Wallace Advisory Group LLC Lowers Stock Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Wallace Advisory Group LLC decreased its holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 20.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,777 shares of the company’s stock after selling 2,249 shares during the quarter. Wallace Advisory Group LLC’s holdings in Ryan Specialty were worth $508,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RYAN. GAMMA Investing LLC raised its holdings in shares of Ryan Specialty by 96.4% in the second quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock valued at $35,000 after buying an additional 297 shares during the last quarter. Arizona State Retirement System increased its position in Ryan Specialty by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 28,246 shares of the company’s stock valued at $1,636,000 after acquiring an additional 611 shares during the period. Precision Wealth Strategies LLC raised its stake in Ryan Specialty by 4.1% during the 1st quarter. Precision Wealth Strategies LLC now owns 15,774 shares of the company’s stock valued at $875,000 after acquiring an additional 617 shares during the last quarter. Anderson Hoagland & Co. lifted its position in Ryan Specialty by 1.2% during the 2nd quarter. Anderson Hoagland & Co. now owns 51,615 shares of the company’s stock worth $2,909,000 after acquiring an additional 624 shares during the period. Finally, Crewe Advisors LLC purchased a new position in shares of Ryan Specialty in the 2nd quarter valued at approximately $39,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Citigroup upped their price target on Ryan Specialty from $56.00 to $62.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. UBS Group upped their price objective on shares of Ryan Specialty from $67.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Wells Fargo & Company lifted their target price on shares of Ryan Specialty from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their price target on shares of Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Finally, BMO Capital Markets raised Ryan Specialty from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $65.00 to $75.00 in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $66.78.

Insider Buying and Selling at Ryan Specialty

In other news, Director Nicholas Dominic Cortezi sold 5,375 shares of Ryan Specialty stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $64.73, for a total transaction of $347,923.75. Following the completion of the transaction, the director now owns 2,685 shares of the company’s stock, valued at approximately $173,800.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Ryan Specialty news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $65.18, for a total transaction of $1,709,866.94. Following the sale, the executive vice president now owns 24,845 shares in the company, valued at approximately $1,619,397.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nicholas Dominic Cortezi sold 5,375 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $64.73, for a total value of $347,923.75. Following the transaction, the director now directly owns 2,685 shares of the company’s stock, valued at approximately $173,800.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,107,136 shares of company stock valued at $131,860,032. Insiders own 11.10% of the company’s stock.

Ryan Specialty Stock Down 0.3 %

RYAN stock opened at $66.00 on Monday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.81. The company’s 50-day moving average price is $63.85 and its 200 day moving average price is $57.69. Ryan Specialty Holdings, Inc. has a 52 week low of $41.49 and a 52 week high of $69.03. The company has a market cap of $17.19 billion, a P/E ratio of 124.53, a P/E/G ratio of 1.60 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. The business had revenue of $695.40 million for the quarter, compared to analyst estimates of $695.56 million. Ryan Specialty had a return on equity of 48.08% and a net margin of 10.21%. The company’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.45 EPS. On average, research analysts expect that Ryan Specialty Holdings, Inc. will post 1.81 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, August 27th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.44 dividend on an annualized basis and a yield of 0.67%. Ryan Specialty’s payout ratio is 83.02%.

Ryan Specialty 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.