M&T Bank Corp Sells 4,699 Shares of Ryan Specialty Holdings Inc. (NYSE:RYAN)

M&T Bank Corp lessened its position in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 6.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,054 shares of the company's stock after selling 4,699 shares during the quarter. M&T Bank Corp's holdings in Ryan Specialty were worth $5,027,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Rakuten Securities Inc. bought a new position in Ryan Specialty in the fourth quarter valued at $27,000. Golden State Wealth Management LLC bought a new position in Ryan Specialty in the first quarter valued at $35,000. Kapitalo Investimentos Ltda bought a new position in Ryan Specialty in the fourth quarter valued at $36,000. Fifth Third Bancorp increased its stake in Ryan Specialty by 202.5% in the first quarter. Fifth Third Bancorp now owns 484 shares of the company's stock valued at $36,000 after acquiring an additional 324 shares during the last quarter. Finally, Mizuho Bank Ltd. bought a new position in Ryan Specialty in the fourth quarter valued at $49,000. Institutional investors own 84.82% of the company's stock.

Insider Activity at Ryan Specialty

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

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods reduced their target price on Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Barclays cut their price target on shares of Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating for the company in a research report on Monday. The Goldman Sachs Group upgraded shares of Ryan Specialty from a "neutral" rating to a "buy" rating and upped their price target for the company from $74.00 to $81.00 in a research report on Tuesday, May 13th. Wells Fargo & Company cut their price target on shares of Ryan Specialty from $65.00 to $63.00 and set an "equal weight" rating for the company in a research report on Thursday. Finally, Morgan Stanley upped their price target on shares of Ryan Specialty from $78.00 to $80.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $75.00.

Ryan Specialty Trading Down 1.2%

Shares of Ryan Specialty stock traded down $0.80 during trading on Friday, reaching $63.84. 601,707 shares of the stock were exchanged, compared to its average volume of 922,527. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 3.45. The stock's fifty day moving average is $68.14 and its 200 day moving average is $68.11. The firm has a market cap of $16.75 billion, a price-to-earnings ratio of 35.32, a price-to-earnings-growth ratio of 1.72 and a beta of 0.66. Ryan Specialty Holdings Inc. has a 1 year low of $55.95 and a 1 year high of $77.16.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.39 earnings per share for the quarter, hitting analysts' consensus estimates of $0.39. Ryan Specialty had a net margin of 6.97% and a return on equity of 47.70%. The company had revenue of $690.17 million during the quarter, compared to analyst estimates of $680.80 million. During the same period in the prior year, the business posted $0.35 earnings per share. Ryan Specialty's revenue for the quarter was up 25.0% on a year-over-year basis. As a group, equities research 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. Stockholders of record on Tuesday, May 13th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Tuesday, May 13th. Ryan Specialty's dividend payout ratio is currently 141.18%.

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.