Ryan Specialty Holdings, Inc. (NYSE:RYAN) EVP Sells $1,055,858.10 in Stock

Ryan Specialty Holdings, Inc. (NYSE:RYAN) EVP Mark Stephen Katz sold 14,790 shares of Ryan Specialty stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the completion of the sale, the executive vice president now directly owns 12,386 shares of the company’s stock, valued at approximately $884,236.54. This trade represents a 54.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Ryan Specialty Stock Down 1.2 %

RYAN opened at $70.88 on Friday. Ryan Specialty Holdings, Inc. has a fifty-two week low of $41.49 and a fifty-two week high of $73.10. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $18.56 billion, a price-to-earnings ratio of 92.05, a price-to-earnings-growth ratio of 1.63 and a beta of 0.62. The firm’s fifty day moving average is $68.14 and its 200 day moving average is $61.66.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. The firm had revenue of $604.69 million during 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 business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 earnings per share. On average, sell-side analysts forecast that Ryan Specialty Holdings, Inc. will post 1.8 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Tuesday, November 12th. Ryan Specialty’s payout ratio is currently 57.14%.

Hedge Funds Weigh In On Ryan Specialty

Hedge funds have recently modified their holdings of the stock. Champlain Investment Partners LLC increased its holdings in Ryan Specialty by 28.0% in the 1st quarter. Champlain Investment Partners LLC now owns 4,937,332 shares of the company’s stock valued at $274,022,000 after acquiring an additional 1,079,505 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of Ryan Specialty by 3.4% in the second quarter. Blair William & Co. IL now owns 2,866,003 shares of the company’s stock worth $165,970,000 after purchasing an additional 94,663 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Ryan Specialty by 33.9% in the first quarter. Bessemer Group Inc. now owns 1,925,864 shares of the company’s stock worth $106,886,000 after buying an additional 488,067 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in Ryan Specialty by 32.1% during the third quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company’s stock valued at $98,555,000 after buying an additional 335,180 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in Ryan Specialty by 60.2% during the 3rd quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock valued at $68,054,000 after buying an additional 385,366 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on RYAN shares. 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 report on Thursday, October 10th. Barclays initiated coverage on shares of Ryan Specialty in a research report on Wednesday, September 4th. They set an “overweight” rating and a $76.00 price target for the company. JPMorgan Chase & Co. boosted their target price on shares of Ryan Specialty from $54.00 to $56.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. Wells Fargo & Company increased their price target on shares of Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, BMO Capital Markets raised shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $65.00 to $75.00 in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $70.33.

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.