Insider Selling: Ryan Specialty Holdings, Inc. (NYSE:RYAN) Director Sells 35,000 Shares of Stock

23 Dec 2024, 15:28 by Danessa Lincoln · The Markets Daily

Ryan Specialty Holdings, Inc. (NYSE:RYAN – Get Free Report) Director Nicholas Dominic Cortezi sold 35,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $65.17, for a total transaction of $2,280,950.00. Following the completion of the sale, the director now owns 50,400 shares of the company’s stock, valued at $3,284,568. The trade was a 40.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

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 transaction of $5,915.00.
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 shares were sold at an average price of $67.39, for a total value of $2,358,650.00.

Ryan Specialty Price Performance

Shares of RYAN stock traded down $0.49 during trading hours on Monday, hitting $63.52. 109,862 shares of the company’s stock were exchanged, compared to its average volume of 874,911. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $16.63 billion, a price-to-earnings ratio of 82.49, a price-to-earnings-growth ratio of 1.52 and a beta of 0.67. The stock’s 50-day moving average is $70.23 and its 200-day moving average is $64.80. Ryan Specialty Holdings, Inc. has a 52 week low of $41.65 and a 52 week high of $75.97.

Ryan Specialty (NYSE:RYAN – Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. The company had revenue of $604.69 million during the quarter, compared to the consensus estimate of $602.04 million. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The firm’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 earnings per share. As a group, research analysts forecast that Ryan Specialty Holdings, Inc. will post 1.82 EPS for the current year.

Ryan Specialty Dividend Announcement

The firm 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. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Tuesday, November 12th. Ryan Specialty’s dividend payout ratio (DPR) is 57.14%.

Hedge Funds Weigh In On Ryan Specialty

Large investors have recently bought and sold shares of the business. Louisiana State Employees Retirement System bought a new position in Ryan Specialty during the 2nd quarter worth approximately $1,668,000. Retirement Systems of Alabama bought a new stake in shares of Ryan Specialty in the 2nd quarter valued at $7,316,000. Bank of New York Mellon Corp lifted its holdings in Ryan Specialty by 132.2% during the second quarter. Bank of New York Mellon Corp now owns 836,209 shares of the company’s stock worth $48,425,000 after acquiring an additional 476,126 shares in the last quarter. State of Michigan Retirement System bought a new stake in shares of Ryan Specialty in the second quarter worth about $1,621,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ryan Specialty by 14.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,069 shares of the company’s stock worth $1,336,000 after purchasing an additional 2,909 shares during the period. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RYAN shares. Wells Fargo & Company raised 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. Barclays raised their target price on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Bank of America boosted their price target on shares of Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 10th. BMO Capital Markets raised shares of 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 report on Tuesday, September 24th. Finally, The Goldman Sachs Group increased their price target on shares of Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a research 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 given a buy rating to the stock. Based on data from MarketBeat.com, Ryan Specialty presently has a consensus rating of “Hold” and an average target price of $73.50.

Read Our Latest Analysis on RYAN

Ryan Specialty Company Profile

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