Mutual of America Capital Management LLC Sells 3,316 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Mutual of America Capital Management LLC cut its position in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 5.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,289 shares of the company’s stock after selling 3,316 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Ryan Specialty were worth $3,671,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Quadrature Capital Ltd increased its position in Ryan Specialty by 73.5% during the 1st quarter. Quadrature Capital Ltd now owns 8,449 shares of the company’s stock valued at $469,000 after buying an additional 3,580 shares in the last quarter. PEAK6 Investments LLC purchased a new stake in shares of Ryan Specialty during the first quarter valued at $1,409,000. Bayesian Capital Management LP acquired a new position in shares of Ryan Specialty in the 1st quarter valued at $618,000. 2Xideas AG purchased a new position in Ryan Specialty in the 1st quarter worth $19,765,000. Finally, GAMMA Investing LLC raised its stake in shares of Ryan Specialty by 96.4% in the second quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock worth $35,000 after purchasing an additional 297 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Ryan Specialty Stock Performance

RYAN opened at $73.52 on Friday. The firm has a market capitalization of $19.25 billion, a PE ratio of 95.48, a PEG ratio of 1.60 and a beta of 0.62. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. Ryan Specialty Holdings, Inc. has a twelve month low of $41.49 and a twelve month high of $74.53. The firm’s 50-day moving average price is $69.06 and its 200 day moving average price is $62.51.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. The firm had revenue of $604.69 million during the quarter, compared to analysts’ expectations of $602.04 million. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 earnings per share. As a group, sell-side analysts expect that Ryan Specialty Holdings, Inc. will post 1.8 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.11 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.60%. Ryan Specialty’s dividend payout ratio is currently 57.14%.

Analysts Set New Price Targets

Several brokerages recently weighed in on RYAN. UBS Group increased their price target on shares of Ryan Specialty from $67.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. raised their target price on Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group boosted their target price on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. BMO Capital Markets upgraded shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $65.00 to $75.00 in a research report on Tuesday, September 24th. Finally, Barclays boosted their price objective on Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $71.67.

Insider Activity

In other Ryan Specialty news, EVP Mark Stephen Katz sold 14,790 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the transaction, the executive vice president now directly owns 12,386 shares in the company, valued at $884,236.54. This represents a 54.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nicholas Dominic Cortezi sold 5,375 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $64.73, for a total value of $347,923.75. Following the completion of the sale, the director now owns 2,685 shares in the company, valued at $173,800.05. This represents a 66.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,490 shares of company stock valued at $1,553,977. 11.10% of the stock is currently owned by company insiders.

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.