Ryan Specialty Holdings, Inc. (NYSE:RYAN) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 0.4% during the third quarter, Holdings Channel.com reports. The fund owned 197,600 shares of the company’s stock after selling 800 shares during the period. Swiss National Bank’s holdings in Ryan Specialty were worth $13,119,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RYAN. Blair William & Co. IL grew its position in shares of Ryan Specialty by 3.4% in the second quarter. Blair William & Co. IL now owns 2,866,003 shares of the company’s stock valued at $165,970,000 after purchasing an additional 94,663 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Ryan Specialty by 148.9% during the 3rd quarter. Principal Financial Group Inc. now owns 851,704 shares of the company’s stock valued at $56,545,000 after buying an additional 509,548 shares during the last quarter. Bank of New York Mellon Corp increased its position in Ryan Specialty by 132.2% during the second quarter. Bank of New York Mellon Corp now owns 836,209 shares of the company’s stock worth $48,425,000 after buying an additional 476,126 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Ryan Specialty by 22.4% in the second quarter. Federated Hermes Inc. now owns 552,742 shares of the company’s stock worth $32,009,000 after acquiring an additional 101,022 shares during the last quarter. Finally, Geneva Capital Management LLC lifted its position in shares of Ryan Specialty by 3.5% in the third quarter. Geneva Capital Management LLC now owns 516,416 shares of the company’s stock valued at $34,285,000 after acquiring an additional 17,442 shares in the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Nicholas Dominic Cortezi sold 2,325 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $64.60, for a total value of $150,195.00. Following the transaction, the director now owns 3,463 shares in the company, valued at approximately $223,709.80. The trade was a 40.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark Stephen Katz sold 14,790 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $71.39, for a total value of $1,055,858.10. Following the sale, the executive vice president now owns 12,386 shares of the company’s stock, valued at approximately $884,236.54. This trade represents a 54.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,490 shares of company stock valued at $1,553,977. Corporate insiders own 11.10% of the company’s stock.

Ryan Specialty Stock Up 2.5 %

RYAN opened at $73.53 on Friday. Ryan Specialty Holdings, Inc. has a 1 year low of $41.49 and a 1 year high of $74.53. The firm has a 50 day moving average price of $69.06 and a 200 day moving average price of $62.58. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $19.25 billion, a PE ratio of 95.49, a price-to-earnings-growth ratio of 1.63 and a beta of 0.62.

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

Ryan Specialty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors 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 annualized dividend and a dividend yield of 0.60%. Ryan Specialty’s payout ratio is currently 57.14%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RYAN. The Goldman Sachs Group upped their target price on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised their target price on shares of Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Barclays boosted their price target on Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday. BMO Capital Markets upgraded Ryan Specialty from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $65.00 to $75.00 in a report on Tuesday, September 24th. Finally, Bank of America upped their target price on Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $71.67.

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.