Ryan Specialty Group Holdings, Inc. (RYAN) stock plummeted 6.56% on Friday in the intraday trading session, underperforming the broader market. The selloff came despite the specialty insurance firm reporting better-than-expected fourth-quarter results late on Thursday.

For the quarter ended December 31, 2024, Ryan Specialty posted adjusted earnings per share of $0.45, meeting analysts' consensus estimates. Revenue grew an impressive 24.5% year-over-year to $663.53 million, surpassing expectations of $658.65 million.

While the company's Q4 performance was solid, the stock's decline likely reflects profit-taking by some investors after the strong run-up in the quarter leading up to the earnings release. Ryan Specialty shares had risen by 8.1% in the fourth quarter, outperforming the broader market.