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

Ryan Specialty Holdings, Inc. (NYSE:RYAN) Director Nicholas Dominic Cortezi sold 35,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $66.71, for a total value of $2,334,850.00. Following the completion of the transaction, the director now directly owns 60,200 shares of the company’s stock, valued at approximately $4,015,942. The trade was a 36.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 NYSE RYAN opened at $63.73 on Thursday. 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 50-day moving average price is $70.53 and its 200-day moving average price is $64.71. The firm has a market capitalization of $16.69 billion, a P/E ratio of 82.77, a P/E/G ratio of 1.52 and a beta of 0.67. Ryan Specialty Holdings, Inc. has a 1-year low of $41.57 and a 1-year high of $75.97.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.41. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The business had revenue of $604.69 million for the quarter, compared to analyst estimates of $602.04 million. During the same quarter in the prior year, the company earned $0.32 earnings per share. The company’s quarterly revenue was up 20.5% on a year-over-year basis. Equities research analysts anticipate that Ryan Specialty Holdings, Inc. will post 1.82 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Tuesday, November 12th. Ryan Specialty’s payout ratio is currently 57.14%.

Institutional Trading of Ryan Specialty

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hollencrest Capital Management bought a new position in Ryan Specialty in the 3rd quarter valued at about $25,000. Assetmark Inc. purchased a new position in Ryan Specialty in the third quarter worth $34,000. Crewe Advisors LLC purchased a new stake in Ryan Specialty during the second quarter worth about $39,000. Quarry LP increased its stake in shares of Ryan Specialty by 109.3% during the 3rd quarter. Quarry LP now owns 808 shares of the company’s stock worth $54,000 after purchasing an additional 422 shares during the last quarter. Finally, GAMMA Investing LLC increased its position 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 buying an additional 644 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Morgan Stanley assumed coverage on Ryan Specialty in a research note on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price target for the company. The Goldman Sachs Group raised their price target on shares of Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. BMO Capital Markets raised shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $65.00 to $75.00 in a research note on Tuesday, September 24th. Bank of America lifted their target price 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. Finally, 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 research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.