Swiss National Bank Decreases Stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Swiss National Bank reduced its position in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 197,600 shares of the company’s stock after selling 800 shares during the period. Swiss National Bank owned 0.08% of Ryan Specialty worth $13,119,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Signaturefd LLC boosted its holdings in Ryan Specialty by 12.3% during the 3rd quarter. Signaturefd LLC now owns 1,347 shares of the company’s stock valued at $89,000 after acquiring an additional 148 shares during the period. UMB Bank n.a. boosted its stake in shares of Ryan Specialty by 5.2% in the third quarter. UMB Bank n.a. now owns 5,224 shares of the company’s stock valued at $347,000 after purchasing an additional 256 shares during the period. GAMMA Investing LLC grew its holdings in shares of Ryan Specialty by 96.4% in the second quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock valued at $35,000 after purchasing an additional 297 shares in the last quarter. Hollencrest Capital Management purchased a new stake in Ryan Specialty during the 3rd quarter worth approximately $25,000. Finally, CHICAGO TRUST Co NA lifted its holdings in Ryan Specialty by 10.3% during the 3rd quarter. CHICAGO TRUST Co NA now owns 4,838 shares of the company’s stock worth $321,000 after buying an additional 450 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Insider Activity

In other news, Director Nicholas Dominic Cortezi sold 5,375 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $64.73, for a total transaction of $347,923.75. Following the transaction, the director now directly owns 2,685 shares of the company’s stock, valued at $173,800.05. This represents a 66.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Stephen Katz sold 14,790 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 12,386 shares of the company’s stock, valued at $884,236.54. This trade represents a 54.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,490 shares of company stock valued at $1,553,977. Company insiders own 11.10% of the company’s stock.

Ryan Specialty Stock Performance

Shares of Ryan Specialty stock opened at $73.53 on Friday. The firm’s fifty day simple moving average is $69.06 and its 200-day simple moving average is $62.58. Ryan Specialty Holdings, Inc. has a 12 month low of $41.49 and a 12 month high of $74.53. The stock has a market capitalization of $19.25 billion, a price-to-earnings ratio of 95.49, a PEG ratio of 1.63 and a beta of 0.62. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01.

Ryan Specialty (NYSE:RYAN) last announced 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 during the quarter, compared to analysts’ expectations of $602.04 million. During the same period in the prior year, the company earned $0.32 earnings per share. The business’s revenue was up 20.5% compared to the same quarter last year. As a group, equities analysts forecast that Ryan Specialty Holdings, Inc. will post 1.8 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.44 annualized dividend and a dividend yield of 0.60%. Ryan Specialty’s dividend payout ratio (DPR) is currently 57.14%.

Analysts Set New Price Targets

Several analysts have recently issued reports on RYAN shares. Bank of America increased their price objective on Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. UBS Group lifted 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. Wells Fargo & Company upped their target price on shares of Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. BMO Capital Markets upgraded shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $65.00 to $75.00 in a research note on Tuesday, September 24th. Finally, Barclays raised their price objective on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.