Sumitomo Mitsui Trust Group Inc. Trims Stock Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Sumitomo Mitsui Trust Group Inc. decreased its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 15.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,230,207 shares of the company’s stock after selling 230,057 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.47% of Ryan Specialty worth $81,673,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Securian Asset Management Inc. purchased a new stake in shares of Ryan Specialty during the 2nd quarter worth about $474,000. Xponance Inc. boosted its position in Ryan Specialty by 67.2% during the second quarter. Xponance Inc. now owns 20,686 shares of the company’s stock worth $1,198,000 after purchasing an additional 8,312 shares in the last quarter. Geneva Partners LLC purchased a new stake in shares of Ryan Specialty in the third quarter valued at approximately $2,537,000. Susquehanna Fundamental Investments LLC raised its stake in shares of Ryan Specialty by 2,354.0% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 100,614 shares of the company’s stock worth $5,827,000 after buying an additional 96,514 shares during the period. Finally, Retirement Systems of Alabama purchased a new position in shares of Ryan Specialty during the 2nd quarter valued at approximately $7,316,000. 84.82% of the stock is owned by institutional investors and hedge funds.

Ryan Specialty Stock Down 1.2 %

NYSE RYAN opened at $70.88 on Friday. The business’s fifty day simple moving average is $68.14 and its 200-day simple moving average is $61.66. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. The firm has a market cap of $18.56 billion, a PE ratio of 92.05, a P/E/G ratio of 1.63 and a beta of 0.62. Ryan Specialty Holdings, Inc. has a 52 week low of $41.49 and a 52 week high of $73.10.

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

Ryan Specialty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Tuesday, November 12th. Ryan Specialty’s dividend payout ratio (DPR) is presently 57.14%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RYAN. Wells Fargo & Company upped their price objective on shares of Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Barclays initiated coverage on shares of Ryan Specialty in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $76.00 price target on the stock. JPMorgan Chase & Co. increased their target price on Ryan Specialty from $54.00 to $56.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group lifted their price target on Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, UBS Group increased their price objective on Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $70.33.

Insider Transactions at Ryan Specialty

In related news, EVP Mark Stephen Katz sold 14,790 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $65.15, for a total transaction of $2,280,250.00. Following the completion of the sale, the director now owns 9,115 shares of the company’s stock, valued at $593,842.25. This trade represents a 79.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 94,193 shares of company stock worth $6,208,493. 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.