Ryan Specialty Holdings, Inc. (NYSE:RYAN) Shares Sold by Mechanics Bank Trust Department

Mechanics Bank Trust Department lessened its position in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 10.0% in the 3rd quarter, Holdings Channel reports. The fund owned 5,839 shares of the company’s stock after selling 651 shares during the period. Mechanics Bank Trust Department’s holdings in Ryan Specialty were worth $388,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capstone Investment Advisors LLC acquired a new stake in shares of Ryan Specialty in the first quarter valued at about $727,000. Securian Asset Management Inc. purchased a new stake in shares of Ryan Specialty during the 2nd quarter worth approximately $474,000. Embree Financial Group acquired a new stake in shares of Ryan Specialty in the 1st quarter worth approximately $1,701,000. Geneva Capital Management LLC increased its stake in Ryan Specialty by 12.0% in the 1st quarter. Geneva Capital Management LLC now owns 475,552 shares of the company’s stock valued at $26,393,000 after purchasing an additional 50,947 shares in the last quarter. Finally, Xponance Inc. raised its holdings in Ryan Specialty by 67.2% during the second quarter. Xponance Inc. now owns 20,686 shares of the company’s stock worth $1,198,000 after purchasing an additional 8,312 shares during the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Insider Buying and Selling

In other Ryan Specialty news, President Timothy William Turner sold 2,000,000 shares of Ryan Specialty stock in a transaction on Friday, August 9th. The shares were sold at an average price of $62.45, for a total value of $124,900,000.00. Following the transaction, the president now owns 8,095 shares in the company, valued at $505,532.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Nicholas Dominic Cortezi sold 2,325 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $64.60, for a total value of $150,195.00. Following the transaction, the director now owns 3,463 shares in the company, valued at approximately $223,709.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Timothy William Turner sold 2,000,000 shares of Ryan Specialty stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the transaction, the president now directly owns 8,095 shares in the company, valued at approximately $505,532.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,107,136 shares of company stock valued at $131,860,032. Insiders own 11.10% of the company’s stock.

Ryan Specialty Trading Up 1.9 %

Shares of Ryan Specialty stock opened at $71.76 on Monday. The firm has a market cap of $18.76 billion, a PE ratio of 112.13, a P/E/G ratio of 1.66 and a beta of 0.62. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.81. Ryan Specialty Holdings, Inc. has a fifty-two week low of $41.49 and a fifty-two week high of $72.97. The business’s fifty day moving average is $65.68 and its two-hundred day moving average is $58.71.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Thursday, August 1st. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. The firm had revenue of $695.40 million for the quarter, compared to the consensus estimate of $695.56 million. Ryan Specialty had a return on equity of 48.08% and a net margin of 10.21%. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.45 earnings per share. Analysts anticipate that Ryan Specialty Holdings, Inc. will post 1.81 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.44 dividend on an annualized basis and a yield of 0.61%. Ryan Specialty’s payout ratio is 68.75%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RYAN. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $62.00 price target on shares of Ryan Specialty in a research report on Tuesday, July 2nd. Bank of America raised their target price on shares of Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company upped their price target on shares of Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday. Barclays initiated coverage on shares of Ryan Specialty in a research note on Wednesday, September 4th. They set an “overweight” rating and a $76.00 price objective for the company. Finally, The Goldman Sachs Group upped their target price on Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, Ryan Specialty presently has a consensus rating of “Hold” and an average price target of $70.33.

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.