Bank of Montreal Can Sells 18,249 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Bank of Montreal Can lowered its position in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 30.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,493 shares of the company’s stock after selling 18,249 shares during the period. Bank of Montreal Can’s holdings in Ryan Specialty were worth $2,458,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its position 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 acquiring an additional 297 shares in the last quarter. Crewe Advisors LLC purchased a new stake in Ryan Specialty in the second quarter worth approximately $39,000. Intelligent Financial Strategies purchased a new stake in Ryan Specialty in the first quarter worth approximately $44,000. Benjamin F. Edwards & Company Inc. purchased a new stake in Ryan Specialty in the first quarter worth approximately $45,000. Finally, Rothschild Investment LLC purchased a new stake in Ryan Specialty in the second quarter worth approximately $87,000. Institutional investors own 84.82% of the company’s stock.

Ryan Specialty Trading Up 1.7 %

Shares of Ryan Specialty stock opened at $70.31 on Friday. The company has a market capitalization of $18.31 billion, a P/E ratio of 132.66, a P/E/G ratio of 1.56 and a beta of 0.62. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.09 and a current ratio of 1.09. The company has a fifty day moving average of $64.42 and a 200 day moving average of $57.94. Ryan Specialty Holdings, Inc. has a fifty-two week low of $41.49 and a fifty-two week high of $70.69.

Ryan Specialty (NYSE:RYAN) last issued its earnings results on Thursday, August 1st. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. The company had revenue of $695.40 million during the quarter, compared to the consensus estimate of $695.56 million. Ryan Specialty had a net margin of 10.21% and a return on equity of 48.08%. Ryan Specialty’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 EPS. On average, sell-side analysts anticipate that Ryan Specialty Holdings, Inc. will post 1.81 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Tuesday, August 13th. Ryan Specialty’s payout ratio is currently 83.02%.

Insiders Place Their Bets

In other Ryan Specialty news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $65.18, for a total value 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 filing with the SEC, which can be accessed through the SEC website. In other news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were 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 directly owns 24,845 shares in the company, valued at approximately $1,619,397.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Timothy William Turner sold 2,000,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the sale, the president now owns 8,095 shares in the company, valued at $505,532.75. The disclosure for this sale can be found here. Insiders have sold a total of 2,107,136 shares of company stock worth $131,860,032 in the last 90 days. 11.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RYAN. Barclays began coverage on shares of Ryan Specialty in a report on Wednesday, September 4th. They issued an “overweight” rating and a $76.00 target price on the stock. Wells Fargo & Company raised their target price on shares of Ryan Specialty from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Citigroup raised their target price on shares of Ryan Specialty from $56.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group raised their target price on shares of Ryan Specialty from $58.00 to $64.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Ryan Specialty from $54.00 to $56.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Ryan Specialty currently has an average rating of “Hold” and a consensus target price of $66.78.

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.