
101,365
$
92,237
General and administrative expense ratio
13.7
%
15.4
%
Adjusted general and administrative expense ratio
12.7
%
13.4
%
Reconciliation of Adjusted EBITDAC to Net Income
Three Months Ended
March 31,
(in thousands, except percentages)
2026
2025
Total revenue
$
795,229
$
690,166
Net income (loss)
$
40,597
$
(4,389
)
Interest expense, net
53,733
54,508
Income tax expense
6,508
55,430
Depreciation
4,062
2,639
Amortization
65,340
64,985
Change in contingent consideration (1)
27,294
(14,042
)
EBITDAC
$
197,534
$
159,131
Acquisition-related expense
7,402
17,302
Acquisition related long-term incentive compensation
9,287
8,331
Restructuring and related expense
5,871
—
Amortization and expense related to discontinued prepaid incentives
830
1,178
Other non-operating income
(711
)
(377
)
Equity-based compensation
14,309
14,569
IPO related expenses
3,042
5,304
Income from equity method investments
(5,531
)
(4,937
)
Adjusted EBITDAC
$
232,033
$
200,501
Net income (loss) margin
5.1
%
(0.6
)%
Adjusted EBITDAC margin
29.2
%
29.1
%
Reconciliation of Adjusted Net Income to Net Income
Three Months Ended
March 31,
(in thousands, except percentages)
2026
2025
Total revenue
$
795,229
$
690,166
Net income (loss)
$
40,597
$
(4,389
)
Income tax expense
6,508
55,430
Amortization
65,340
64,985
Amortization of deferred debt issuance costs (1)
2,422
2,374
Change in contingent consideration
27,294
(14,042
)
Acquisition-related expense
7,402
17,302
Acquisition related long-term incentive compensation
9,287
8,331
Restructuring and related expense
5,871
—
Amortization and expense related to discontinued prepaid incentives
830
1,178
Other non-operating income
(711
)
(377
)
Equity-based compensation
14,309
14,569
IPO related expenses
3,042
5,304
Income from equity method investments
(5,531
)
(4,937
)
Adjusted income before income taxes (2)
$
176,660
$
145,728
Adjusted income tax expense (3)
(45,932
)
(37,889
)
Adjusted net income
$
130,728
$
107,839
Net income (loss) margin
5.1
%
(0.6
)%
Adjusted net income margin
16.4
%
15.6
%
Reconciliation of Adjusted Diluted Earnings per Share to Diluted Earnings per Share
Three Months Ended
March 31,
2026
2025
Earnings (loss) per share of Class A common stock – diluted
$
0.13
$
(0.22
)
Less: Net income attributed to dilutive shares (1)
—
—
Plus: Impact of all LLC Common Units exchanged for Class A shares (2)
0.02
0.20
Plus: Adjustments to Adjusted net income (3)
0.33
0.43
Plus: Dilutive impact of unvested equity awards (4)
(0.01
)
(0.02
)
Adjusted diluted earnings per share
$
0.47
$
0.39
(Share count in ’000)
Weighted-average shares of Class A common stock outstanding – diluted
137,341
125,420
Plus: Impact of all LLC Common Units exchanged for Class A shares (2)
134,476
136,064
Plus: Dilutive impact of unvested equity awards (4)
6,824
17,783
Adjusted diluted earnings per share diluted share count
278,641
279,267
(1)
Adjustment removes the impact of Net income attributed to dilutive awards to arrive at Net income (loss) attributable to Ryan Specialty Holdings, Inc. For the three months ended March 31, 2026, this removes $0.2 million of Net income on 137.3 million Weighted-average shares of Class A common stock outstanding - diluted, respectively. See “Note 10, Earnings (Loss) Per Share” of the unaudited quarterly consolidated financial statements.
(2)
For comparability purposes, this calculation incorporates the Net income that would be distributable if all LLC Common Units (together with shares of Class B common stock) were exchanged for shares of Class A common stock. For the three months ended March 31, 2026 and 2025, this includes $23.0 million and $23.3 million of Net income, respectively, on 271.8 million and 261.5 million Weighted-average shares of Class A common stock outstanding - diluted, respectively. See “Note 10, Earnings (Loss) Per Share” of the unaudited quarterly consolidated financial statements.
