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The sales were conducted through two family trusts—The Louise M. Cortezi Family Trust and The Louise M. Cortezi Family Resource Trust. Following these transactions, Cortezi retains ownership of 38,649 shares through the former trust and 1,309 shares through the latter.These transactions, disclosed in the Form 4 filing, reflect Cortezi’s ongoing management of his investment portfolio in Ryan Specialty Holdings, a company specializing in insurance services. While trading at a relatively high P/E ratio of 76.69, InvestingPro data suggests the stock is slightly undervalued based on its Fair Value analysis. Subscribers can access 8 additional ProTips and comprehensive financial metrics in the Pro Research Report. While trading at a relatively high P/E ratio of 76.69, InvestingPro data suggests the stock is slightly undervalued based on its Fair Value analysis. Subscribers can access 8 additional ProTips and comprehensive financial metrics in the Pro Research Report.
The sales were conducted through two family trusts—The Louise M. Cortezi Family Trust and The Louise M. Cortezi Family Resource Trust. Following these transactions, Cortezi retains ownership of 38,649 shares through the former trust and 1,309 shares through the latter.
These transactions, disclosed in the Form 4 filing, reflect Cortezi’s ongoing management of his investment portfolio in Ryan Specialty Holdings, a company specializing in insurance services.
In other recent news, Ryan Specialty Group has entered into an agreement to acquire Velocity Risk Underwriters, a deal expected to close early 2025. The estimated upfront cash consideration for the acquisition is $525 million. In the past year, Velocity reported operating revenue of approximately $81 million. Ryan Specialty has also issued an additional $600 million in 5.875% Senior Secured Notes due 2032, a move intended to fund potential future acquisitions and investments.
The company reported a significant increase in third-quarter revenue and earnings, with total revenue rising by 20.5% to $605 million and adjusted earnings increasing by 29.4% to $190 million. Morgan Stanley (NYSE:MS) initiated coverage on Ryan Specialty with an Overweight rating, based on the ongoing shift towards the Excess & Surplus markets.
These are just a few of the recent developments at Ryan Specialty. The company continues to focus on strategic growth and is well-positioned for future expansion, with a robust gross profit margin of 37.6% and analysts forecasting continued net income growth.
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