Ryan Specialty Holdings, Inc. (NYSE:RYAN) Director Sells $2,358,650.00 in Stock

Ryan Specialty Holdings, Inc. (NYSE:RYAN) Director Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock in a transaction on Friday, December 13th. The shares were sold at an average price of $67.39, for a total value of $2,358,650.00. Following the completion of the sale, the director now directly owns 65,100 shares of the company’s stock, valued at approximately $4,387,089. This represents a 34.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Nicholas Dominic Cortezi also recently made the following trade(s):

• On Monday, December 16th, Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock. The stock was sold at an average price of $66.71, for a total value of $2,334,850.00.

Ryan Specialty Stock Down 1.5 %

Shares of RYAN traded down $1.01 during mid-day trading on Tuesday, reaching $65.44. 838,724 shares of the stock traded hands, compared to its average volume of 867,305. The firm has a market cap of $17.13 billion, a price-to-earnings ratio of 86.30, a P/E/G ratio of 1.52 and a beta of 0.67. The stock has a fifty day simple moving average of $70.80 and a 200 day simple moving average of $64.64. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. Ryan Specialty Holdings, Inc. has a 12-month low of $41.57 and a 12-month high of $75.97.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, hitting analysts’ consensus estimates of $0.41. The firm had revenue of $604.69 million for the quarter, compared to analyst estimates of $602.04 million. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The firm’s revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 EPS. Sell-side analysts expect that Ryan Specialty Holdings, Inc. will post 1.82 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.11 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.44 dividend on an annualized basis and a yield of 0.67%. Ryan Specialty’s dividend payout ratio (DPR) is presently 57.14%.

Institutional Trading of Ryan Specialty

Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in Ryan Specialty by 1.5% during the 3rd quarter. State Street Corp now owns 3,273,093 shares of the company’s stock worth $217,301,000 after buying an additional 49,198 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Ryan Specialty by 0.4% during the third quarter. Janus Henderson Group PLC now owns 3,148,916 shares of the company’s stock worth $209,058,000 after purchasing an additional 13,986 shares during the last quarter. Blair William & Co. IL boosted its holdings in Ryan Specialty by 3.4% in the second quarter. Blair William & Co. IL now owns 2,866,003 shares of the company’s stock worth $165,970,000 after purchasing an additional 94,663 shares during the period. Barclays PLC increased its stake in Ryan Specialty by 1.1% during the third quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock valued at $108,994,000 after purchasing an additional 17,267 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in shares of Ryan Specialty by 32.1% during the third quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company’s stock worth $98,555,000 after purchasing an additional 335,180 shares during the period. 84.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. BMO Capital Markets raised shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $65.00 to $75.00 in a research note on Tuesday, September 24th. The Goldman Sachs Group upped their price objective on Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Barclays lifted their target price on Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Bank of America raised their price objective on Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Morgan Stanley began coverage on shares of Ryan Specialty in a research report on Thursday, December 5th. They set an “overweight” rating and a $90.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Ryan Specialty has an average rating of “Hold” and a consensus target price of $73.50.

Ryan Specialty Company Profile

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.