Ryan Specialty (NYSE:RYAN) CEO Benjamin Miles Wuller Sells 50,000 Shares of Stock

Ryan Specialty Holdings Inc. (NYSE:RYAN) CEO Benjamin Miles Wuller sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $47.31, for a total transaction of $2,365,500.00. Following the transaction, the chief executive officer directly owned 94,095 shares in the company, valued at $4,451,634.45. This trade represents a 34.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Ryan Specialty Trading Down 1.6%

NYSE:RYAN opened at $46.12 on Friday. The firm has a 50-day simple moving average of $41.08 and a 200-day simple moving average of $39.00. Ryan Specialty Holdings Inc. has a one year low of $29.28 and a one year high of $58.91. The firm has a market cap of $11.60 billion, a P/E ratio of 56.93, a P/E/G ratio of 0.99 and a beta of 0.54. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.01 and a current ratio of 1.01.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 earned $0.47 earnings per share. Equities analysts anticipate that Ryan Specialty Holdings Inc. will post 2.18 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, November 10th will be issued a dividend of $0.13 per share. 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 currently 64.20%.

Institutional Investors Weigh In On Ryan Specialty

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vulcan Value Partners LLC boosted its stake in Ryan Specialty by 20.0% in the second quarter. Vulcan Value Partners LLC now owns 7,912,669 shares of the company’s stock valued at $298,782,000 after acquiring an additional 1,317,334 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Ryan Specialty by 0.9% during the first quarter. Principal Financial Group Inc. now owns 4,411,837 shares of the company’s stock worth $148,856,000 after purchasing an additional 37,339 shares in the last quarter. Bank of America Corp DE increased its position in shares of Ryan Specialty by 34.8% during the first quarter. Bank of America Corp DE now owns 1,508,083 shares of the company’s stock worth $50,883,000 after purchasing an additional 389,505 shares in the last quarter. Fenimore Asset Management Inc lifted its holdings in shares of Ryan Specialty by 1.8% during the 3rd quarter. Fenimore Asset Management Inc now owns 1,330,600 shares of the company’s stock valued at $49,232,000 after purchasing an additional 23,994 shares during the last quarter. Finally, Guardian Point Capital LP lifted its holdings in shares of Ryan Specialty by 15.0% during the 1st quarter. Guardian Point Capital LP now owns 575,000 shares of the company’s stock valued at $19,400,000 after purchasing an additional 75,000 shares during the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Barclays lifted their price target on Ryan Specialty from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, July 31st. UBS Group decreased their price objective on Ryan Specialty from $55.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, November 2nd. The Goldman Sachs Group raised their price objective on Ryan Specialty from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. raised their price objective on Ryan Specialty from $39.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings upgraded Ryan Specialty from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 18th. Eight 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, the company has an average rating of “Hold” and a consensus target price of $52.15.

Ryan Specialty Company Profile

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.