Geode Capital Management LLC Sells 142,723 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Geode Capital Management LLC cut its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 7.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,752,170 shares of the company’s stock after selling 142,723 shares during the quarter. Geode Capital Management LLC’s holdings in Ryan Specialty were worth $116,357,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Xponance Inc. raised its holdings in Ryan Specialty by 67.2% in 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 during the period. Jennison Associates LLC increased its position in shares of Ryan Specialty by 60.2% in the 3rd quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock valued at $68,054,000 after buying an additional 385,366 shares in the last quarter. Geneva Partners LLC acquired a new stake in Ryan Specialty during the 3rd quarter worth $2,537,000. Susquehanna Fundamental Investments LLC lifted its holdings in Ryan Specialty by 2,354.0% during the second quarter. Susquehanna Fundamental Investments LLC now owns 100,614 shares of the company’s stock worth $5,827,000 after acquiring an additional 96,514 shares in the last quarter. Finally, Barclays PLC grew its stake in Ryan Specialty by 1.1% in the third quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock valued at $108,994,000 after acquiring an additional 17,267 shares during the period. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, EVP Mark Stephen Katz sold 14,790 shares of Ryan Specialty stock in a transaction 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 directly owns 12,386 shares of the company’s stock, valued at $884,236.54. The trade was a 54.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $67.39, for a total transaction of $2,358,650.00. Following the completion of the transaction, the director now directly owns 65,100 shares in the company, valued at $4,387,089. The trade was a 34.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 91,845 shares of company stock worth $6,249,417 over the last 90 days. Company insiders own 11.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on RYAN. Wells Fargo & Company raised their price target on 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 lifted their price target on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Morgan Stanley initiated coverage on shares of Ryan Specialty in a research report on Thursday, December 5th. They set an “overweight” rating and a $90.00 price objective for the company. BMO Capital Markets raised shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $65.00 to $75.00 in a research report on Tuesday, September 24th. Finally, Bank of America increased their target price on Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $73.50.

Ryan Specialty Trading Down 1.5 %

Shares of Ryan Specialty stock opened at $65.44 on Wednesday. Ryan Specialty Holdings, Inc. has a 12-month low of $41.57 and a 12-month high of $75.97. 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 business’s 50 day moving average is $70.69 and its 200-day moving average is $64.71. The stock has a market cap of $17.13 billion, a P/E ratio of 84.99, a P/E/G ratio of 1.52 and a beta of 0.67.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, meeting analysts’ consensus estimates 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 net margin of 10.31% and a return on equity of 47.90%. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 earnings per share. Equities research analysts predict that Ryan Specialty Holdings, Inc. will post 1.82 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Tuesday, November 12th. Ryan Specialty’s dividend payout ratio (DPR) is presently 57.14%.

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.