RYAN SPECIALTY HOLDINGS, INC.
RYAN · Insurance Agents, Brokers & Service · 109.9M shares · EDGAR filings ↗
Net buyback after stock comp: $9M (gross $78M, SBC $70M)
Reference price $35.77 · est. market cap ~$3.9B — last insider purchase, 2026-06-12 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B70Ryan Specialty Holdings — fast-growing specialty-insurance wholesaler/MGA.
Strengths
- Operating margin 16.5% (43rd pct), revenue +22% (67th); strong operating cash margin (65th)
- Leading wholesale-brokerage/delegated-underwriting platform
Risks
- Very high leverage (D/E 5.2, 94th); thin net margin (amortization)
- Acquisition-integration and E&S-cycle exposure
Notable findings
- High leverageHigh leverage (debt/equity 5.17)
- Weak liquidityCurrent ratio 0.98 (<1)
- Insider buyingInsider buying — 9 open-market buy(s) by 6 insider(s) (cluster of 6 insiders, ~$6M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
16.2%
Net margin
2.1%
Return on equity
9.8%
Return on assets
0.6%
ROIC
9.8%
Revenue growth (QoQ)
5.9%
Net-income growth
-33.0%
Debt / equity
5.2×
Current ratio
1.0×
Tangible book value
-$2.7B
Cash & investments
$158M
Stock comp / revenue
2.3%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-12 | Kuczinski Anthony J | Buy | 500 | $35.77 |
| 2026-06-11 | Kuczinski Anthony J | Buy | 2.5K | $34.83 |
| 2026-06-10 | ROGERS JOHN W JR | Buy | 7.5K | $35.16 |
| 2026-06-05 | RYAN PATRICK G | Buy | 120K | $32.50 |
| 2026-06-03 | KATZ MARK STEPHEN | Buy | 3.2K | $31.07 |
| 2026-06-03 | Hamilton Janice M | Buy | 6.3K | $31.79 |
| 2026-05-29 | Bienen Henry S | Gift | 2.7K | — |
| 2026-05-28 | Bienen Henry S | Gift | 5.8K | — |
| 2026-05-28 | Bienen Henry S | Gift | 5.8K | — |
| 2026-04-28 | ROGERS JOHN W JR | Grant | 5.8K | — |
| 2026-04-28 | CORTEZI NICHOLAS DOMINIC | Grant | 5.8K | — |
| 2026-04-28 | Kuczinski Anthony J | Grant | 5.8K | — |
| 2026-04-28 | Cornelli Francesca | Grant | 5.8K | — |
| 2026-04-28 | Bienen Henry S | Grant | 5.8K | — |
| 2026-04-28 | BUNGERT MICHAEL G | Grant | 4.6K | — |
| 2026-04-28 | BOLGER DAVID P | Grant | 5.8K | — |
| 2026-04-28 | RYAN PATRICK G JR | Grant | 5.8K | — |
| 2026-04-28 | COLLINS MICHELLE L | Grant | 5.8K | — |
| 2026-04-28 | OHALLERAN MICHAEL D | Grant | 5.8K | — |
| 2026-04-01 | Conklin Michael | Option exercise | 7.6K | — |
| 2026-04-01 | Conklin Michael | Tax withheld | 2.2K | $33.74 |
| 2026-02-23 | RYAN PATRICK G JR | Buy | 24K | $39.94 |
| 2026-02-23 | RYAN PATRICK G JR | Buy | 1.5K | $40.20 |
| 2026-02-20 | RYAN PATRICK G JR | Buy | 365 | $41.41 |
| 2025-12-12 | TURNER TIMOTHY WILLIAM | Sell | 130K | $53.61 |
| 2025-12-11 | TURNER TIMOTHY WILLIAM | Option exercise | 130K | — |
| 2025-12-10 | RYAN PATRICK G JR | Gift | 2.1K | — |
| 2025-12-10 | RYAN PATRICK G | Gift | 2.1K | — |
| 2025-12-05 | ONEX CORP | Sell | 4.1M | $54.50 |
| 2025-09-12 | RYAN PATRICK G | Buy | 277K | $51.84 |
