Ryan Specialty Holdings, Inc. (NYSE:RYAN) Director Nicholas Dominic Cortezi Sells 35,000 Shares of Stock

Ryan Specialty Holdings, Inc. (NYSE:RYAN) Director Nicholas Dominic Cortezi sold 35,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $66.71, for a total transaction of $2,334,850.00. Following the transaction, the director now owns 60,200 shares in the company, valued at $4,015,942. This represents a 36.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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 Trading Down 1.5 %

Shares of RYAN stock opened at $65.44 on Wednesday. The firm has a market capitalization of $17.13 billion, a P/E ratio of 84.99, a price-to-earnings-growth ratio of 1.52 and a beta of 0.67. Ryan Specialty Holdings, Inc. has a 1 year low of $41.57 and a 1 year high of $75.97. The firm’s fifty day simple moving average is $70.69 and its 200 day simple moving average is $64.71. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings data 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 net margin of 10.31% and a return on equity of 47.90%. The company had revenue of $604.69 million for the quarter, compared to the consensus estimate of $602.04 million. During the same quarter in the previous year, the firm posted $0.32 EPS. The business’s revenue was up 20.5% compared to the same quarter last year. As a group, sell-side analysts predict that Ryan Specialty Holdings, Inc. will post 1.82 EPS for the current year.

Ryan Specialty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.44 annualized dividend and a yield of 0.67%. Ryan Specialty’s dividend payout ratio (DPR) is 57.14%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RYAN. Wells Fargo & Company boosted their price target on Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Barclays boosted their target price on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Morgan Stanley started coverage on Ryan Specialty in a report on Thursday, December 5th. They set an “overweight” rating and a $90.00 price target on the stock. The Goldman Sachs Group boosted their price objective on shares of Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets upgraded shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and raised their target price for the company from $65.00 to $75.00 in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $73.50.

Institutional Trading of Ryan Specialty

A number of hedge funds have recently modified their holdings of the company. Louisiana State Employees Retirement System bought a new position in Ryan Specialty in the second quarter worth $1,668,000. Retirement Systems of Alabama acquired a new stake in shares of Ryan Specialty during the 2nd quarter valued at about $7,316,000. 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 acquiring an additional 476,126 shares during the period. State of Michigan Retirement System bought a new stake in Ryan Specialty in the second quarter valued at about $1,621,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Ryan Specialty by 14.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,069 shares of the company’s stock worth $1,336,000 after purchasing an additional 2,909 shares in the last quarter. Institutional investors own 84.82% of the company’s stock.

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.