Ryan Specialty Holdings, Inc. (NYSE:RYAN) Director Sells $2,334,850.00 in Stock

Ryan Specialty Holdings, Inc. (NYSE:RYAN) Director Nicholas Dominic Cortezi sold 35,000 shares of the business’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 directly owns 60,200 shares of the company’s stock, valued at $4,015,942. This represents a 36.76 % decrease in their position. The transaction was disclosed in a document filed 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 Price Performance

Shares of RYAN stock opened at $63.15 on Friday. The stock has a 50 day moving average price of $70.38 and a 200 day moving average price of $64.70. The firm has a market capitalization of $16.54 billion, a P/E ratio of 82.01, a P/E/G ratio of 1.52 and a beta of 0.67. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. Ryan Specialty Holdings, Inc. has a 52-week low of $41.57 and a 52-week high of $75.97.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, hitting the consensus estimate of $0.41. The business had revenue of $604.69 million during the quarter, compared to the consensus estimate of $602.04 million. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share. As a group, sell-side analysts predict that Ryan Specialty Holdings, Inc. will post 1.82 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.44 dividend on an annualized basis and a yield of 0.70%. Ryan Specialty’s dividend payout ratio is currently 57.14%.

Institutional Trading of Ryan Specialty

Institutional investors and hedge funds have recently modified their holdings of the stock. Hollencrest Capital Management bought a new position in Ryan Specialty in the third quarter worth approximately $25,000. Assetmark Inc. bought a new position in shares of Ryan Specialty during the 3rd quarter worth $34,000. Crewe Advisors LLC purchased a new position in shares of Ryan Specialty during the second quarter valued at $39,000. Quarry LP raised its holdings in shares of Ryan Specialty by 109.3% in the third quarter. Quarry LP now owns 808 shares of the company’s stock valued at $54,000 after acquiring an additional 422 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Ryan Specialty by 106.4% in the third quarter. GAMMA Investing LLC now owns 1,249 shares of the company’s stock worth $83,000 after acquiring an additional 644 shares during the period. Institutional investors own 84.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RYAN shares. Wells Fargo & Company increased their target price 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. Bank of America lifted their price objective on Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. The Goldman Sachs Group raised their target price on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Barclays increased their price objective on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, Morgan Stanley assumed coverage on shares of Ryan Specialty in a report on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $73.50.

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.