Sumitomo Mitsui Trust Group Inc. Boosts Stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Sumitomo Mitsui Trust Group Inc. increased its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 0.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,235,114 shares of the company’s stock after buying an additional 4,907 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Ryan Specialty were worth $79,245,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RYAN. State Street Corp grew its stake in shares of Ryan Specialty by 1.5% during the 3rd quarter. State Street Corp now owns 3,273,093 shares of the company’s stock worth $217,301,000 after acquiring an additional 49,198 shares during the period. Janus Henderson Group PLC raised its position in shares of Ryan Specialty by 0.4% in the third quarter. Janus Henderson Group PLC now owns 3,148,916 shares of the company’s stock worth $209,058,000 after buying an additional 13,986 shares in the last quarter. Barclays PLC boosted its position in shares of Ryan Specialty by 1.1% during the 3rd quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock valued at $108,994,000 after acquiring an additional 17,267 shares during the last quarter. Eagle Asset Management Inc. lifted its position in Ryan Specialty by 32.1% during the third quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company’s stock valued at $98,555,000 after purchasing an additional 335,180 shares during the last quarter. Finally, Jennison Associates LLC grew its position in Ryan Specialty by 60.2% in the third quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock worth $68,054,000 after acquiring an additional 385,366 shares in the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on RYAN shares. Morgan Stanley began coverage on Ryan Specialty in a research note on Thursday, December 5th. They issued an “overweight” rating and a $90.00 target price for the company. Keefe, Bruyette & Woods lowered their price target on Ryan Specialty from $79.00 to $77.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company reduced their price target on shares of Ryan Specialty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Finally, Barclays increased their price objective on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $74.40.

Ryan Specialty Stock Performance

Shares of RYAN opened at $68.24 on Monday. Ryan Specialty Holdings, Inc. has a 12 month low of $42.68 and a 12 month high of $75.97. The business’s fifty day simple moving average is $66.12 and its two-hundred day simple moving average is $66.93. The company has a market cap of $17.87 billion, a price-to-earnings ratio of 88.63, a P/E/G ratio of 1.19 and a beta of 0.72. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 35,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was 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 owns 65,100 shares of the company’s stock, valued at approximately $4,387,089. The trade was a 34.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David P. Bolger sold 7,055 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $70.88, for a total transaction of $500,058.40. Following the completion of the sale, the director now directly owns 78,149 shares of the company’s stock, valued at $5,539,201.12. This represents a 8.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 323,506 shares of company stock worth $21,407,851. Company insiders own 11.10% of the company’s stock.

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.