Connor Clark & Lunn Investment Management Ltd. Has $1.71 Million Stock Holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 31.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,713 shares of the company’s stock after selling 12,067 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ryan Specialty were worth $1,707,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Quadrature Capital Ltd lifted its stake in Ryan Specialty by 73.5% during the 1st quarter. Quadrature Capital Ltd now owns 8,449 shares of the company’s stock valued at $469,000 after acquiring an additional 3,580 shares in the last quarter. PEAK6 Investments LLC purchased a new position in Ryan Specialty during the first quarter worth about $1,409,000. Bayesian Capital Management LP bought a new stake in Ryan Specialty in the 1st quarter worth about $618,000. GAMMA Investing LLC lifted its position in shares of Ryan Specialty by 96.4% during the 2nd 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. Finally, Anderson Hoagland & Co. lifted its position in shares of Ryan Specialty by 1.2% during the 2nd quarter. Anderson Hoagland & Co. now owns 51,615 shares of the company’s stock worth $2,909,000 after buying an additional 624 shares in the last quarter. Institutional investors own 84.82% of the company’s stock.

Analysts Set New Price Targets

RYAN has been the subject of a number of recent analyst reports. Bank of America upped 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. BMO Capital Markets raised shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $65.00 to $75.00 in a research report on Tuesday, September 24th. Wells Fargo & Company increased their target price on shares of Ryan Specialty from $63.00 to $70.00 and gave the company 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 stock an “overweight” rating in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. increased their price objective on Ryan Specialty from $54.00 to $56.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Ryan Specialty currently has a consensus rating of “Hold” and a consensus target price of $71.67.

Ryan Specialty Stock Performance

Shares of RYAN opened at $74.59 on Tuesday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $19.53 billion, a price-to-earnings ratio of 96.87, a price-to-earnings-growth ratio of 1.67 and a beta of 0.62. Ryan Specialty Holdings, Inc. has a 52-week low of $41.49 and a 52-week high of $75.39. The stock’s 50-day simple moving average is $69.27 and its 200 day simple moving average is $62.80.

Ryan Specialty (NYSE:RYAN) last posted its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. The business had revenue of $604.69 million for 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%. Ryan Specialty’s revenue was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 EPS. Research analysts forecast that Ryan Specialty Holdings, Inc. will post 1.8 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.59%. Ryan Specialty’s dividend payout ratio (DPR) is presently 57.14%.

Insider Transactions at Ryan Specialty

In related news, EVP Mark Stephen Katz sold 14,790 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 12,386 shares of the company’s stock, valued at approximately $884,236.54. This trade represents a 54.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Nicholas Dominic Cortezi sold 5,375 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $64.73, for a total value of $347,923.75. Following the completion of the sale, the director now owns 2,685 shares of the company’s stock, valued at $173,800.05. The trade was a 66.69 % decrease in their position. The disclosure for this sale can be found here. 11.10% of the stock is owned by insiders.

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.