| 2025-09-02 | RYAN PATRICK G JR | Buy | 100 | $55.54 |
| 2025-08-26 | RYAN PATRICK G JR | L | 5 | $57.99 |
| 2025-07-22 | Hamilton Janice M | Option exercise | 5.8K | — |
| 2025-07-22 | Hamilton Janice M | Tax withheld | 2.3K | $65.27 |
| 2025-06-13 | Bienen Henry S | Gift | 900 | — |
| 2025-06-13 | KATZ MARK STEPHEN | Option exercise | 14K | — |
| 2025-06-13 | KATZ MARK STEPHEN | Sell | 14K | $65.84 |
| 2025-06-12 | Bienen Henry S | Gift | 2.3K | — |
| 2025-06-12 | Bienen Henry S | Gift | 1.2K | — |
| 2025-06-12 | Bienen Henry S | Gift | 1.2K | — |
| 2025-06-03 | BOLGER DAVID P | Gift | 5.0K | — |
| 2025-06-03 | BOLGER DAVID P | Sell | 5.0K | $70.80 |
| 2025-05-30 | BOLGER DAVID P | Grant | 2.3K | — |
| 2025-05-30 | RYAN PATRICK G JR | Grant | 2.3K | — |
| 2025-05-30 | ROGERS JOHN W JR | Grant | 2.3K | — |
| 2025-05-30 | OHALLERAN MICHAEL D | Grant | 2.3K | — |
| 2025-05-30 | Kuczinski Anthony J | Grant | 2.3K | — |
| 2025-05-30 | FINDLAY D CAMERON | Grant | 2.3K | — |
| 2025-05-30 | CORTEZI NICHOLAS DOMINIC | Grant | 2.3K | — |
| 2025-05-30 | Cornelli Francesca | Grant | 2.3K | — |
| 2025-05-30 | COLLINS MICHELLE L | Grant | 2.3K | — |
| 2025-05-30 | Bienen Henry S | Grant | 2.3K | — |
| 2025-05-27 | RYAN PATRICK G JR | L | 4 | $68.82 |
| 2025-05-16 | BICKHAM JEREMIAH RAWLINS | Sell | 50K | $70.09 |
| 2025-05-13 | BICKHAM JEREMIAH RAWLINS | Conversion | 50K | — |
| 2025-05-13 | BICKHAM JEREMIAH RAWLINS | Conversion | 50K | — |
| 2025-05-12 | Kuczinski Anthony J | Buy | 300 | $70.37 |
| 2025-05-09 | RYAN PATRICK G | Gift | 1.4K | — |
| 2025-04-01 | BICKHAM JEREMIAH RAWLINS | Tax withheld | 750 | $73.87 |
| 2025-04-01 | Hamilton Janice M | Option exercise | 458 | — |
| 2025-04-01 | TURNER TIMOTHY WILLIAM | Option exercise | 7.0K | — |
| 2025-04-01 | TURNER TIMOTHY WILLIAM | Tax withheld | 2.9K | $73.87 |
| 2025-04-01 | Wuller Benjamin MIles | Option exercise | 2.7K | — |
| 2025-04-01 | Wuller Benjamin MIles | Tax withheld | 1.2K | $73.87 |
| 2025-04-01 | BICKHAM JEREMIAH RAWLINS | Option exercise | 1.8K | — |
| 2025-04-01 | Hamilton Janice M | Tax withheld | 135 | $73.87 |
| 2025-04-01 | MULSHINE BRENDAN MARTIN | Option exercise | 1.2K | — |
| 2025-04-01 | MULSHINE BRENDAN MARTIN | Tax withheld | 452 | $73.87 |
| 2025-04-01 | KATZ MARK STEPHEN | Option exercise | 1.8K | — |
| 2025-04-01 | KATZ MARK STEPHEN | Tax withheld | 638 | $73.87 |
| 2025-04-01 | Conklin Michael | Buy | 7.6K | — |
| 2025-04-01 | Conklin Michael | Tax withheld | 2.9K | $73.87 |
| 2025-03-18 | RYAN PATRICK G JR | L | 4 | $71.35 |
| 2025-03-14 | MULSHINE BRENDAN MARTIN | Conversion | 30K | — |
| 2025-03-14 | MULSHINE BRENDAN MARTIN | Conversion | 30K | — |
| 2025-03-14 | MULSHINE BRENDAN MARTIN | Sell | 16K | $69.05 |
| 2025-03-14 | MULSHINE BRENDAN MARTIN | Sell | 14K | $69.59 |
| 2025-03-10 | RYAN PATRICK G JR | Buy | 75 | $69.50 |