(3)
Adjustments to Adjusted net income are described in the footnotes of the reconciliation of Adjusted net income to Net income (loss) in “Adjusted Net Income and Adjusted Net Income Margin” on 271.8 million and 261.5 million Weighted-average shares of Class A common stock outstanding - diluted for the three months ended March 31, 2026 and 2025, respectively.
(4)
For comparability purposes and to be consistent with the treatment of the adjustments to arrive at Adjusted net income, the dilutive effect of unvested equity awards as well as outstanding vested options and vested Class C Incentive Units is calculated using the treasury stock method as if the weighted-average unrecognized cost associated with the awards was $0 over the period, less any unvested equity awards determined to be dilutive within the Diluted EPS calculation disclosed in “Note 10, Earnings (Loss) Per Share” of the unaudited quarterly consolidated financial statements. For the three months ended March 31, 2026 and 2025, 6.8 million and 17.8 million shares were added to the calculation, respectively.
Reconciliation of Credit Adjusted EBITDAC to Net Income
(in thousands)
Twelve Months Ended
March 31, 2026
Total Revenue
$
3,156,189
Net Income
$
259,143
Interest expense, net
221,609
Income tax expense
30,105
Depreciation
14,512
Amortization
274,781
Change in contingent consideration
54,458
EBITDAC
$
854,608
Acquisition-related expense
62,201
Acquisition related long-term incentive compensation
27,537
Restructuring and related expense
5,871
Amortization and expense related to discontinued prepaid incentives
For the quarter ended March 2026, Ryan Specialty Group (RYAN - Free Report) reported revenue of $795.23 million, up 15.2% over the same period last year. EPS came in at $0.47, compared to $0.39 in the year-ago quarter.
The reported revenue represents a surprise of +3.44% over the Zacks Consensus Estimate of $768.79 million. With the consensus EPS estimate being $0.43, the EPS surprise was +8.67%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Ryan Specialty performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Fiduciary investment income: $12.33 million versus the three-analyst average estimate of $12.49 million.Revenue- Net commissions and fees: $782.9 million versus $756.31 million estimated by three analysts on average.Revenue- Net commissions and fees- Binding Authority: $110 million versus $110.37 million estimated by two analysts on average.Revenue- Net commissions and fees- Underwriting Management: $295.11 million versus the two-analyst average estimate of $255.22 million.Revenue- Net commissions and fees- Wholesale Brokerage: $377.8 million versus the two-analyst average estimate of $383.34 million.View all Key Company Metrics for Ryan Specialty here>>>
Shares of Ryan Specialty have returned +6.8% over the past month versus the Zacks S&P 500 composite's +12.2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Ryan Specialty Group (RYAN - Free Report) came out with quarterly earnings of $0.47 per share, beating the Zacks Consensus Estimate of $0.43 per share. This compares to earnings of $0.39 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +8.67%. A quarter ago, it was expected that this insurance company would post earnings of $0.5 per share when it actually produced earnings of $0.45, delivering a surprise of -10%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
Ryan Specialty, which belongs to the Zacks Insurance - Brokerage industry, posted revenues of $795.23 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 3.44%. This compares to year-ago revenues of $690.17 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Ryan Specialty shares have lost about 31.7% since the beginning of the year versus the S&P 500's gain of 4.2%.
What's Next for Ryan Specialty?While Ryan Specialty has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Ryan Specialty was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.73 on $933.98 million in revenues for the coming quarter and $2.24 on $3.36 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Insurance - Brokerage is currently in the top 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Aon (AON - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on May 1.
This insurance brokerage is expected to post quarterly earnings of $6.33 per share in its upcoming report, which represents a year-over-year change of +11.6%. The consensus EPS estimate for the quarter has been revised 0.4% lower over the last 30 days to the current level.
Aon's revenues are expected to be $4.96 billion, up 4.9% from the year-ago quarter.
