Bank of Montreal Can Sells 5,575 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Bank of Montreal Can trimmed its position in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 13.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,918 shares of the company’s stock after selling 5,575 shares during the quarter. Bank of Montreal Can’s holdings in Ryan Specialty were worth $2,371,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of Ryan Specialty by 148.9% in the 3rd quarter. Principal Financial Group Inc. now owns 851,704 shares of the company’s stock valued at $56,545,000 after acquiring an additional 509,548 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Ryan Specialty by 132.2% in the second quarter. Bank of New York Mellon Corp now owns 836,209 shares of the company’s stock valued at $48,425,000 after purchasing an additional 476,126 shares in the last quarter. Jennison Associates LLC raised its holdings in Ryan Specialty by 60.2% in the third quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock worth $68,054,000 after purchasing an additional 385,366 shares during the period. Eagle Asset Management Inc. boosted its position in shares of Ryan Specialty by 32.1% during the third quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company’s stock worth $98,555,000 after purchasing an additional 335,180 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Ryan Specialty by 43.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 938,187 shares of the company’s stock valued at $62,286,000 after buying an additional 286,380 shares during the period. 84.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Ryan Specialty news, EVP Mark Stephen Katz sold 14,790 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the completion of the sale, the executive vice president now directly owns 12,386 shares in the company, valued at $884,236.54. This trade represents a 54.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David P. Bolger sold 7,055 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $70.88, for a total value of $500,058.40. Following the completion of the transaction, the director now directly owns 78,149 shares in the company, valued at $5,539,201.12. The trade was a 8.28 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 11.10% of the company’s stock.

Ryan Specialty Trading Down 1.4 %

Ryan Specialty stock opened at $73.42 on Friday. The company has a market cap of $19.22 billion, a price-to-earnings ratio of 95.35, a P/E/G ratio of 1.68 and a beta of 0.67. The firm has a 50-day moving average of $70.71 and a 200-day moving average of $63.77. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. Ryan Specialty Holdings, Inc. has a one year low of $41.49 and a one year high of $75.97.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 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 company had revenue of $604.69 million during the quarter, compared to the consensus estimate of $602.04 million. During the same quarter in the prior year, the firm posted $0.32 EPS. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. On average, equities analysts expect that Ryan Specialty Holdings, Inc. will post 1.8 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Tuesday, November 12th. Ryan Specialty’s payout ratio is currently 57.14%.

Analysts Set New Price Targets

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

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.