Portside Wealth Group LLC Lowers Stock Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Portside Wealth Group LLC decreased its holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Other large investors have also recently bought and sold shares of the company. Signaturefd LLC increased its holdings in shares of Ryan Specialty by 12.3% in the third quarter. Signaturefd LLC now owns 1,347 shares of the company’s stock valued at $89,000 after purchasing an additional 148 shares during the period. UMB Bank n.a. grew its position in Ryan Specialty by 5.2% in the 3rd quarter. UMB Bank n.a. now owns 5,224 shares of the company’s stock valued at $347,000 after buying an additional 256 shares during the last quarter. GAMMA Investing LLC increased its stake in Ryan Specialty by 96.4% in the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock valued at $35,000 after buying an additional 297 shares during the period. CHICAGO TRUST Co NA raised its position in Ryan Specialty by 10.3% during the 3rd quarter. CHICAGO TRUST Co NA now owns 4,838 shares of the company’s stock worth $321,000 after buying an additional 450 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Ryan Specialty by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 28,246 shares of the company’s stock worth $1,636,000 after acquiring an additional 611 shares during the period. Institutional investors and hedge funds own 84.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RYAN shares. UBS Group boosted their price target on shares of Ryan Specialty from $67.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Citigroup lifted their price objective on Ryan Specialty from $56.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Barclays initiated coverage on Ryan Specialty in a research note on Wednesday, September 4th. They set an “overweight” rating and a $76.00 target price for the company. BMO Capital Markets upgraded 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 note on Tuesday, September 24th. Finally, Bank of America increased their price objective on Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $70.33.

Insider Buying and Selling

In other news, Director Nicholas Dominic Cortezi sold 1,500 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $65.02, for a total value of $97,530.00. Following the sale, the director now directly owns 25,123 shares in the company, valued at $1,633,497.46. This represents 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 the SEC website. In related news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were 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 in the company, valued at approximately $1,619,397.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 1,500 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $65.02, for a total value of $97,530.00. Following the completion of the transaction, the director now owns 25,123 shares of the company’s stock, valued at $1,633,497.46. 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 worth $6,960,032 in the last ninety days. Insiders own 11.10% of the company’s stock.

Ryan Specialty Stock Up 3.2 %

RYAN 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 company has a market cap of $18.63 billion, a price-to-earnings ratio of 92.39, a PEG ratio of 1.52 and a beta of 0.62. Ryan Specialty Holdings, Inc. has a one year low of $41.49 and a one year high of $73.10. The business’s fifty day moving average is $67.43 and its two-hundred day moving average is $60.93.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, hitting the consensus estimate of $0.41. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The business had revenue of $604.69 million for the quarter, compared to analyst estimates of $602.04 million. During the same period in the previous year, the firm earned $0.32 EPS. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. Analysts anticipate that Ryan Specialty Holdings, Inc. will post 1.81 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be paid 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 dividend yield of 0.62%. Ryan Specialty’s dividend payout ratio (DPR) is 57.14%.

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.