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 stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $65.99, for a total value of $2,309,650.00. Following the transaction, the director now directly owns 35,609 shares of the company’s stock, valued at approximately $2,349,837.91. The trade was a 49.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Nicholas Dominic Cortezi also recently made the following trade(s):

• On Monday, January 13th, Nicholas Dominic Cortezi sold 29,466 shares of Ryan Specialty stock. The shares were sold at an average price of $65.06, for a total value of $1,917,057.96.
• On Friday, December 20th, Nicholas Dominic Cortezi sold 91 shares of Ryan Specialty stock. The shares were sold at an average price of $65.00, for a total value of $5,915.00.
• On Wednesday, December 18th, Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock. The shares were sold at an average price of $65.17, for a total value of $2,280,950.00.
• On Monday, December 16th, Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock. The stock was sold at an average price of $66.71, for a total value 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 value of $2,358,650.00.

Ryan Specialty Price Performance

Shares of NYSE:RYAN opened at $66.83 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. Ryan Specialty Holdings, Inc. has a 1 year low of $42.21 and a 1 year high of $75.97. The business has a fifty day simple moving average of $68.13 and a 200 day simple moving average of $65.80. The firm has a market cap of $17.50 billion, a price-to-earnings ratio of 86.79, a P/E/G ratio of 1.12 and a beta of 0.72.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $602.04 million. During the same period last year, the company earned $0.32 earnings per share. Ryan Specialty’s quarterly revenue was up 20.5% compared to the same quarter last year. As a group, sell-side analysts predict 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. Shareholders of record on Tuesday, November 12th were issued 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 0.66%. Ryan Specialty’s dividend payout ratio (DPR) is currently 57.14%.

Analysts Set New Price Targets

Several research firms have recently weighed in on RYAN. Morgan Stanley began coverage on Ryan Specialty in a research note on Thursday, December 5th. They set an “overweight” rating and a $90.00 price objective for the company. Wells Fargo & Company reduced their price objective on Ryan Specialty from $68.00 to $64.00 and set an “equal weight” rating for the company in a research note on Tuesday. BMO Capital Markets raised Ryan Specialty from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $65.00 to $75.00 in a research note on Tuesday, September 24th. Bank of America raised their price objective on Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group increased their target price on Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $74.40.

Hedge Funds Weigh In On Ryan Specialty

Institutional investors have recently bought and sold shares of the stock. Xponance Inc. raised its holdings in Ryan Specialty by 67.2% during the second quarter. Xponance Inc. now owns 20,686 shares of the company’s stock valued at $1,198,000 after buying an additional 8,312 shares in the last quarter. Jennison Associates LLC grew its position in shares of Ryan Specialty by 60.2% in the third quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock valued at $68,054,000 after purchasing an additional 385,366 shares during the last quarter. Geneva Partners LLC acquired a new stake in shares of Ryan Specialty in the third quarter valued at about $2,537,000. JPMorgan Chase & Co. grew its position in shares of Ryan Specialty by 107.5% in the third quarter. JPMorgan Chase & Co. now owns 459,464 shares of the company’s stock valued at $30,504,000 after purchasing an additional 238,064 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Ryan Specialty by 1.1% in the third quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock valued at $108,994,000 after purchasing an additional 17,267 shares during the last quarter. 84.82% of the stock is currently owned by 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.