SAN DIEGO, May 04, 2026 (GLOBE NEWSWIRE) -- Johnson Fistel, PLLP is investigating potential claims on behalf of investors of Ryan Specialty Holdings, Inc. (NYSE: RYAN). The investigation focuses on Ryan Specialty’s executive officers and whether investor losses may be recovered under federal securities laws.
What if I purchased Ryan Specialty securities?
If you purchased Ryan Specialty securities and suffered losses on your investment, join our investigation now: Click here to join the investigation.
Or for more information, contact Jim Baker at [email protected] or (619) 814-4471.
There is no cost or obligation to you.
Background of the investigation
On February 12, 2026, Ryan Specialty reported its fourth quarter and full year 2025 financial results. Among other things, the Company disclosed fourth quarter organic revenue growth of 6.6%, compared to 11.0% in the prior-year period, and adjusted EBITDAC margin of 29.6%, compared to 32.6% in the prior-year period.
In addition, Ryan Specialty disclosed that it was guiding to organic revenue growth in the high single digits for 2026 and adjusted EBITDAC margin that would be flat to moderately down compared to the prior year. During the Company’s earnings call, Ryan Specialty further disclosed that the fourth quarter “marked an intensification of some of these property pricing trends” and that, particularly in large accounts, the Company saw “rate decreases of 25% to 35%, which was higher than what we were seeing earlier in the year.”
Following this disclosure, Ryan Specialty’s stock price declined sharply, damaging investors.
In light of this disclosure, Johnson Fistel is investigating whether Ryan Specialty complied with the federal securities laws. If you suffered losses from your investment in Ryan Specialty stock, contact Johnson Fistel.
About Johnson Fistel, PLLP | Securities Fraud & Investor Rights
Johnson Fistel, PLLP is a nationally recognized shareholder-rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits and also assists foreign investors who purchased shares on U.S. exchanges. To learn more, visit www.johnsonfistel.com.
Achievements
In 2024, Johnson Fistel was ranked among the Top 10 Plaintiff Law Firms by ISS Securities Class Action Services, reflecting the firm’s effectiveness in advocating for investors and recovering approximately $90,725,000 for clients in cases where it served as lead or co-lead counsel.
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Services may be performed by attorneys in any of our offices.
Johnson Fistel, PLLP has paid for the dissemination of this promotional communication, and Frank J. Johnson is the attorney responsible for its content.
Contact
Johnson Fistel, PLLP
501 W. Broadway, Suite 800
San Diego, CA 92101
James Baker, Investor Relations – or – Frank J. Johnson, Esq.
(619) 814-4471 | [email protected] | [email protected]
, /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Ryan Specialty Holdings, Inc. ("Ryan" or the "Company") (NYSE: RYAN). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Ryan and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On February 12, 2026, Ryan reported its fourth quarter and full year 2025 financial results. Among other things, the Company disclosed fourth quarter organic revenue growth of 6.6%, compared to 11.0% in the prior-year period, and adjusted EBITDAC margin of 29.6%, compared to 32.6% in the prior-year period. In addition, Ryan disclosed that it was guiding to organic revenue growth in the high single digits for 2026 and adjusted EBITDAC margin that would be flat to moderately down compared to the prior year. During the Company's earnings call, Ryan further disclosed that the fourth quarter "marked an intensification of some of these property pricing trends" and that, particularly in large accounts, the Company saw "rate decreases of 25% to 35%, which was higher than what we were seeing earlier in the year."
On this news, Ryan's stock price fell $5.67 per share, or 12.78%, to close at $38.71 per share on February 13, 2026.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
NEW YORK, May 12, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Ryan Specialty Holdings, Inc. (“Ryan” or the “Company”) (NYSE: RYAN). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Ryan and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On February 12, 2026, Ryan reported its fourth quarter and full year 2025 financial results. Among other things, the Company disclosed fourth quarter organic revenue growth of 6.6%, compared to 11.0% in the prior-year period, and adjusted EBITDAC margin of 29.6%, compared to 32.6% in the prior-year period. In addition, Ryan disclosed that it was guiding to organic revenue growth in the high single digits for 2026 and adjusted EBITDAC margin that would be flat to moderately down compared to the prior year. During the Company’s earnings call, Ryan further disclosed that the fourth quarter “marked an intensification of some of these property pricing trends” and that, particularly in large accounts, the Company saw “rate decreases of 25% to 35%, which was higher than what we were seeing earlier in the year.”
