Sanctuary Advisors LLC Purchases 1,651 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Sanctuary Advisors LLC grew its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 11.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,502 shares of the company’s stock after purchasing an additional 1,651 shares during the quarter. Sanctuary Advisors LLC’s holdings in Ryan Specialty were worth $1,140,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Hollencrest Capital Management acquired a new position in Ryan Specialty during the 3rd quarter valued at approximately $25,000. Assetmark Inc. purchased a new position in Ryan Specialty in the 3rd quarter worth $34,000. Crewe Advisors LLC acquired a new stake in Ryan Specialty during the 2nd quarter worth about $39,000. Quarry LP lifted its position in Ryan Specialty by 109.3% during the 3rd quarter. Quarry LP now owns 808 shares of the company’s stock worth $54,000 after acquiring an additional 422 shares during the period. Finally, GAMMA Investing LLC grew its stake in Ryan Specialty by 106.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,249 shares of the company’s stock valued at $83,000 after purchasing an additional 644 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RYAN has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price 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. Bank of America increased their price objective on shares of Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” 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 boosted their target price for the company from $65.00 to $75.00 in a research report on Tuesday, September 24th. The Goldman Sachs Group increased their price target on Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley assumed coverage on Ryan Specialty in a report on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $73.50.

Ryan Specialty Stock Performance

RYAN opened at $64.01 on Friday. The company has a market cap of $16.76 billion, a price-to-earnings ratio of 83.13, a PEG ratio of 1.52 and a beta of 0.67. The firm’s fifty day simple moving average is $70.23 and its two-hundred day simple moving average is $64.75. 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 $41.57 and a 52-week high of $75.97.

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. The business had revenue of $604.69 million during the quarter, compared to analysts’ expectations of $602.04 million. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The business’s revenue was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Equities analysts anticipate that Ryan Specialty Holdings, Inc. will post 1.82 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a $0.11 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.44 dividend on an annualized basis and a yield of 0.69%. Ryan Specialty’s payout ratio is 57.14%.

Insiders Place Their Bets

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $67.39, for a total transaction of $2,358,650.00. Following the completion of the sale, the director now directly owns 65,100 shares in the company, valued at $4,387,089. This trade represents a 34.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Stephen Katz sold 14,790 shares of the business’s stock in a transaction that occurred on 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 directly owns 12,386 shares in the company, valued at $884,236.54. This trade represents a 54.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 91,845 shares of company stock valued at $6,249,417 in the last ninety days. 11.10% of the stock is currently owned by corporate 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.