Assetmark Inc. Purchases Shares of 506 Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Assetmark Inc. acquired a new stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 506 shares of the company’s stock, valued at approximately $34,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RYAN. Hollencrest Capital Management bought a new position in Ryan Specialty in the 3rd quarter worth $25,000. GAMMA Investing LLC raised its stake in Ryan Specialty by 96.4% in the second quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock worth $35,000 after buying an additional 297 shares in the last quarter. Crewe Advisors LLC purchased a new stake in Ryan Specialty in the second quarter worth about $39,000. Rothschild Investment LLC bought a new stake in Ryan Specialty during the 2nd quarter valued at approximately $87,000. Finally, Signaturefd LLC raised its position in shares of Ryan Specialty by 12.3% in the 3rd quarter. Signaturefd LLC now owns 1,347 shares of the company’s stock worth $89,000 after acquiring an additional 148 shares in the last quarter. 84.82% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Nicholas Dominic Cortezi sold 1,703 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $64.66, for a total value of $110,115.98. Following the transaction, the director now owns 3,800 shares of the company’s stock, valued at $245,708. This trade represents a 30.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Stephen Katz sold 14,790 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the sale, the executive vice president now owns 12,386 shares in the company, valued at approximately $884,236.54. The trade was a 54.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,193 shares of company stock valued at $1,664,093 in the last ninety days. 11.10% of the stock is currently owned by company insiders.

Ryan Specialty Trading Down 0.4 %

Shares of NYSE:RYAN opened at $70.37 on Wednesday. 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 Holdings, Inc. has a 1 year low of $41.49 and a 1 year high of $73.10. The company has a market cap of $18.43 billion, a P/E ratio of 91.39, a PEG ratio of 1.61 and a beta of 0.62. The stock’s fifty day moving average price is $68.55 and its 200-day moving average price is $62.23.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, hitting analysts’ consensus estimates of $0.41. The firm had revenue of $604.69 million during the quarter, compared to analyst estimates 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 period in the previous year, the business posted $0.32 earnings per share. Sell-side analysts expect that Ryan Specialty Holdings, Inc. will post 1.8 earnings per share for the current year.

Ryan Specialty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.44 annualized dividend and a dividend yield of 0.63%. Ryan Specialty’s payout ratio is 57.14%.

Analyst Ratings Changes

Several research firms recently weighed in on RYAN. Wells Fargo & Company lifted their price target on Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. upped their target price on shares of Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group boosted their price objective on shares of Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Bank of America upped their price objective on shares of Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Citigroup lifted their target price 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. 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 company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $70.33.

Ryan Specialty 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.