Amalgamated Bank Purchases 43,570 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Amalgamated Bank lifted its position in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 441.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,435 shares of the company’s stock after purchasing an additional 43,570 shares during the quarter. Amalgamated Bank’s holdings in Ryan Specialty were worth $3,094,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RYAN. GAMMA Investing LLC increased its stake in shares of Ryan Specialty by 96.4% during the second quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock valued at $35,000 after purchasing an additional 297 shares in the last quarter. Crewe Advisors LLC purchased a new position in Ryan Specialty during the second quarter valued at $39,000. Intelligent Financial Strategies bought a new stake in Ryan Specialty in the first quarter worth $44,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Ryan Specialty in the first quarter worth $45,000. Finally, Rothschild Investment LLC bought a new position in shares of Ryan Specialty during the second quarter valued at $87,000. 84.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 1,500 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $65.02, for a total value of $97,530.00. Following the completion of the sale, the director now owns 25,123 shares in the company, valued at approximately $1,633,497.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Nicholas Dominic Cortezi sold 1,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.02, for a total value of $97,530.00. Following the sale, the director now directly owns 25,123 shares in the company, valued at $1,633,497.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Timothy William Turner sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $62.45, for a total value of $124,900,000.00. Following the transaction, the president now owns 8,095 shares of the company’s stock, valued at approximately $505,532.75. The disclosure for this sale can be found here. Insiders have sold 2,107,136 shares of company stock worth $131,860,032 in the last three months. Company insiders own 11.10% of the company’s stock.

Ryan Specialty Trading Up 0.9 %

NYSE:RYAN opened at $64.11 on Tuesday. The firm has a market capitalization of $16.70 billion, a price-to-earnings ratio of 120.96, a price-to-earnings-growth ratio of 1.53 and a beta of 0.62. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.09 and a quick ratio of 1.09. The business has a fifty day moving average price of $63.17 and a 200-day moving average price of $57.34. Ryan Specialty Holdings, Inc. has a one year low of $41.49 and a one year high of $69.03.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. Ryan Specialty had a return on equity of 48.08% and a net margin of 10.21%. The company had revenue of $695.40 million during the quarter, compared to the consensus estimate of $695.56 million. During the same period in the previous year, the company posted $0.45 EPS. The firm’s revenue was up 18.9% on a year-over-year basis. Sell-side analysts forecast that Ryan Specialty Holdings, Inc. will post 1.81 EPS for the current year.

Ryan Specialty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a $0.11 dividend. The ex-dividend date was Tuesday, August 13th. 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 presently 83.02%.

Analyst Ratings Changes

RYAN has been the topic of a number of analyst reports. Wells Fargo & Company upped their price target on shares of Ryan Specialty from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group increased their price target on shares of Ryan Specialty from $58.00 to $64.00 and gave the company a “neutral” rating in a report on Monday, August 5th. UBS Group boosted their price objective on shares of Ryan Specialty from $67.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Barclays initiated coverage on Ryan Specialty in a research note on Wednesday, September 4th. They set an “overweight” rating and a $76.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $63.89.

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.