Mechanics Bank Trust Department Cuts Holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Mechanics Bank Trust Department reduced its holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 44.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,263 shares of the company’s stock after selling 2,576 shares during the quarter. Mechanics Bank Trust Department’s holdings in Ryan Specialty were worth $209,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Bar Harbor Wealth Management raised its position in Ryan Specialty by 5.9% in the fourth quarter. Bar Harbor Wealth Management now owns 168,871 shares of the company’s stock worth $10,835,000 after acquiring an additional 9,482 shares in the last quarter. Cooper Financial Group increased its holdings in shares of Ryan Specialty by 9.9% in the 4th quarter. Cooper Financial Group now owns 3,808 shares of the company’s stock valued at $244,000 after purchasing an additional 342 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Ryan Specialty by 38.1% in the fourth quarter. GAMMA Investing LLC now owns 1,725 shares of the company’s stock valued at $111,000 after purchasing an additional 476 shares during the period. JPMorgan Chase & Co. boosted its holdings in Ryan Specialty by 107.5% during the third quarter. JPMorgan Chase & Co. now owns 459,464 shares of the company’s stock worth $30,504,000 after buying an additional 238,064 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Ryan Specialty by 148.9% during the third quarter. Principal Financial Group Inc. now owns 851,704 shares of the company’s stock worth $56,545,000 after buying an additional 509,548 shares during the period. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Ryan Specialty Stock Down 0.5 %

RYAN stock opened at $66.57 on Tuesday. The company has a 50 day moving average price of $67.84 and a two-hundred day moving average price of $66.06. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $17.43 billion, a P/E ratio of 86.46, a PEG ratio of 1.12 and a beta of 0.72. Ryan Specialty Holdings, Inc. has a one year low of $42.21 and a one year high of $75.97.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to analyst estimates of $602.04 million. During the same period in the prior year, the firm posted $0.32 earnings per share. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. As a group, sell-side analysts expect that Ryan Specialty Holdings, Inc. will post 1.82 EPS for the current year.

Ryan Specialty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.44 annualized dividend and a dividend yield of 0.66%. Ryan Specialty’s dividend payout ratio is presently 57.14%.

Insider Activity at Ryan Specialty

In other news, Director David P. Bolger sold 7,055 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $70.88, for a total value of $500,058.40. Following the transaction, the director now directly owns 78,149 shares in the company, valued at $5,539,201.12. This trade represents a 8.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $65.99, for a total value of $2,309,650.00. Following the sale, the director now owns 35,609 shares of the company’s stock, valued at $2,349,837.91. The trade was a 49.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,402 shares of company stock worth $12,762,989. 11.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

RYAN has been the subject of a number of research reports. BMO Capital Markets upgraded shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $65.00 to $75.00 in a research report on Tuesday, September 24th. Barclays lifted their price objective 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 dropped their price target on Ryan Specialty from $79.00 to $77.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Bank of America boosted their price objective on shares of Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley began coverage on shares of Ryan Specialty in a report on Thursday, December 5th. They set an “overweight” rating and a $90.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.40.

Ryan Specialty 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.