Insider Selling: Ryan Specialty Holdings, Inc. (NYSE:RYAN) Director Sells 35,000 Shares of Stock

Ryan Specialty Holdings, Inc. (NYSE:RYAN) Director Nicholas Dominic Cortezi sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $65.17, for a total transaction of $2,280,950.00. Following the transaction, the director now directly owns 50,400 shares in the company, valued at $3,284,568. The trade was a 40.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, December 20th, Nicholas Dominic Cortezi sold 91 shares of Ryan Specialty stock. The stock was sold at an average price of $65.00, for a total value of $5,915.00.
• 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.
• On Friday, December 13th, Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock. The stock was sold at an average price of $67.39, for a total value of $2,358,650.00.

Ryan Specialty Stock Performance

NYSE:RYAN opened at $63.89 on Tuesday. The firm has a market cap of $16.73 billion, a PE ratio of 82.97, a price-to-earnings-growth ratio of 1.52 and a beta of 0.67. Ryan Specialty Holdings, Inc. has a fifty-two week low of $41.65 and a fifty-two week high of $75.97. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. The business has a 50 day moving average price of $70.23 and a 200-day moving average price of $64.86.

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

Ryan Specialty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued 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 dividend payout ratio (DPR) is 57.14%.

Analysts Set New Price Targets

Several research firms have recently issued reports on RYAN. Wells Fargo & Company boosted their price target on shares of Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Morgan Stanley started coverage on Ryan Specialty in a report on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price target for the company. Barclays upped their price target on Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. BMO Capital Markets upgraded shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $65.00 to $75.00 in a research report on Tuesday, September 24th. Finally, Bank of America increased their price objective on Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $73.50.

Hedge Funds Weigh In On Ryan Specialty

Institutional investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management bought a new position in shares of Ryan Specialty during the third quarter valued at approximately $25,000. Assetmark Inc. bought a new position in shares of Ryan Specialty in the third quarter worth approximately $34,000. Crewe Advisors LLC purchased a new stake in shares of Ryan Specialty during the second quarter valued at approximately $39,000. Quarry LP increased its position in shares of Ryan Specialty by 109.3% during the third quarter. Quarry LP now owns 808 shares of the company’s stock valued at $54,000 after acquiring an additional 422 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Ryan Specialty by 106.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,249 shares of the company’s stock worth $83,000 after acquiring an additional 644 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.

About Ryan Specialty

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.