On this news, Ryan’s stock price fell $5.67 per share, or 12.78%, to close at $38.71 per share on February 13, 2026.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
, /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Ryan Specialty Holdings, Inc. ("Ryan" or the "Company") (NYSE: RYAN). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Ryan and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On February 12, 2026, Ryan reported its fourth quarter and full year 2025 financial results. Among other things, the Company disclosed fourth quarter organic revenue growth of 6.6%, compared to 11.0% in the prior-year period, and adjusted EBITDAC margin of 29.6%, compared to 32.6% in the prior-year period. In addition, Ryan disclosed that it was guiding to organic revenue growth in the high single digits for 2026 and adjusted EBITDAC margin that would be flat to moderately down compared to the prior year. During the Company's earnings call, Ryan further disclosed that the fourth quarter "marked an intensification of some of these property pricing trends" and that, particularly in large accounts, the Company saw "rate decreases of 25% to 35%, which was higher than what we were seeing earlier in the year."
On this news, Ryan's stock price fell $5.67 per share, or 12.78%, to close at $38.71 per share on February 13, 2026.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
NEW YORK, May 19, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Ryan Specialty Holdings, Inc. (“Ryan” or the “Company”) (NYSE: RYAN). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Ryan and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On February 12, 2026, Ryan reported its fourth quarter and full year 2025 financial results. Among other things, the Company disclosed fourth quarter organic revenue growth of 6.6%, compared to 11.0% in the prior-year period, and adjusted EBITDAC margin of 29.6%, compared to 32.6% in the prior-year period. In addition, Ryan disclosed that it was guiding to organic revenue growth in the high single digits for 2026 and adjusted EBITDAC margin that would be flat to moderately down compared to the prior year. During the Company’s earnings call, Ryan further disclosed that the fourth quarter “marked an intensification of some of these property pricing trends” and that, particularly in large accounts, the Company saw “rate decreases of 25% to 35%, which was higher than what we were seeing earlier in the year.”
On this news, Ryan’s stock price fell $5.67 per share, or 12.78%, to close at $38.71 per share on February 13, 2026.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
, /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Ryan Specialty Holdings, Inc. ("Ryan" or the "Company") (NYSE: RYAN). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Ryan and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On February 12, 2026, Ryan reported its fourth quarter and full year 2025 financial results. Among other things, the Company disclosed fourth quarter organic revenue growth of 6.6%, compared to 11.0% in the prior-year period, and adjusted EBITDAC margin of 29.6%, compared to 32.6% in the prior-year period. In addition, Ryan disclosed that it was guiding to organic revenue growth in the high single digits for 2026 and adjusted EBITDAC margin that would be flat to moderately down compared to the prior year. During the Company's earnings call, Ryan further disclosed that the fourth quarter "marked an intensification of some of these property pricing trends" and that, particularly in large accounts, the Company saw "rate decreases of 25% to 35%, which was higher than what we were seeing earlier in the year."
On this news, Ryan's stock price fell $5.67 per share, or 12.78%, to close at $38.71 per share on February 13, 2026.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CHICAGO--(BUSINESS WIRE)--Ryan Specialty Holdings, Inc. (NYSE: RYAN) (“Ryan Specialty”), a leading international specialty insurance services firm, today announced that its Board of Directors on May 21, 2026 increased the authorization of its existing share repurchase program for shares of the Company’s Class A common stock by $300 million.
As of May 22, 2026, the Company repurchased $260 million of Class A common stock in the second quarter, exhausting its prior authorization of $300 million. After accounting for the increased authorization, there is $300 million of authorization remaining available under the current program.
