Versor Investments LP Cuts Stock Holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Versor Investments LP trimmed its holdings in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 61.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,341 shares of the company’s stock after selling 6,870 shares during the period. Versor Investments LP’s holdings in Ryan Specialty were worth $288,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RYAN. Janney Montgomery Scott LLC boosted its holdings in shares of Ryan Specialty by 57.3% during the first quarter. Janney Montgomery Scott LLC now owns 12,136 shares of the company’s stock worth $674,000 after purchasing an additional 4,421 shares during the period. Swiss National Bank boosted its holdings in shares of Ryan Specialty by 1.7% during the first quarter. Swiss National Bank now owns 198,400 shares of the company’s stock worth $11,011,000 after purchasing an additional 3,300 shares during the period. Nicolet Advisory Services LLC purchased a new stake in shares of Ryan Specialty during the first quarter worth about $412,000. Champlain Investment Partners LLC boosted its holdings in shares of Ryan Specialty by 28.0% during 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 during the period. Finally, Bessemer Group Inc. boosted its holdings in shares of Ryan Specialty by 33.9% during the first quarter. Bessemer Group Inc. now owns 1,925,864 shares of the company’s stock worth $106,886,000 after purchasing an additional 488,067 shares during the period. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RYAN shares. Bank of America increased their price target 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. JPMorgan Chase & Co. increased their price target on shares of Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Barclays started coverage on shares of Ryan Specialty in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $76.00 price target for the company. UBS Group increased their price target on shares of Ryan Specialty from $67.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Finally, Wells Fargo & Company increased their price target 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.33.

Insider Buying and Selling

In other news, EVP Mark Stephen Katz sold 14,790 shares of Ryan Specialty stock in a transaction 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 transaction, the executive vice president now owns 12,386 shares in the company, valued at $884,236.54. This trade represents a 54.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock in a transaction on 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 transaction, the director now owns 19,251 shares in the company, valued at $1,245,347.19. This represents a 64.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,193 shares of company stock worth $6,208,493. 11.10% of the stock is owned by insiders.

Ryan Specialty Trading Up 0.0 %

NYSE:RYAN opened at $70.94 on Friday. The company’s 50 day moving average price is $68.28 and its 200-day moving average price is $61.82. Ryan Specialty Holdings, Inc. has a 52 week low of $41.49 and a 52 week high of $73.10. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. The stock has a market cap of $18.58 billion, a price-to-earnings ratio of 92.13, a PEG ratio of 1.63 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last posted its quarterly 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 firm had revenue of $604.69 million for the quarter, compared to analysts’ expectations of $602.04 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, equities research analysts forecast that Ryan Specialty Holdings, Inc. will post 1.8 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Tuesday, November 12th. Ryan Specialty’s dividend payout ratio is currently 57.14%.

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.