Ryan Specialty Holdings, Inc. (NYSE:RYAN) Director Nicholas Dominic Cortezi Sells 29,466 Shares of Stock

Ryan Specialty Holdings, Inc. (NYSE:RYAN) Director Nicholas Dominic Cortezi sold 29,466 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $65.06, for a total value of $1,917,057.96. Following the completion of the sale, the director now directly owns 45,409 shares of the company’s stock, valued at $2,954,309.54. The trade was a 39.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Wednesday, January 15th, Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock. The shares were sold at an average price of $65.99, for a total transaction of $2,309,650.00.
• On Friday, December 20th, Nicholas Dominic Cortezi sold 91 shares of Ryan Specialty stock. The shares were sold at an average price of $65.00, for a total transaction of $5,915.00.
• On Wednesday, December 18th, Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock. The shares were sold at an average price of $65.17, for a total value of $2,280,950.00.
• On Monday, December 16th, Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock. The stock was sold at an average price of $66.71, for a total value of $2,334,850.00.
• 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 Stock Performance

Shares of RYAN opened at $66.20 on Thursday. Ryan Specialty Holdings, Inc. has a 12-month low of $42.21 and a 12-month high of $75.97. The stock has a market cap of $17.33 billion, a P/E ratio of 85.97, a PEG ratio of 1.12 and a beta of 0.72. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. The company has a 50-day moving average of $68.19 and a two-hundred day moving average of $65.80.

Ryan Specialty (NYSE:RYAN) last posted its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.41. The firm had revenue of $604.69 million for the quarter, compared to analyst estimates of $602.04 million. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. Ryan Specialty’s revenue was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. As a group, research analysts predict that Ryan Specialty Holdings, Inc. will post 1.82 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Tuesday, November 12th. Ryan Specialty’s payout ratio is currently 57.14%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Ryan Specialty by 1.5% during the 3rd quarter. State Street Corp now owns 3,273,093 shares of the company’s stock worth $217,301,000 after purchasing an additional 49,198 shares during the last quarter. Janus Henderson Group PLC boosted its position in Ryan Specialty by 0.4% during the third quarter. Janus Henderson Group PLC now owns 3,148,916 shares of the company’s stock worth $209,058,000 after acquiring an additional 13,986 shares during the last quarter. Blair William & Co. IL boosted its position in Ryan Specialty by 3.4% during the second quarter. Blair William & Co. IL now owns 2,866,003 shares of the company’s stock worth $165,970,000 after acquiring an additional 94,663 shares during the last quarter. Barclays PLC grew its stake in Ryan Specialty by 1.1% in the 3rd quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock worth $108,994,000 after acquiring an additional 17,267 shares during the period. Finally, Eagle Asset Management Inc. raised its holdings in Ryan Specialty by 32.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company’s stock valued at $98,555,000 after acquiring an additional 335,180 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. BMO Capital Markets raised 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 report on Tuesday, September 24th. The Goldman Sachs Group raised their target price on Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Morgan Stanley started coverage on shares of Ryan Specialty in a research note on Thursday, December 5th. They set an “overweight” rating and a $90.00 price target on the stock. Barclays raised their price objective on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Ryan Specialty from $79.00 to $77.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Ryan Specialty currently has a consensus rating of “Hold” and a consensus target price of $74.40.

About Ryan Specialty

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.