Ryan Specialty Holdings, Inc. (NYSE:RYAN) EVP Brendan Martin Mulshine Sells 30,000 Shares

Ryan Specialty Holdings, Inc. (NYSE:RYAN) EVP Brendan Martin Mulshine sold 30,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $69.30, for a total transaction of $2,079,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Ryan Specialty Stock Up 2.1 %

Ryan Specialty stock traded up $1.46 during mid-day trading on Monday, reaching $71.33. 932,226 shares of the company were exchanged, compared to its average volume of 905,859. Ryan Specialty Holdings, Inc. has a 12-month low of $48.48 and a 12-month high of $75.97. The business has a fifty day moving average of $67.11 and a 200 day moving average of $67.76. The firm has a market cap of $18.68 billion, a P/E ratio of 103.38, a PEG ratio of 1.19 and a beta of 0.71. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01.

Ryan Specialty (NYSE:RYAN) last posted its earnings results on Thursday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.02). Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The company had revenue of $663.53 million during the quarter, compared to analysts’ expectations of $658.80 million. Research analysts anticipate that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.67%. This is an increase from Ryan Specialty’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, March 4th. Ryan Specialty’s dividend payout ratio (DPR) is 69.57%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RYAN shares. Barclays increased their price target on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods cut their price target on shares of Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. Wells Fargo & Company lifted their price objective on shares of Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, February 21st. Morgan Stanley began coverage on shares of 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, UBS Group lifted their price target on shares of Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $75.27.

Hedge Funds Weigh In On Ryan Specialty

Several institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in Ryan Specialty in the 4th quarter worth approximately $94,484,000. Norges Bank purchased a new position in shares of Ryan Specialty in the fourth quarter worth $78,358,000. Millennium Management LLC lifted its stake in shares of Ryan Specialty by 1,111.4% during the fourth quarter. Millennium Management LLC now owns 1,174,086 shares of the company’s stock worth $75,329,000 after buying an additional 1,077,169 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Ryan Specialty by 115.2% during the fourth quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company’s stock valued at $117,619,000 after buying an additional 981,505 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in shares of Ryan Specialty by 6,911.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 785,928 shares of the company’s stock valued at $48,036,000 after acquiring an additional 774,718 shares during the period. 84.82% of the stock is owned by hedge funds and other institutional investors.

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.