Insider Selling: Ryan Specialty Holdings, Inc. (NYSE:RYAN) Director Sells $2,309,650.00 in Stock

Ryan Specialty Holdings, Inc. (NYSE:RYAN) Director Nicholas Dominic Cortezi sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $65.99, for a total value of $2,309,650.00. Following the completion of the sale, the director now directly owns 35,609 shares in the company, valued at approximately $2,349,837.91. The trade was a 49.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, January 13th, Nicholas Dominic Cortezi sold 29,466 shares of Ryan Specialty stock. The shares were sold at an average price of $65.06, for a total value of $1,917,057.96.
• On Friday, December 20th, Nicholas Dominic Cortezi sold 91 shares of Ryan Specialty stock. The stock was 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 transaction 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 transaction 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 value of $2,358,650.00.

Ryan Specialty Stock Performance

NYSE:RYAN opened at $66.57 on Friday. The company’s 50-day moving average is $67.95 and its two-hundred day moving average is $65.87. The firm has a market capitalization of $17.43 billion, a price-to-earnings ratio of 86.46, a PEG ratio of 1.12 and a beta of 0.72. 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 $42.21 and a 1-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 analysts’ consensus estimates of $0.41. The firm had revenue of $604.69 million for the quarter, compared to analysts’ expectations of $602.04 million. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The firm’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 earnings per share. Analysts forecast that Ryan Specialty Holdings, Inc. will post 1.82 EPS for the current year.

Ryan Specialty Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given 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 57.14%.

Institutional Trading of Ryan Specialty

Institutional investors and hedge funds have recently bought and sold shares of the stock. Xponance Inc. increased its position in shares of Ryan Specialty by 67.2% during the second quarter. Xponance Inc. now owns 20,686 shares of the company’s stock valued at $1,198,000 after acquiring an additional 8,312 shares during the last quarter. Jennison Associates LLC increased its holdings in Ryan Specialty by 60.2% in the 3rd quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock valued at $68,054,000 after purchasing an additional 385,366 shares during the last quarter. Geneva Partners LLC purchased a new stake in Ryan Specialty in the third quarter valued at approximately $2,537,000. JPMorgan Chase & Co. lifted its stake in Ryan Specialty by 107.5% during the third quarter. JPMorgan Chase & Co. now owns 459,464 shares of the company’s stock worth $30,504,000 after purchasing an additional 238,064 shares in the last quarter. Finally, Barclays PLC lifted its stake in Ryan Specialty by 1.1% during the third quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock worth $108,994,000 after purchasing an additional 17,267 shares in the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RYAN. Bank of America raised their target price on Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. BMO Capital Markets upgraded Ryan Specialty from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $65.00 to $75.00 in a report on Tuesday, September 24th. Keefe, Bruyette & Woods dropped their target price on shares of Ryan Specialty from $79.00 to $77.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Wells Fargo & Company decreased their price target on shares of Ryan Specialty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, 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 objective for the company. One equities 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $74.40.

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.