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 Friday, January 17th. The stock was sold at an average price of $67.15, for a total value of $2,350,250.00. Following the transaction, the director now directly owns 25,809 shares of the company’s stock, valued at approximately $1,733,074.35. This represents a 57.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Tuesday, January 21st, Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock. The stock was sold at an average price of $66.35, for a total value of $2,322,250.00.
• On Wednesday, January 15th, Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock. The shares were sold at an average price of $65.99, for a total value of $2,309,650.00.
• 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 shares were 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 Stock Performance

Shares of RYAN stock opened at $64.19 on Friday. The company has a market cap of $16.81 billion, a price-to-earnings ratio of 83.36, a price-to-earnings-growth ratio of 1.16 and a beta of 0.72. The stock has a 50 day simple moving average of $67.49 and a 200-day simple moving average of $66.10. Ryan Specialty Holdings, Inc. has a 12-month low of $42.21 and a 12-month high of $75.97. 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 (NYSE:RYAN) last issued its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.41. The business 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 company’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. On average, equities analysts forecast 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 issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Tuesday, November 12th. Ryan Specialty’s dividend payout ratio is currently 57.14%.

Analysts Set New Price Targets

RYAN has been the subject of several analyst reports. Bank of America upped their price objective on Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. The Goldman Sachs Group upped their price objective on Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods reduced their price objective on Ryan Specialty from $79.00 to $77.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. 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, January 14th. Finally, Morgan Stanley initiated 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. One 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, the stock presently has a consensus rating of “Hold” and an average target price of $74.40.

Institutional Investors Weigh In On Ryan Specialty

A number of institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp grew its holdings in shares of Ryan Specialty by 1.5% in the 3rd quarter. State Street Corp now owns 3,273,093 shares of the company’s stock worth $217,301,000 after acquiring an additional 49,198 shares during the period. Janus Henderson Group PLC grew its holdings in shares of 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 during the period. Barclays PLC grew its holdings in shares of Ryan Specialty by 1.1% in the 3rd quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock worth $108,994,000 after acquiring an additional 17,267 shares during the period. Eagle Asset Management Inc. grew 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 worth $98,555,000 after acquiring an additional 335,180 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of Ryan Specialty by 60.2% in the 3rd quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock worth $68,054,000 after acquiring an additional 385,366 shares during the period. Institutional investors and hedge funds own 84.82% of the company’s stock.

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.