Insider Selling: Ryan Specialty Holdings, Inc. (NYSE:RYAN) Director 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 that occurred on Wednesday, December 18th. The shares were sold at an average price of $65.17, for a total transaction of $2,280,950.00. Following the completion of the sale, the director now owns 50,400 shares in the company, valued at approximately $3,284,568. The trade was a 40.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• 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 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 shares were sold at an average price of $67.39, for a total value of $2,358,650.00.

Ryan Specialty Stock Performance

Shares of RYAN opened at $64.49 on Wednesday. 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 firm’s fifty day simple moving average is $69.92 and its two-hundred day simple moving average is $65.00. Ryan Specialty Holdings, Inc. has a 12 month low of $41.65 and a 12 month high of $75.97. The stock has a market capitalization of $16.89 billion, a P/E ratio of 83.75, a price-to-earnings-growth ratio of 1.52 and a beta of 0.67.

Ryan Specialty (NYSE:RYAN) last announced its earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. The company 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%. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 EPS. As a group, analysts predict that Ryan Specialty Holdings, Inc. will post 1.82 EPS for the current year.

Ryan Specialty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders 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 annualized dividend and a dividend yield of 0.68%. Ryan Specialty’s dividend payout ratio is currently 57.14%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Morgan Stanley assumed coverage on Ryan Specialty in a report on Thursday, December 5th. They issued an “overweight” rating and a $90.00 target price for the company. The Goldman Sachs Group raised their price objective 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. Wells Fargo & Company boosted their target price on shares of Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. BMO Capital Markets raised shares of 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 research note on Tuesday, September 24th. Finally, Bank of America boosted their price objective on shares of Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.50.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management bought a new stake in Ryan Specialty in the third quarter valued at $25,000. Assetmark Inc. bought a new position in shares of Ryan Specialty during the 3rd quarter worth about $34,000. Crewe Advisors LLC acquired a new stake in shares of Ryan Specialty in the 2nd quarter valued at about $39,000. Quarry LP increased its position in Ryan Specialty by 109.3% in the 3rd quarter. Quarry LP now owns 808 shares of the company’s stock valued at $54,000 after buying an additional 422 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Ryan Specialty by 106.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,249 shares of the company’s stock worth $83,000 after buying an additional 644 shares during the period. Institutional investors and hedge funds own 84.82% of the company’s stock.

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.