Ryan Specialty Holdings, Inc. (NYSE:RYAN) Shares Sold by Bank of Montreal Can

Bank of Montreal Can reduced its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 23.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,382 shares of the company’s stock after selling 8,536 shares during the period. Bank of Montreal Can’s holdings in Ryan Specialty were worth $1,757,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in RYAN. Cerity Partners LLC boosted its position in Ryan Specialty by 93.9% in the fourth quarter. Cerity Partners LLC now owns 7,755 shares of the company’s stock valued at $498,000 after buying an additional 3,755 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Ryan Specialty by 11.4% in the 4th quarter. Federated Hermes Inc. now owns 656,963 shares of the company’s stock valued at $42,150,000 after acquiring an additional 67,310 shares during the last quarter. Waterloo Capital L.P. increased its stake in shares of Ryan Specialty by 46.9% in the fourth quarter. Waterloo Capital L.P. now owns 9,589 shares of the company’s stock worth $615,000 after acquiring an additional 3,061 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Ryan Specialty during the fourth quarter worth $545,000. Finally, Mizuho Bank Ltd. acquired a new position in Ryan Specialty during the fourth quarter valued at $49,000. 84.82% of the stock is owned by institutional investors and hedge funds.

Ryan Specialty Trading Down 1.3 %

NYSE RYAN opened at $72.12 on Thursday. Ryan Specialty Holdings, Inc. has a 12 month low of $48.48 and a 12 month high of $77.16. The stock has a market capitalization of $18.89 billion, a P/E ratio of 104.52, a PEG ratio of 1.19 and a beta of 0.66. The firm’s 50-day moving average is $70.33 and its two-hundred day moving average is $68.99. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. The company had revenue of $663.53 million for the quarter, compared to analysts’ expectations of $658.80 million. On average, sell-side analysts anticipate that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a $0.12 dividend. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.48 annualized dividend and a dividend yield of 0.67%. Ryan Specialty’s dividend payout ratio (DPR) is presently 69.57%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays lowered their target price on Ryan Specialty from $88.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Keefe, Bruyette & Woods reduced their target price on Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. UBS Group lifted their price target on shares of Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Wells Fargo & Company decreased their price objective on shares of Ryan Specialty from $69.00 to $66.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Finally, Royal Bank of Canada lowered their price target on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $75.67.

Insider Activity at Ryan Specialty

In related news, EVP Brendan Martin Mulshine sold 30,000 shares of Ryan Specialty stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $69.30, for a total value of $2,079,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $66.35, for a total transaction of $2,322,250.00. Following the completion of the sale, the director now directly owns 20,909 shares in the company, valued at approximately $1,387,312.15. This represents a 62.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 176,894 shares of company stock worth $11,779,720. Corporate insiders own 11.10% of the company’s stock.

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.