Amalgamated Bank Trims Stock Position in Ryan Specialty Holdings Inc. (NYSE:RYAN)

Amalgamated Bank lessened its holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 3.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 50,177 shares of the company’s stock after selling 1,604 shares during the period. Amalgamated Bank’s holdings in Ryan Specialty were worth $3,707,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mutual of America Capital Management LLC raised its position in Ryan Specialty by 1.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 56,203 shares of the company’s stock worth $3,606,000 after acquiring an additional 914 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of Ryan Specialty by 6,911.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 785,928 shares of the company’s stock worth $48,036,000 after purchasing an additional 774,718 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Ryan Specialty by 982.1% in the 4th quarter. Jones Financial Companies Lllp now owns 1,450 shares of the company’s stock worth $93,000 after purchasing an additional 1,316 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Ryan Specialty by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 974,451 shares of the company’s stock valued at $62,521,000 after purchasing an additional 36,264 shares in the last quarter. Finally, Natixis Advisors LLC grew its holdings in Ryan Specialty by 95.9% during the fourth quarter. Natixis Advisors LLC now owns 59,649 shares of the company’s stock valued at $3,827,000 after purchasing an additional 29,204 shares during the period. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Insider Buying and Selling

In other Ryan Specialty news, EVP Mark Stephen Katz sold 14,377 shares of Ryan Specialty stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $65.84, for a total value of $946,581.68. Following the sale, the executive vice president owned 1,117 shares of the company’s stock, valued at $73,543.28. The trade was a 92.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David P. Bolger sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $70.80, for a total value of $354,000.00. Following the sale, the director directly owned 71,467 shares in the company, valued at $5,059,863.60. This trade represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 52.21% of the stock is currently owned by corporate insiders.

Ryan Specialty Price Performance

Shares of NYSE:RYAN opened at $66.18 on Friday. The firm has a market cap of $17.37 billion, a price-to-earnings ratio of 194.65, a P/E/G ratio of 1.75 and a beta of 0.66. The firm has a fifty day moving average price of $68.05 and a 200 day moving average price of $68.05. Ryan Specialty Holdings Inc. has a fifty-two week low of $55.67 and a fifty-two week high of $77.16. The company has a debt-to-equity ratio of 3.45, a quick ratio of 1.05 and a current ratio of 1.05.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. Ryan Specialty had a net margin of 6.97% and a return on equity of 47.70%. The business had revenue of $690.17 million for the quarter, compared to analysts’ expectations of $680.80 million. During the same quarter in the previous year, the company earned $0.35 EPS. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. As a group, sell-side analysts expect that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.73%. Ryan Specialty’s dividend payout ratio is currently 141.18%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wells Fargo & Company decreased their price objective on Ryan Specialty from $69.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 10th. TD Cowen initiated coverage on shares of Ryan Specialty in a research note on Thursday, April 10th. They set a “buy” rating and a $89.00 target price on the stock. Morgan Stanley lifted their price target on shares of Ryan Specialty from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, May 19th. The Goldman Sachs Group raised shares of Ryan Specialty from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $74.00 to $81.00 in a research note on Tuesday, May 13th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $75.58.

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.