“The increased authorization of our share repurchase program reflects the Board’s ongoing confidence in our long-term strategy,” said Patrick G. Ryan, Founder and Executive Chairman of Ryan Specialty. “We remain committed to strategically investing for the long-term, organically and inorganically, while also purchasing our shares when we believe it to be the best use of our capital.”
Share repurchases may be made from time to time on the open market, in privately negotiated transactions, using Rule 10b5-1 trading plans, as accelerated share repurchases, or in any other manner that complies with the applicable securities law. The timing of purchases and number of shares repurchased under the program will depend upon a variety of factors including the Company’s stock price, trading volume, working capital or other liquidity requirements, and market conditions. The Company is not obligated to purchase any shares under the program and the program may be suspended or discontinued at any time without notice.
About Ryan Specialty
Founded in 2010, Ryan Specialty is a service provider of specialty products and solutions for insurance brokers, agents and carriers. The firm provides distribution, underwriting, product development, administration and risk management services by acting as a wholesale broker and a managing underwriter with delegated authority from insurance carriers. Ryan Specialty’s mission is to provide industry-leading innovative specialty insurance solutions for insurance brokers, agents and carriers. To learn more, please visit ryanspecialty.com.
Forward-Looking Statements
All statements in this release that are not historical are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve substantial risks and uncertainties. For example, all statements the Company makes relating to its estimated and projected costs, expenditures, cash flows, growth rates and financial results, its plans, anticipated amount and timing of cost savings relating to the restructuring plan, or its plans and objectives for future operations, growth initiatives, or strategies are forward-looking statements. Words such as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,” “should,” “can have,” “likely” and variations of such words and similar expressions are intended to identify such forward-looking statements. All forward-looking statements are subject to risks and uncertainties, known and unknown, that may cause actual results to differ materially from those that the Company expected. Specific factors that could cause such a difference include, but are not limited to, those disclosed previously in the Company’s filings with the Securities and Exchange Commission (“SEC”).
For more detail on the risk factors that may affect the Company’s results, see the section entitled “Risk Factors” in our most recent annual report on Form 10-K filed with the SEC, and in other documents filed with, or furnished to, the SEC. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Given these factors, as well as other variables that may affect the Company’s operating results, you are cautioned not to place undue reliance on these forward-looking statements, not to assume that past financial performance will be a reliable indicator of future performance, and not to use historical trends to anticipate results or trends in future periods. The forward-looking statements included in this press release relate only to events as of the date hereof. The Company does not undertake, and expressly disclaims, any duty or obligation to update publicly any forward-looking statement after the date of this release, whether as a result of new information, future events, changes in assumptions, or otherwise.
CHICAGO--(BUSINESS WIRE)--Ryan Specialty Holdings, Inc. (NYSE: RYAN) (“Ryan Specialty”), a leading international specialty insurance services firm, today announced that it will be presenting at the William Blair Growth Stock Conference on Tuesday, June 2, 2026 at 9:40 AM Eastern Time.
The presentation will be available via a link to the live stream accessible through Ryan Specialty’s website at ir.ryanspecialty.com. A replay of the presentation will be available for 90 days following the conclusion of the event.
About Ryan Specialty
Founded in 2010, Ryan Specialty is a service provider of specialty products and solutions for insurance brokers, agents and carriers. The firm provides distribution, underwriting, product development, administration and risk management services by acting as a wholesale broker and a managing underwriter with delegated authority from insurance carriers. Ryan Specialty’s mission is to provide industry-leading innovative specialty insurance solutions for insurance brokers, agents and carriers. To learn more, please visit ryanspecialty.com.
Guardian Point Capital increased its stake in Ryan Specialty Holdings (RYAN +3.41%) by 75,000 shares in the first quarter, an estimated $3.20 million trade based on quarterly average pricing, according to a May 15, 2026, SEC filing.
What happenedAccording to an SEC filing dated May 15, 2026, Guardian Point Capital added 75,000 shares of Ryan Specialty Holdings (RYAN +3.41%), bringing its total position to 575,000 shares. The estimated transaction value is approximately $3.20 million based on the mean unadjusted closing price for the quarter. The quarter-end value of the stake decreased by $6.41 million, reflecting both added shares and stock price changes.
