M&T Bank Corp Has $6.08 Million Holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

M&T Bank Corp decreased its position in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 5.0% in the third quarter, HoldingsChannel reports. The firm owned 91,602 shares of the company’s stock after selling 4,827 shares during the period. M&T Bank Corp’s holdings in Ryan Specialty were worth $6,081,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RYAN. State Street Corp boosted its position in shares of Ryan Specialty by 1.5% in the third quarter. State Street Corp now owns 3,273,093 shares of the company’s stock worth $217,301,000 after buying an additional 49,198 shares during the period. Janus Henderson Group PLC lifted its stake in Ryan Specialty by 0.4% in the 3rd quarter. Janus Henderson Group PLC now owns 3,148,916 shares of the company’s stock worth $209,058,000 after acquiring an additional 13,986 shares in the last quarter. Blair William & Co. IL boosted its position in Ryan Specialty by 3.4% during the 2nd quarter. Blair William & Co. IL now owns 2,866,003 shares of the company’s stock worth $165,970,000 after acquiring an additional 94,663 shares during the period. Barclays PLC grew its stake in Ryan Specialty by 1.1% during the 3rd quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock valued at $108,994,000 after acquiring an additional 17,267 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in shares of Ryan Specialty by 32.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company’s stock valued at $98,555,000 after purchasing an additional 335,180 shares during the period. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Ryan Specialty Trading Up 1.4 %

Shares of RYAN stock opened at $64.01 on Monday. Ryan Specialty Holdings, Inc. has a 12 month low of $41.57 and a 12 month high of $75.97. The business’s 50 day moving average is $70.23 and its two-hundred day moving average is $64.80. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. The company has a market cap of $16.76 billion, a PE ratio of 83.13, a price-to-earnings-growth ratio of 1.52 and a beta of 0.67.

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

Ryan Specialty Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on RYAN. Barclays raised their price target on shares of Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Wells Fargo & Company boosted 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, October 10th. BMO Capital Markets upgraded Ryan Specialty from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $65.00 to $75.00 in a report on Tuesday, September 24th. Morgan Stanley initiated coverage on Ryan Specialty in a research note on Thursday, December 5th. They issued an “overweight” rating and a $90.00 target price on the stock. Finally, The Goldman Sachs Group raised their price target on Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. One investment 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. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $73.50.

Insider Activity

In other Ryan Specialty news, EVP Mark Stephen Katz sold 14,790 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the sale, the executive vice president now directly owns 12,386 shares of the company’s stock, valued at approximately $884,236.54. This represents a 54.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $67.39, for a total transaction of $2,358,650.00. Following the completion of the transaction, the director now owns 65,100 shares of the company’s stock, valued at $4,387,089. This trade represents a 34.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,845 shares of company stock worth $6,249,417. Company insiders own 11.10% 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.