Wallace Advisory Group LLC Decreases Stock Holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Wallace Advisory Group LLC lowered its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,301 shares of the company’s stock after selling 476 shares during the period. Wallace Advisory Group LLC’s holdings in Ryan Specialty were worth $551,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in RYAN. Hollencrest Capital Management purchased a new stake in Ryan Specialty during the third quarter worth about $25,000. Assetmark Inc. purchased a new stake in Ryan Specialty during the third quarter worth about $34,000. Quarry LP boosted its holdings in Ryan Specialty by 109.3% during the third quarter. Quarry LP now owns 808 shares of the company’s stock worth $54,000 after buying an additional 422 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Ryan Specialty by 106.4% during the third quarter. GAMMA Investing LLC now owns 1,249 shares of the company’s stock worth $83,000 after buying an additional 644 shares in the last quarter. Finally, Signaturefd LLC raised its position in Ryan Specialty by 12.3% during the third quarter. Signaturefd LLC now owns 1,347 shares of the company’s stock worth $89,000 after acquiring an additional 148 shares during the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Ryan Specialty Stock Performance

NYSE:RYAN opened at $64.90 on Tuesday. The firm has a 50 day simple moving average of $68.24 and a 200-day simple moving average of $65.74. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $16.99 billion, a PE ratio of 84.29, a P/E/G ratio of 1.52 and a beta of 0.72. Ryan Specialty Holdings, Inc. has a 1-year low of $42.21 and a 1-year high of $75.97.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results 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 firm had revenue of $604.69 million during the quarter, compared to analyst estimates of $602.04 million. During the same quarter in the prior year, the business posted $0.32 earnings per share. Ryan Specialty’s revenue for the quarter was up 20.5% compared to the same quarter last year. On average, equities analysts expect that Ryan Specialty Holdings, Inc. will post 1.82 EPS for the current year.

Ryan Specialty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, November 12th. Ryan Specialty’s dividend payout ratio (DPR) is 57.14%.

Insider Buying and Selling

In related news, EVP Mark Stephen Katz sold 14,790 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the completion of the transaction, the executive vice president now owns 12,386 shares of the company’s stock, valued at approximately $884,236.54. This represents a 54.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $65.17, for a total transaction of $2,280,950.00. Following the sale, the director now owns 50,400 shares of the company’s stock, valued at approximately $3,284,568. This represents a 40.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 126,936 shares of company stock valued at $8,536,282. Insiders own 11.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on RYAN shares. BMO Capital Markets upgraded shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $65.00 to $75.00 in a research report on Tuesday, September 24th. Bank of America lifted their target price 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. Barclays lifted their target price on shares of Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Morgan Stanley started coverage on shares of Ryan Specialty in a research report on Thursday, December 5th. They set an “overweight” rating and a $90.00 target price for the company. Finally, Wells Fargo & Company lifted their target price on shares of Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $75.00.

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.