| 2025-01-30 | CORTEZI NICHOLAS DOMINIC | Sell | 8.5K | $66.33 |
| 2025-01-29 | CORTEZI NICHOLAS DOMINIC | Sell | 30K | $65.67 |
| 2025-01-29 | CORTEZI NICHOLAS DOMINIC | Sell | 40 | $66.04 |
| 2025-01-29 | CORTEZI NICHOLAS DOMINIC | Sell | 1.3K | $65.01 |
| 2025-01-28 | CORTEZI NICHOLAS DOMINIC | Sell | 30K | $65.08 |
| 2025-01-28 | CORTEZI NICHOLAS DOMINIC | Sell | 4.9K | $65.03 |
| 2025-01-27 | CORTEZI NICHOLAS DOMINIC | Sell | 4.9K | $65.02 |
| 2025-01-27 | CORTEZI NICHOLAS DOMINIC | Sell | 30K | $65.29 |
| 2025-01-23 | CORTEZI NICHOLAS DOMINIC | Sell | 4.9K | $65.13 |
| 2025-01-23 | CORTEZI NICHOLAS DOMINIC | Sell | 5.6K | $65.11 |
| 2025-01-22 | CORTEZI NICHOLAS DOMINIC | Sell | 4.9K | $65.84 |
| 2025-01-22 | CORTEZI NICHOLAS DOMINIC | Sell | 21K | $66.01 |
| 2025-01-22 | CORTEZI NICHOLAS DOMINIC | Sell | 8.8K | $66.45 |
| 2025-01-21 | CORTEZI NICHOLAS DOMINIC | Sell | 4.9K | $66.93 |
| 2025-01-21 | CORTEZI NICHOLAS DOMINIC | Sell | 22K | $66.02 |
| 2025-01-21 | CORTEZI NICHOLAS DOMINIC | Sell | 8.2K | $66.88 |
| 2025-01-17 | CORTEZI NICHOLAS DOMINIC | Sell | 30K | $67.17 |
| 2025-01-17 | CORTEZI NICHOLAS DOMINIC | Sell | 4.9K | $67.01 |
| 2025-01-16 | CORTEZI NICHOLAS DOMINIC | Sell | 4.9K | $66.44 |
| 2025-01-16 | CORTEZI NICHOLAS DOMINIC | Sell | 23K | $66.80 |
| 2025-01-16 | CORTEZI NICHOLAS DOMINIC | Sell | 6.6K | $67.10 |
| 2025-01-15 | CORTEZI NICHOLAS DOMINIC | Sell | 4.9K | $66.26 |
| 2025-01-15 | CORTEZI NICHOLAS DOMINIC | Sell | 30K | $65.94 |
| 2025-01-14 | CORTEZI NICHOLAS DOMINIC | Sell | 30K | $65.43 |
| 2025-01-14 | CORTEZI NICHOLAS DOMINIC | Sell | 4.9K | $65.15 |
| 2025-01-13 | CORTEZI NICHOLAS DOMINIC | Sell | 25K | $65.06 |
| 2025-01-13 | CORTEZI NICHOLAS DOMINIC | Sell | 4.9K | $65.05 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-26 | Reg FD | filing ↗ |
| 2026-05-01 | Shareholder vote | filing ↗ |
| 2026-04-30 | ResultsOtherExhibits | filing ↗ |
| 2026-04-30 | Material agreementExhibits | filing ↗ |
| 2026-02-12 | Results2.05Reg FDOtherExhibits | filing ↗ |
| 2026-02-12 | 5.08Other | filing ↗ |
| 2025-12-08 | Exec/director changeReg FDExhibits | filing ↗ |
| 2025-10-30 | ResultsOtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-26 | 2026-05-26 | 0001849253-26-000031 ↗ |
| 10-Q | 2026-05-01 | 2026-03-31 | 0001849253-26-000026 ↗ |
| 8-K | 2026-05-01 | 2026-04-28 | 0001849253-26-000029 ↗ |
| 8-K | 2026-04-30 | 2026-04-30 | 0001849253-26-000022 ↗ |
| 8-K | 2026-04-30 | 2026-04-30 | 0001849253-26-000023 ↗ |
| 10-K | 2026-02-13 | 2025-12-31 | 0001849253-26-000006 ↗ |
| 8-K | 2026-02-12 | 2026-02-10 | 0001628280-26-007479 ↗ |
| 8-K | 2026-02-12 | 2026-02-10 | 0001849253-26-000004 ↗ |
| 8-K | 2025-12-08 | 2025-12-05 | 0001849253-25-000018 ↗ |
| 10-Q | 2025-10-31 | 2025-09-30 | 0001849253-25-000016 ↗ |
| 8-K | 2025-10-30 | 2025-10-30 | 0001849253-25-000013 ↗ |
| 8-K | 2025-10-08 | 2025-10-02 | 0001849253-25-000008 ↗ |