Renaissance Technologies LLC Has $8.28 Million Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Renaissance Technologies LLC trimmed its holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 7.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142,900 shares of the company’s stock after selling 11,400 shares during the quarter. Renaissance Technologies LLC owned about 0.05% of Ryan Specialty worth $8,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in RYAN. Champlain Investment Partners LLC increased its holdings in Ryan Specialty by 28.0% in the first quarter. Champlain Investment Partners LLC now owns 4,937,332 shares of the company’s stock worth $274,022,000 after purchasing an additional 1,079,505 shares in the last quarter. Norden Group LLC increased its stake in shares of Ryan Specialty by 2,138.1% in the 1st quarter. Norden Group LLC now owns 778,848 shares of the company’s stock valued at $43,226,000 after acquiring an additional 744,049 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Ryan Specialty by 33.9% during the 1st quarter. Bessemer Group Inc. now owns 1,925,864 shares of the company’s stock valued at $106,886,000 after acquiring an additional 488,067 shares during the period. Bank of New York Mellon Corp boosted its stake 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 acquiring an additional 476,126 shares in the last quarter. Finally, Norges Bank acquired a new stake in Ryan Specialty in the fourth quarter worth $16,964,000. Institutional investors own 84.82% of the company’s stock.

Insider Transactions at Ryan Specialty

In related news, President Timothy William Turner sold 2,000,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the completion of the sale, the president now directly owns 8,095 shares of the company’s stock, valued at $505,532.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, President Timothy William Turner sold 2,000,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $62.45, for a total value of $124,900,000.00. Following the transaction, the president now directly owns 8,095 shares of the company’s stock, valued at approximately $505,532.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $64.69, for a total transaction of $2,264,150.00. Following the sale, the director now owns 19,251 shares of the company’s stock, valued at approximately $1,245,347.19. The disclosure for this sale can be found here. Insiders have sold 2,107,136 shares of company stock worth $131,860,032 in the last 90 days. Insiders own 11.10% of the company’s stock.

Ryan Specialty Stock Up 5.3 %

Shares of NYSE:RYAN opened at $67.50 on Wednesday. The stock has a market cap of $17.58 billion, a price-to-earnings ratio of 127.36, a PEG ratio of 1.53 and a beta of 0.62. The business’s 50 day moving average is $63.36 and its 200 day moving average is $57.43. Ryan Specialty Holdings, Inc. has a 12-month low of $41.49 and a 12-month high of $69.03. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.81.

Ryan Specialty (NYSE:RYAN) last posted its earnings results on Thursday, August 1st. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. The firm had revenue of $695.40 million during the quarter, compared to analyst estimates of $695.56 million. Ryan Specialty had a net margin of 10.21% and a return on equity of 48.08%. The business’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 EPS. On average, sell-side analysts forecast that Ryan Specialty Holdings, Inc. will post 1.81 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a $0.11 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $0.44 annualized dividend and a yield of 0.65%. Ryan Specialty’s dividend payout ratio (DPR) is 83.02%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RYAN shares. Citigroup upped their price objective on shares of Ryan Specialty from $56.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $62.00 price target on shares of Ryan Specialty in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. raised their price objective on Ryan Specialty from $54.00 to $56.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. BMO Capital Markets upgraded 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 report on Tuesday. Finally, The Goldman Sachs Group increased their target price on Ryan Specialty from $58.00 to $64.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Ryan Specialty currently has an average rating of “Hold” and an average price target of $66.78.

Ryan Specialty Company Profile

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.