MetLife Investment Management LLC Sells 1,128 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

MetLife Investment Management LLC cut its holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,530 shares of the company’s stock after selling 1,128 shares during the quarter. MetLife Investment Management LLC’s holdings in Ryan Specialty were worth $3,819,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Principal Financial Group Inc. grew its holdings in Ryan Specialty by 148.9% in the third quarter. Principal Financial Group Inc. now owns 851,704 shares of the company’s stock worth $56,545,000 after purchasing an additional 509,548 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Ryan Specialty by 132.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 836,209 shares of the company’s stock worth $48,425,000 after purchasing an additional 476,126 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Ryan Specialty by 60.2% in the 3rd quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock worth $68,054,000 after buying an additional 385,366 shares during the last quarter. Eagle Asset Management Inc. increased its position in Ryan Specialty by 32.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company’s stock valued at $98,555,000 after buying an additional 335,180 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Ryan Specialty by 43.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 938,187 shares of the company’s stock valued at $62,286,000 after buying an additional 286,380 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors.

Ryan Specialty Stock Performance

Shares of RYAN opened at $74.07 on Tuesday. Ryan Specialty Holdings, Inc. has a one year low of $41.49 and a one year high of $75.97. The business has a fifty day moving average of $70.23 and a 200 day moving average of $63.41. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $19.39 billion, a P/E ratio of 96.61, a PEG ratio of 1.71 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.41. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The business had revenue of $604.69 million during the quarter, compared to the consensus estimate of $602.04 million. During the same period in the previous year, the company posted $0.32 EPS. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ryan Specialty Holdings, Inc. will post 1.8 EPS for the current year.

Ryan Specialty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a $0.11 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.44 annualized dividend and a yield of 0.59%. Ryan Specialty’s payout ratio is presently 57.14%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RYAN shares. Bank of America raised their price target on Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Barclays raised their price objective on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. The Goldman Sachs Group upped their target price on shares of Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Wells Fargo & Company raised their price target on shares of Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Finally, UBS Group upped their price objective on Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $71.67.

Insiders Place Their Bets

In other Ryan Specialty news, EVP Mark Stephen Katz sold 14,790 shares of the company’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 value of $1,055,858.10. Following the completion of the transaction, the executive vice president now directly owns 12,386 shares in the company, valued at $884,236.54. This represents a 54.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David P. Bolger sold 7,055 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $70.88, for a total transaction of $500,058.40. Following the sale, the director now owns 78,149 shares in the company, valued at $5,539,201.12. The trade was a 8.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.10% of the company’s stock.

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.