Insider Selling: Ryan Specialty (NYSE:RYAN) CEO Sells 50,000 Shares of Company Stock

Ryan Specialty Holdings Inc. (NYSE:RYAN) CEO Benjamin Miles Wuller sold 50,000 shares of Ryan Specialty stock in a transaction on Monday, November 9th. The stock was sold at an average price of $47.31, for a total transaction of $2,365,500.00. Following the sale, the chief executive officer directly owned 94,095 shares in the company, valued at approximately $4,451,634.45. This trade represents a 34.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Ryan Specialty Price Performance

Shares of Ryan Specialty stock traded down $0.75 during trading hours on Thursday, reaching $46.12. 1,189,386 shares of the company’s stock were exchanged, compared to its average volume of 2,204,902. The business has a fifty day moving average of $41.00 and a two-hundred day moving average of $39.02. The company has a market capitalization of $11.60 billion, a P/E ratio of 56.93, a price-to-earnings-growth ratio of 0.99 and a beta of 0.54. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 4.03. Ryan Specialty Holdings Inc. has a 1 year low of $29.28 and a 1 year high of $58.91.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.02. The firm had revenue of $789.96 million for the quarter, compared to the consensus estimate of $792.99 million. Ryan Specialty had a net margin of 8.25% and a return on equity of 47.77%. During the same period last year, the firm posted $0.47 earnings per share. As a group, research analysts predict that Ryan Specialty Holdings Inc. will post 2.18 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, November 10th will be issued a $0.13 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $0.52 dividend on an annualized basis and a yield of 1.1%. Ryan Specialty’s dividend payout ratio is presently 64.20%.

Institutional Investors Weigh In On Ryan Specialty

Hedge funds have recently modified their holdings of the company. Allworth Financial LP increased its position in Ryan Specialty by 70.0% during the second quarter. Allworth Financial LP now owns 787 shares of the company’s stock worth $30,000 after purchasing an additional 324 shares during the last quarter. Fortitude Family Office LLC purchased a new position in Ryan Specialty during the third quarter worth about $34,000. Parallel Advisors LLC raised its stake in Ryan Specialty by 54.9% during the first quarter. Parallel Advisors LLC now owns 1,013 shares of the company’s stock worth $34,000 after purchasing an additional 359 shares during the period. Jacobi Capital Management LLC acquired a new position in Ryan Specialty in the 3rd quarter valued at about $42,000. Finally, Integrated Wealth Concepts LLC acquired a new position in Ryan Specialty in the 2nd quarter valued at about $73,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RYAN shares. UBS Group decreased their target price on shares of Ryan Specialty from $55.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, November 2nd. The Goldman Sachs Group upped their price target on Ryan Specialty from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Citigroup increased their price target on Ryan Specialty from $50.00 to $53.50 and gave the company a “buy” rating in a report on Monday, August 3rd. Barclays lifted their price objective on Ryan Specialty from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Finally, Keefe, Bruyette & Woods boosted their price objective on Ryan Specialty from $48.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ryan Specialty has an average rating of “Hold” and a consensus target price of $52.15.

About Ryan Specialty

Ryan Specialty is a specialty insurance organization that provides distribution, underwriting and related services to insurance brokers, agents and carriers. Its business includes wholesale brokerage, which helps insurance professionals place coverage for risks that may be difficult to insure in the standard market, and underwriting management services for specialty insurance products. The company works across a range of property and casualty insurance lines, including professional liability, transportation, property, casualty and other specialty risks.