What else to knowTop holdings after the filing:NYSE: APO: $55.71 million (23.0% of AUM)NASDAQ: GOOGL: $28.69 million (11.8% of AUM)NYSEMKT: SGOL: $26.77 million (11.0% of AUM)NASDAQ: AMZN: $26.03 million (10.7% of AUM)NYSE: ONTO: $22.56 million (9.3% of AUM)As of May 14, 2026, Ryan Specialty shares were priced at $31.20, down 55% over the past year and underperforming the S&P 500, which is up 28% in the same period.Company OverviewMetricValueRevenue (TTM)$3.16 billionNet Income (TTM)$108.69 millionDividend Yield1.6%Price (as of market close 2026-05-14)$31.20Company SnapshotRyan Specialty Holdings offers specialty insurance products and solutions, including distribution, underwriting, product development, administration, and risk management services.The firm operates as a wholesale broker and managing underwriter.It serves insurance brokers, agents, and carriers seeking specialized insurance solutions and risk management expertise.Ryan Specialty Holdings, Inc. provides specialty insurance products and services, with a focus on delivering tailored solutions to the insurance distribution market.
What this transaction means for investorsGuardian Point Capital seems to lean toward high-quality compounders and alternative asset managers, with top positions including Apollo, Alphabet, Amazon, and gold ETF SGOL.
That’s interesting given that despite the stock's rough 12 months, Ryan Specialty delivered a strong first quarter. Revenue climbed 15.2% year over year to $795.2 million, while organic revenue growth reached 11.8%. Adjusted EBITDAC increased 15.7% to $232 million, and adjusted earnings per share rose 20.5% to $0.47. The company also swung to a $40.6 million profit from a loss a year earlier.
Management acknowledged a tougher insurance market but sounded confident about continuing to gain share. Founder Patrick Ryan pointed to the firm's "diversified enterprise," while CEO Tim Turner highlighted ongoing investments in technology, AI, and data capabilities designed to strengthen its competitive position.
So far, double-digit organic growth suggests Ryan Specialty can keep winning business even as industry conditions become more challenging, and Guard Point's purchase signals it sees the recent stock weakness as an opportunity rather than a warning sign.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet and Amazon. The Motley Fool has a disclosure policy.
OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Performance Assessment (assessment) of PA-1 (Exceptional) to Ryan Specialty (Singapore) Pte. Limited (Singapore). The outlook assigned to the assessment is stable. Concurrently, AM Best has affirmed the assessment of PA-1 (Exceptional) of the eight existing affiliates of Ryan Specialty Underwriting Managers (RSUM) (Chicago, IL). The outlook of the assessment is stable.
The assessment reflects RSUM’s exceptional underwriting capabilities, exceptional governance and internal controls, excellent financial condition, exceptional organizational talent and exceptional depth and breadth of relationships.
In AM Best’s view, the nine affiliated companies, which include 40 managing general underwriters (MGUs), operate within a unified governance and systems framework and are considered strategically and financially integral to RSUM’s ability to deliver specialty insurance products in the United States and internationally.
AM Best considers RSUM’s underwriting performance to be exceptional. The delegated underwriting authority enterprise (DUAE) entities within RSUM operate one of the largest underwriting platforms in the specialty insurance market, underwriting more than 300 specialized insurance products across a broad spectrum of risk classes and geographies. Niche expertise within the MGUs is supported by centralized underwriting, actuarial and catastrophe modeling teams, enabling RSUM to effectively serve complex and underserved market segments at scale. The organization benefits from robust capital access, an extensive broker network and no channel conflict with retail brokers. RSUM’s ongoing investment in technology, data analytics and infrastructure further enhances operational efficiency and underwriting effectiveness.
