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 company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $66.71, for a total value of $2,334,850.00. Following the sale, the director now owns 60,200 shares in the company, valued at approximately $4,015,942. This represents a 36.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 transaction of $2,358,650.00.

Ryan Specialty Price Performance

RYAN stock opened at $63.73 on Thursday. 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 1 year low of $41.57 and a 1 year high of $75.97. The firm has a 50-day moving average of $70.53 and a 200 day moving average of $64.71. The company has a market cap of $16.69 billion, a P/E ratio of 82.77, a PEG ratio of 1.52 and a beta of 0.67.

Ryan Specialty (NYSE:RYAN) last announced its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, hitting 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 during the quarter, compared to analyst estimates of $602.04 million. During the same quarter in the prior year, the company earned $0.32 EPS. The business’s revenue was up 20.5% compared to the same quarter last year. On average, sell-side analysts forecast that Ryan Specialty Holdings, Inc. will post 1.82 EPS for the current year.

Ryan Specialty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.69%. The ex-dividend date was Tuesday, November 12th. Ryan Specialty’s dividend payout ratio is currently 57.14%.

Institutional Trading of Ryan Specialty

Hedge funds and other institutional investors have recently modified their holdings of the business. Tidal Investments LLC grew its holdings in Ryan Specialty by 30.4% in the third quarter. Tidal Investments LLC now owns 12,255 shares of the company’s stock worth $814,000 after purchasing an additional 2,858 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Ryan Specialty in the 3rd quarter worth approximately $193,000. Sanctuary Advisors LLC grew its stake in shares of Ryan Specialty by 11.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,502 shares of the company’s stock worth $1,140,000 after buying an additional 1,651 shares during the last quarter. Virtu Financial LLC bought a new position in Ryan Specialty during the 3rd quarter valued at approximately $263,000. Finally, Teachers Retirement System of The State of Kentucky raised its stake in Ryan Specialty by 51.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 30,760 shares of the company’s stock valued at $2,042,000 after buying an additional 10,460 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.