AXQ Capital LP Sells 3,994 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

AXQ Capital LP lowered its holdings in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 26.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 11,098 shares of the company’s stock after selling 3,994 shares during the period. AXQ Capital LP’s holdings in Ryan Specialty were worth $712,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. State Street Corp increased its position in Ryan Specialty by 1.5% during the 3rd quarter. State Street Corp now owns 3,273,093 shares of the company’s stock valued at $217,301,000 after purchasing an additional 49,198 shares during the period. Janus Henderson Group PLC raised its stake in Ryan Specialty by 0.4% during the third quarter. Janus Henderson Group PLC now owns 3,148,916 shares of the company’s stock worth $209,058,000 after buying an additional 13,986 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Ryan Specialty by 115.2% in the fourth quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company’s stock valued at $117,619,000 after buying an additional 981,505 shares during the period. Barclays PLC boosted its position in Ryan Specialty by 1.1% during 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 last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Ryan Specialty during the 4th quarter worth about $94,484,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Ryan Specialty Stock Performance

Shares of Ryan Specialty stock opened at $71.13 on Friday. The company has a market cap of $18.63 billion, a PE ratio of 103.09, a price-to-earnings-growth ratio of 1.19 and a beta of 0.71. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. Ryan Specialty Holdings, Inc. has a 52 week low of $48.48 and a 52 week high of $75.97. The business has a 50 day moving average price of $68.11 and a 200-day moving average price of $67.98.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.02). Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The company had revenue of $663.53 million for the quarter, compared to the consensus estimate of $658.80 million. Equities analysts anticipate that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, March 4th. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 0.67%. Ryan Specialty’s payout ratio is 69.57%.

Insiders Place Their Bets

In related news, EVP Brendan Martin Mulshine sold 30,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $69.30, for a total transaction of $2,079,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 10,485 shares of Ryan Specialty stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $65.12, for a total transaction of $682,783.20. Following the completion of the sale, the director now directly owns 11,109 shares in the company, valued at approximately $723,418.08. This represents a 48.56 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 241,360 shares of company stock valued at $16,006,428. Corporate insiders own 11.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on RYAN shares. UBS Group upped their target price on Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. 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. Wells Fargo & Company boosted their target price on shares of Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Friday, February 21st. Royal Bank of Canada reduced their price target on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $75.27.

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.