Bank of New York Mellon Corp Sells 298,648 Shares of Ryan Specialty Holdings Inc. $RYAN

Bank of New York Mellon Corp reduced its position in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 31.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 637,088 shares of the company's stock after selling 298,648 shares during the period. Bank of New York Mellon Corp owned 0.24% of Ryan Specialty worth $21,495,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its position in shares of Ryan Specialty by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 32,797 shares of the company's stock valued at $1,848,000 after acquiring an additional 203 shares during the last quarter. Covestor Ltd increased its holdings in Ryan Specialty by 16.8% during the 4th quarter. Covestor Ltd now owns 1,467 shares of the company's stock worth $76,000 after purchasing an additional 211 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in shares of Ryan Specialty by 1.0% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 25,355 shares of the company's stock worth $1,309,000 after buying an additional 240 shares in the last quarter. Federation des caisses Desjardins du Quebec raised its holdings in shares of Ryan Specialty by 7.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 3,313 shares of the company's stock valued at $171,000 after purchasing an additional 240 shares during the last quarter. Finally, Snowden Capital Advisors LLC increased its stake in Ryan Specialty by 1.3% in the 2nd quarter. Snowden Capital Advisors LLC now owns 21,135 shares of the company's stock valued at $1,437,000 after buying an additional 264 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company's stock.

Ryan Specialty Trading Up 6.5%

Shares of NYSE RYAN opened at $45.98 on Wednesday. The stock has a market cap of $12.12 billion, a P/E ratio of 59.71, a price-to-earnings-growth ratio of 0.94 and a beta of 0.61. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.02 and a current ratio of 1.02. Ryan Specialty Holdings Inc. has a 52-week low of $29.28 and a 52-week high of $65.45. The firm has a 50 day moving average price of $37.03 and a two-hundred day moving average price of $38.46.

Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.43 by $0.04. Ryan Specialty had a return on equity of 41.33% and a net margin of 8.21%.The firm had revenue of $795.23 million for the quarter, compared to the consensus estimate of $781.44 million. During the same period in the previous year, the business earned $0.39 EPS. The business's quarterly revenue was up 15.2% compared to the same quarter last year. As a group, equities analysts forecast that Ryan Specialty Holdings Inc. will post 2.06 EPS for the current year.

Ryan Specialty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.52 dividend on an annualized basis and a yield of 1.1%. Ryan Specialty's dividend payout ratio is 67.53%.

Ryan Specialty declared that its board has initiated a share repurchase plan on Tuesday, May 26th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to buy up to 3.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RYAN. Atlantic Securities set a $69.00 price objective on Ryan Specialty in a report on Wednesday, July 15th. Wells Fargo & Company lifted their price target on Ryan Specialty from $31.00 to $39.00 and gave the stock an "equal weight" rating in a report on Thursday, July 9th. Weiss Ratings restated a "sell (d+)" rating on shares of Ryan Specialty in a research report on Monday, May 4th. Piper Sandler raised their price target on Ryan Specialty from $40.00 to $44.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Finally, Zacks Research upgraded Ryan Specialty from a "strong sell" rating to a "hold" rating in a research note on Tuesday, June 30th. Eight analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $50.00.

Insider Buying and Selling

In other Ryan Specialty news, EVP Mark Stephen Katz bought 3,215 shares of the stock in a transaction on Wednesday, June 3rd. The stock was acquired at an average cost of $31.07 per share, for a total transaction of $99,890.05. Following the completion of the acquisition, the executive vice president owned 4,332 shares in the company, valued at $134,595.24. This trade represents a 287.82% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director John W. Rogers, Jr. purchased 7,500 shares of Ryan Specialty stock in a transaction on Wednesday, June 10th. The stock was bought at an average price of $35.16 per share, with a total value of $263,700.00. Following the completion of the acquisition, the director directly owned 117,933 shares of the company's stock, valued at approximately $4,146,524.28. This trade represents a 6.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 130,715 shares of company stock valued at $4,263,590 over the last 90 days. Company insiders own 52.03% of the company's stock.

Ryan Specialty Company Profile

Ryan Specialty Group, Inc NYSE: RYAN is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients' unique needs.

Ryan Specialty's core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.

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