M&T Bank Corp Sells 11,395 Shares of Ryan Specialty Holdings Inc. $RYAN

M&T Bank Corp lessened its stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 16.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 56,659 shares of the company’s stock after selling 11,395 shares during the period. M&T Bank Corp’s holdings in Ryan Specialty were worth $3,852,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RYAN. MAI Capital Management grew its stake in shares of Ryan Specialty by 65.3% during the 2nd quarter. MAI Capital Management now owns 476 shares of the company’s stock valued at $32,000 after acquiring an additional 188 shares during the period. ProShare Advisors LLC raised its stake in Ryan Specialty by 5.2% during the 2nd quarter. ProShare Advisors LLC now owns 4,772 shares of the company’s stock worth $324,000 after acquiring an additional 238 shares during the period. Wealth Alliance LLC lifted its holdings in Ryan Specialty by 6.4% during the second quarter. Wealth Alliance LLC now owns 4,371 shares of the company’s stock valued at $297,000 after purchasing an additional 263 shares in the last quarter. Wallace Advisory Group LLC boosted its position in shares of Ryan Specialty by 5.8% in the second quarter. Wallace Advisory Group LLC now owns 4,837 shares of the company’s stock worth $357,000 after purchasing an additional 267 shares during the period. Finally, SVB Wealth LLC purchased a new stake in shares of Ryan Specialty in the first quarter worth $26,000. Institutional investors own 84.82% of the company’s stock.

Ryan Specialty Trading Down 1.2%

Shares of RYAN stock opened at $56.14 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 2.72. The stock has a market capitalization of $14.81 billion, a price-to-earnings ratio of 122.05, a price-to-earnings-growth ratio of 1.59 and a beta of 0.62. Ryan Specialty Holdings Inc. has a 12-month low of $50.08 and a 12-month high of $77.16. The stock’s 50-day moving average price is $55.68 and its 200-day moving average price is $60.05.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The business had revenue of $754.58 million during the quarter, compared to analysts’ expectations of $742.35 million. Ryan Specialty had a return on equity of 47.93% and a net margin of 7.61%.The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 EPS. Equities research analysts predict that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.9%. The ex-dividend date was Monday, November 10th. Ryan Specialty’s payout ratio is currently 104.35%.

Analysts Set New Price Targets

A number of research firms recently weighed in on RYAN. UBS Group lowered their target price on shares of Ryan Specialty from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Morgan Stanley boosted their price objective on Ryan Specialty from $65.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ryan Specialty in a research report on Wednesday, October 8th. Cowen reissued a “buy” rating on shares of Ryan Specialty in a research note on Wednesday, November 26th. Finally, TD Cowen dropped their price target on Ryan Specialty from $89.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Ryan Specialty presently has an average rating of “Moderate Buy” and a consensus price target of $66.60.

Insider Transactions at Ryan Specialty

In other Ryan Specialty news, Chairman Patrick G. Ryan acquired 276,634 shares of the stock in a transaction on Friday, September 12th. The stock was acquired at an average price of $51.84 per share, for a total transaction of $14,340,706.56. Following the completion of the transaction, the chairman directly owned 13,699,959 shares of the company’s stock, valued at $710,205,874.56. This trade represents a 2.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 52.21% of the stock is currently owned by insiders.

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.