RSUM’s exceptional governance and internal controls promote underwriting discipline, transparency, regulatory and contractual compliance and sustained profitability. The organization aligns incentives based on profitable underwriting performance through contingent commissions and performance-based compensation. Through Geneva Re, a strategic joint venture with Nationwide Mutual Insurance Company, Ryan Specialty Holdings, Inc. (Ryan Specialty) [NYSE: RYAN], the ultimate parent of RSUM, co-invested in reinsuring the risks its MGUs underwrite to establish ongoing strategic risk participation in its underwriting results, enhancing carrier alignment and bolstering the long-term sustainability of its programs. In 2025, Ryan Specialty further strengthened its interest alignment through its investment in Velocity Specialty Insurance Company and the launch of a collateralized reinsurance vehicle, Ryan Alternative Capital Re. RSUM continues to execute a disciplined mergers and acquisition strategy and rigorously evaluates potential acquisition targets that are a cultural fit, strategic and accretive. Utilizing a standardized integration framework, RSUM effectively integrates acquired entities into its established governance, corporate oversight, compliance and operational structures.
RSUM’s excellent financial condition is supported by a balanced growth strategy with consistently strong profitability underpinned by robust organic growth and the integration of strategic acquisitions that enhance scale, capabilities, product offerings and geographic reach. In 2025, RSUM recorded another year of strong growth in terms of gross premiums and revenue. Ryan Specialty is publicly traded, which enhances access to capital and ensures greater scrutiny through market and regulatory oversight. Ryan Specialty strategically utilizes external debt along with cash from operations to fund its acquisition-led expansion, while maintaining leverage ratios within target ranges and generating strong operating cash flows that support its debt servicing obligations and ongoing investment in growth initiatives. Ryan Specialty has established a strong track record of acquisition execution and integration, as evidenced by the organization’s successful incorporation of more than 60 acquisitions since its inception.
RSUM’s exceptional organizational talent is supported by a seasoned senior leadership team with extensive industry knowledge and specialized underwriting talent embedded across individual MGUs. The organization offers employee equity opportunities and training and development programs designed to foster long-term talent retention across all levels. Strategic acquisitions have been instrumental in strengthening RSUM’s human capital, substantially expanding the organization’s talent pool and expertise across specialized product lines and geographic markets. Merger and acquisition execution and integration are deeply ingrained in RSUM’s culture, supported by an executive team and board with significant experience in overseeing value-accretive transactions.
RSUM’s exceptional relationship network positions the organization as a valued underwriting trading partner. RSUM leverages a broad network of more than 35,000 wholesale and retail broker companies, supporting high-volume deal flow across markets. RSUM’s diverse mix of specialty products effectively meets a wide range of broker and client needs, as the organization expands its footprint domestically and internationally. RSUM maintains long-term relationships with its top capacity providers, ensuring sustained underwriting capacity, program continuity and market stability.
The assessment of PA-1 (Exceptional) has been affirmed with a stable outlook for the following affiliates of RSUM:
RSG Underwriting Managers, LLC RSG Specialty, LLC Ryan Re Underwriting Managers, LLC Freberg Environmental, LLC US Assure Insurance Services of Florida, LLC Ryan Specialty Europe GmbH Velocity Risk Underwriters Ryan Specialty Underwriting Managers International Limited AM Best has withdrawn the assessment of PA-1 (Exceptional) of the following affiliates of RSUM:
Ryan Specialty International Limited Ryan Specialty Netherlands B.V. Ryan Specialty Nordics AB As part of a legal entity restructuring, the international entity organizational structure was consolidated in 2025. Ryan Specialty Netherlands B.V. and Ryan Specialty Nordics AB were converted into branches of Ryan Specialty Europe GmbH, while Ryan Specialty International Limited will be dissolved in due course as its underlying business was transferred to the main U.K. entity, Ryan Specialty Underwriting Managers International Limited. At the time of the withdrawal, these assessments had a stable outlook. AM Best’s policy is for a final assessment opinion in conjunction with a withdrawal. However, as these entities will no longer be legal entities, a final assessment could not be produced.
This press release relates to Preliminary Credit Assessments that have been published on AM Best’s website. For all assessment information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual assessments referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating and Assessment opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
, /PRNewswire/ -- Zions Bancorporation, N.A. (Nasdaq: ZION) today announced the election of Daniel J. Ryan to its board of directors.
