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

Ryan Specialty Holdings, Inc. (NYSE:RYAN - Get Free Report) Director Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $65.17, for a total transaction of $2,280,950.00. Following the transaction, the director now owns 50,400 shares in the company, valued at approximately $3,284,568. This trade represents a 40.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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 stock was sold at an average price of $65.00, for a total value of $5,915.00.
• On Monday, December 16th, Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock. The shares were 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 transaction of $2,358,650.00.

Ryan Specialty Stock Down 0.2 %

RYAN stock traded down $0.12 during midday trading on Monday, reaching $63.89. 677,736 shares of the company's stock traded hands, compared to its average volume of 877,499. Ryan Specialty Holdings, Inc. has a 52 week low of $41.65 and a 52 week high of $75.97. The company has a market cap of $16.73 billion, a price-to-earnings ratio of 82.97, a P/E/G ratio of 1.52 and a beta of 0.67. The firm's fifty day moving average price is $70.23 and its 200-day moving average price is $64.86. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, hitting analysts' consensus estimates 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 net margin of 10.31% and a return on equity of 47.90%. The firm's revenue was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 EPS. As a group, sell-side analysts forecast that Ryan Specialty Holdings, Inc. will post 1.82 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.69%. Ryan Specialty's dividend payout ratio is presently 57.14%.

Institutional Investors Weigh In On Ryan Specialty

Several institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its holdings in Ryan Specialty by 148.9% during the 3rd quarter. Principal Financial Group Inc. now owns 851,704 shares of the company's stock worth $56,545,000 after acquiring an additional 509,548 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Ryan Specialty by 132.2% during the second quarter. Bank of New York Mellon Corp now owns 836,209 shares of the company's stock worth $48,425,000 after purchasing an additional 476,126 shares during the last quarter. Jennison Associates LLC grew its position in Ryan Specialty by 60.2% in the 3rd quarter. Jennison Associates LLC now owns 1,025,063 shares of the company's stock worth $68,054,000 after purchasing an additional 385,366 shares in the last quarter. Eagle Asset Management Inc. grew its position in Ryan Specialty by 32.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company's stock worth $98,555,000 after purchasing an additional 335,180 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Ryan Specialty by 43.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 938,187 shares of the company's stock valued at $62,286,000 after buying an additional 286,380 shares during the last quarter. Institutional investors own 84.82% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RYAN. BMO Capital Markets raised shares of Ryan Specialty from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $65.00 to $75.00 in a research note on Tuesday, September 24th. 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 report on Thursday, October 10th. Morgan Stanley assumed coverage on Ryan Specialty in a research report on Thursday, December 5th. They set an "overweight" rating and a $90.00 target price on the stock. The Goldman Sachs Group lifted their target price on Ryan Specialty from $64.00 to $72.00 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company increased their price target on Ryan Specialty from $63.00 to $70.00 and gave the stock an "equal weight" rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Ryan Specialty has a consensus rating of "Hold" and a consensus target price 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.