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In a remarkable display of market confidence, Ryan Specialty Group Holdings Inc. (RYAN) stock soared to an all-time high, reaching a price level of $75.87. The company, now valued at nearly $20 billion, maintains a "GREAT" financial health score according to InvestingPro analysis. This peak comes amidst a year of significant growth for the company, with the stock witnessing an impressive 1-year change of 65.96%. Trading at a P/E ratio of 88, the stock appears to be fully valued based on InvestingPro's Fair Value assessment. Investors have shown increasing enthusiasm for RYAN's business model and growth prospects, propelling the stock to new heights and setting a robust benchmark for its future performance. For deeper insights into RYAN's valuation and growth potential, access the comprehensive Pro Research Report, available exclusively with an InvestingPro subscription.
In other recent news, Ryan Specialty Holdings reported a significant increase in its third-quarter revenue and earnings, with a 20.5% rise in total revenue to $605 million. The firm's organic growth accounted for 11.8% of this increase. Adjusted earnings before interest, taxes, depreciation, amortization, and changes in acquisition costs (EBITDAC) grew by 29.4% to $190 million, while adjusted diluted earnings per share (EPS) rose by 28% to $0.41. These developments reinforce the company's strategic acquisitions and commitment to organic growth.
Recent acquisitions, such as US Assure and Innovisk, played a significant role in the company's robust performance. In addition, Ryan Specialty aims to maintain an organic revenue growth guidance of 13.0% to 14.0% for 2024. Despite facing rate declines in the property market, the company managed to gain market share in the sector.
Looking ahead, analysts anticipate that positive dynamics in casualty markets, particularly in high-hazard verticals, will drive growth. The company's ACCELERATE 2025 program is also on track to achieve $60 million in annual savings by 2025. These are recent developments that continue to shape Ryan Specialty's trajectory in the specialty insurance sector.
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