Ryan Specialty Holdings, Inc. (NYSE:RYAN) Shares Sold by Portside Wealth Group LLC

Portside Wealth Group LLC lowered its holdings in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 2.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,801 shares of the company’s stock after selling 835 shares during the quarter. Portside Wealth Group LLC’s holdings in Ryan Specialty were worth $2,310,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Champlain Investment Partners LLC increased its stake in shares of Ryan Specialty by 28.0% during the first quarter. Champlain Investment Partners LLC now owns 4,937,332 shares of the company’s stock worth $274,022,000 after purchasing an additional 1,079,505 shares in the last quarter. Blair William & Co. IL increased its stake in Ryan Specialty by 3.4% during the 2nd quarter. Blair William & Co. IL now owns 2,866,003 shares of the company’s stock worth $165,970,000 after buying an additional 94,663 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Ryan Specialty by 33.9% during the first quarter. Bessemer Group Inc. now owns 1,925,864 shares of the company’s stock valued at $106,886,000 after acquiring an additional 488,067 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Ryan Specialty by 148.9% in the third quarter. Principal Financial Group Inc. now owns 851,704 shares of the company’s stock valued at $56,545,000 after acquiring an additional 509,548 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Ryan Specialty by 132.2% in 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 during the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ryan Specialty

In related news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of Ryan Specialty stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $65.18, for a total value of $1,709,866.94. Following the completion of the transaction, the executive vice president now owns 24,845 shares in the company, valued at $1,619,397.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $65.18, for a total transaction of $1,709,866.94. Following the sale, the executive vice president now owns 24,845 shares of the company’s stock, valued at approximately $1,619,397.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nicholas Dominic Cortezi sold 2,325 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $64.60, for a total value of $150,195.00. Following the completion of the transaction, the director now directly owns 3,463 shares of the company’s stock, valued at $223,709.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 107,136 shares of company stock valued at $6,960,032 in the last 90 days. Company insiders own 11.10% of the company’s stock.

Ryan Specialty Stock Up 3.2 %

Ryan Specialty stock opened at $71.14 on Friday. 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 firm has a 50 day moving average price of $67.43 and a 200 day moving average price of $60.93. Ryan Specialty Holdings, Inc. has a fifty-two week low of $41.49 and a fifty-two week high of $73.10. The company has a market capitalization of $18.63 billion, a PE ratio of 92.39, a price-to-earnings-growth ratio of 1.52 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share (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 for the quarter, compared to the consensus estimate of $602.04 million. During the same quarter in the previous year, the business earned $0.32 EPS. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. Research analysts expect that Ryan Specialty Holdings, Inc. will post 1.81 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.44 dividend on an annualized basis and a yield of 0.62%. Ryan Specialty’s dividend payout ratio (DPR) is presently 57.14%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Barclays started coverage on Ryan Specialty in a report on Wednesday, September 4th. They issued an “overweight” rating and a $76.00 price objective on the stock. Citigroup raised their price target on shares of Ryan Specialty from $56.00 to $62.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Bank of America upped their price objective on shares of Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. BMO Capital Markets raised shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $65.00 to $75.00 in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. upped their price target on Ryan Specialty from $54.00 to $56.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $70.33.

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.