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 the stock in a transaction that occurred 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 $4,387,089. This represents a 34.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 shares were sold at an average price of $66.71, for a total transaction of $2,334,850.00.

Ryan Specialty Trading Down 2.7 %

RYAN opened at $63.73 on Thursday. Ryan Specialty Holdings, Inc. has a 1-year low of $41.57 and a 1-year high of $75.97. The stock has a market capitalization of $16.69 billion, a PE ratio of 82.77, a PEG ratio of 1.52 and a beta of 0.67. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. The firm has a 50-day moving average price of $70.53 and a two-hundred day moving average price of $64.71.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The business had revenue of $604.69 million for the quarter, compared to analysts’ expectations of $602.04 million. During the same period in the prior year, the firm earned $0.32 earnings per share. Ryan Specialty’s revenue was up 20.5% compared to the same quarter last year. As a group, equities analysts anticipate that Ryan Specialty Holdings, Inc. will post 1.82 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.69%. Ryan Specialty’s payout ratio is currently 57.14%.

Hedge Funds Weigh In On Ryan Specialty

Several large investors have recently made changes to their positions in the company. Hollencrest Capital Management bought a new stake in Ryan Specialty during the 3rd quarter worth about $25,000. Assetmark Inc. acquired a new stake in shares of Ryan Specialty during the 3rd quarter worth approximately $34,000. Crewe Advisors LLC bought a new stake in shares of Ryan Specialty during the second quarter worth approximately $39,000. Quarry LP lifted its holdings in Ryan Specialty by 109.3% in the third quarter. Quarry LP now owns 808 shares of the company’s stock valued at $54,000 after buying an additional 422 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Ryan Specialty by 106.4% in the third quarter. GAMMA Investing LLC now owns 1,249 shares of the company’s stock valued at $83,000 after acquiring an additional 644 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Analysts Set New Price Targets

RYAN has been the topic of a number of recent research reports. Morgan Stanley started coverage on Ryan Specialty in a report on Thursday, December 5th. They set an “overweight” rating and a $90.00 price objective on the stock. Barclays boosted their price target on Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. The Goldman Sachs Group increased their price objective on Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Bank of America boosted their target price on shares of Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company lifted their price target on shares of Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently 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.