Mr. Ryan is a retired PwC partner and former Banking and Capital Markets Leader with more than 40 years of experience serving U.S. public banks and complex global financial institutions. He held senior leadership roles across PwC's Audit and Financial Services Consulting practices.
Over the course of his career, Ryan has advised boards of directors and senior executives on governance, risk management, regulatory engagement, financial reporting, internal controls, and technology and cybersecurity risk. He also led or participated in more than 25 board, audit committee, and risk committee effectiveness reviews for large and regional U.S. banks.
"We are pleased to welcome Daniel J. Ryan to our board of directors," said Harris H. Simmons, Zions Bancorporation's Chairman and CEO. "His deep experience in governance, risk management, financial reporting, internal controls, and technology and cybersecurity oversight will be a strong asset to our board."
"I am honored to join the board of Zions Bancorporation," said Ryan. "I look forward to supporting the company's continued focus on strong governance, sound oversight, and service to its customers and communities across the West."
Zions Bancorporation, N.A. is one of the nation's premier financial services companies with approximately $89 billion of total assets at December 31, 2025, and annual net revenue of $3.4 billion in 2025. Zions operates under local management teams and distinct brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The Bank is a consistent recipient of national and state-wide customer survey awards in small- and middle-market banking, as well as a leader in public finance advisory services and Small Business Administration lending. In addition, Zions is included in the S&P MidCap 400 and NASDAQ Financial 100 indices. Investor information and links to local banking brands can be accessed at www.zionsbancorporation.com.
LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Ryan Specialty Holdings, Inc. (“Ryan” or “the Company”) (NYSE: RYAN) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Ryan reported its Q4 and full year 2025 financial results on February 12, 2026. The Company’s organic revenue growth was sharply lower than in the prior-year period, and EBITDAC margin also fell. The Company said that the fourth quarter "marked an intensification of some of these property pricing trends" and that the Company saw "rate decreases of 25% to 35%, which was higher than what we were seeing earlier in the year." Based on this news, shares of Ryan fell by almost 12.8% on the next day.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
, /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Ryan Specialty Holdings, Inc. ("Ryan" or "the Company") (NYSE: RYAN) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Ryan reported its Q4 and full year 2025 financial results on February 12, 2026. The Company's organic revenue growth was sharply lower than in the prior-year period, and EBITDAC margin also fell. The Company said that the fourth quarter "marked an intensification of some of these property pricing trends" and that the Company saw "rate decreases of 25% to 35%, which was higher than what we were seeing earlier in the year." Based on this news, shares of Ryan fell by almost 12.8% on the next day.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
[email protected]
RYAN Investors Have Opportunity to Join Ryan Specialty Holdings, Inc. Fraud Investigation with the Schall Law Firm PR Newswire
LOS ANGELES, June 8, 2026
, /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Ryan Specialty Holdings, Inc. ("Ryan" or "the Company") (NYSE: RYAN) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Ryan reported its Q4 and full year 2025 financial results on February 12, 2026. The Company's organic revenue growth was sharply lower than in the prior-year period, and EBITDAC margin also fell. The Company said that the fourth quarter "marked an intensification of some of these property pricing trends" and that the Company saw "rate decreases of 25% to 35%, which was higher than what we were seeing earlier in the year." Based on this news, shares of Ryan fell by almost 12.8% on the next day.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335 [email protected]
www.schallfirm.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/ryan-investors-have-opportunity-to-join-ryan-specialty-holdings-inc-fraud-investigation-with-the-schall-law-firm-302793531.html
, /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Ryan Specialty Holdings, Inc. ("Ryan" or "the Company") (NYSE: RYAN) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Ryan reported its Q4 and full year 2025 financial results on February 12, 2026. The Company's organic revenue growth was sharply lower than in the prior-year period, and EBITDAC margin also fell. The Company said that the fourth quarter "marked an intensification of some of these property pricing trends" and that the Company saw "rate decreases of 25% to 35%, which was higher than what we were seeing earlier in the year." Based on this news, shares of Ryan fell by almost 12.8% on the next day.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
[email protected]
www.schallfirm.com
