Ryan Specialty Holdings, Inc. (NYSE:RYAN) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 5.4% during the fourth quarter, HoldingsChannel reports. The firm owned 189,600 shares of the company’s stock after selling 10,800 shares during the quarter. Renaissance Technologies LLC’s holdings in Ryan Specialty were worth $12,165,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Rakuten Securities Inc. acquired a new position in Ryan Specialty in the 4th quarter valued at $27,000. Principal Securities Inc. boosted its holdings in shares of Ryan Specialty by 164.7% in the fourth quarter. Principal Securities Inc. now owns 667 shares of the company’s stock valued at $43,000 after acquiring an additional 415 shares in the last quarter. Mizuho Bank Ltd. purchased a new stake in shares of Ryan Specialty in the fourth quarter valued at about $49,000. Headlands Technologies LLC increased its stake in shares of Ryan Specialty by 2,644.8% during the fourth quarter. Headlands Technologies LLC now owns 796 shares of the company’s stock worth $51,000 after acquiring an additional 767 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in Ryan Specialty during the fourth quarter worth about $54,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Insider Buying and Selling

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 35,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $67.15, for a total value of $2,350,250.00. Following the sale, the director now directly owns 25,809 shares of the company’s stock, valued at approximately $1,733,074.35. This trade represents a 57.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brendan Martin Mulshine sold 30,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $69.30, for a total transaction of $2,079,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 176,894 shares of company stock worth $11,779,720. 11.10% of the stock is owned by insiders.

Analysts Set New Price Targets

RYAN has been the topic of several recent analyst reports. TD Cowen assumed coverage on Ryan Specialty in a research report on Thursday, April 10th. They set a “buy” rating and a $89.00 target price on the stock. UBS Group upped their price objective on Ryan Specialty from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Barclays reduced their target price on Ryan Specialty from $88.00 to $83.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Royal Bank of Canada lowered their price target on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a research note on Friday, February 21st. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $75.67.

Ryan Specialty Stock Performance

NYSE RYAN opened at $73.08 on Wednesday. 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 fifty-two week low of $48.48 and a fifty-two week high of $77.16. The business has a fifty day moving average of $70.25 and a 200-day moving average of $68.97. The stock has a market cap of $19.14 billion, a price-to-earnings ratio of 105.91, a price-to-earnings-growth ratio of 1.19 and a beta of 0.66.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Thursday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The firm had revenue of $663.53 million during the quarter, compared to analysts’ expectations of $658.80 million. As a group, analysts predict that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.48 dividend on an annualized basis and a yield of 0.66%. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.11. Ryan Specialty’s dividend payout ratio (DPR) is 69.57%.

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.