Los Angeles Capital Management LLC Sells 293,354 Shares of Ryan Specialty Holdings Inc. $RYAN

Los Angeles Capital Management LLC trimmed its holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 95.5% in the second quarter, HoldingsChannel reports. The fund owned 13,951 shares of the company’s stock after selling 293,354 shares during the period. Los Angeles Capital Management LLC’s holdings in Ryan Specialty were worth $949,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Ryan Specialty by 281.6% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company’s stock valued at $25,000 after purchasing an additional 245 shares during the last quarter. SVB Wealth LLC purchased a new stake in Ryan Specialty during the first quarter valued at about $26,000. Golden State Wealth Management LLC boosted its position in Ryan Specialty by 10,975.0% during the second quarter. Golden State Wealth Management LLC now owns 443 shares of the company’s stock valued at $30,000 after buying an additional 439 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Ryan Specialty during the second quarter valued at about $31,000. Finally, WPG Advisers LLC purchased a new position in shares of Ryan Specialty in the first quarter worth about $32,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Ryan Specialty Price Performance

RYAN opened at $56.79 on Friday. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $14.98 billion, a PE ratio of 123.46, a price-to-earnings-growth ratio of 1.61 and a beta of 0.62. The stock’s 50 day moving average price is $54.49 and its 200-day moving average price is $61.19. Ryan Specialty Holdings Inc. has a 52-week low of $50.08 and a 52-week high of $77.16.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The business had revenue of $754.58 million for the quarter, compared to analysts’ expectations of $742.35 million. Ryan Specialty had a net margin of 7.61% and a return on equity of 47.93%. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 earnings per share. On average, equities research analysts predict that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current year.

Ryan Specialty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, November 10th. Ryan Specialty’s dividend payout ratio (DPR) is currently 104.35%.

Insider Buying and Selling at Ryan Specialty

In related news, Chairman Patrick G. Ryan bought 276,634 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were purchased at an average price of $51.84 per share, with a total value of $14,340,706.56. Following the purchase, the chairman owned 13,699,959 shares of the company’s stock, valued at approximately $710,205,874.56. This trade represents a 2.06% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 52.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RYAN shares. The Goldman Sachs Group dropped their target price on Ryan Specialty from $71.00 to $63.00 and set a “buy” rating for the company in a report on Friday, October 31st. Wall Street Zen raised Ryan Specialty from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. Morgan Stanley cut their target price on shares of Ryan Specialty from $68.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. JPMorgan Chase & Co. decreased their target price on shares of Ryan Specialty from $64.00 to $63.00 and set an “underweight” rating on the stock in a research note on Thursday, October 9th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Ryan Specialty from $73.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.54.

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.