Teachers Retirement System of The State of Kentucky Buys 10,460 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Teachers Retirement System of The State of Kentucky lifted its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 51.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,760 shares of the company’s stock after purchasing an additional 10,460 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Ryan Specialty were worth $2,042,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Xponance Inc. raised its stake in shares of Ryan Specialty by 67.2% during the 2nd quarter. Xponance Inc. now owns 20,686 shares of the company’s stock valued at $1,198,000 after purchasing an additional 8,312 shares during the period. Geneva Partners LLC bought a new position in Ryan Specialty in the 3rd quarter worth about $2,537,000. Jennison Associates LLC increased its stake in 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 acquiring an additional 385,366 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its stake in Ryan Specialty by 2,354.0% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 100,614 shares of the company’s stock worth $5,827,000 after acquiring an additional 96,514 shares during the last quarter. Finally, Barclays PLC increased its stake in Ryan Specialty by 1.1% in the 3rd quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock worth $108,994,000 after acquiring an additional 17,267 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors.

Insider Activity at Ryan Specialty

In related news, Director David P. Bolger sold 7,055 shares of Ryan Specialty stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $70.88, for a total value of $500,058.40. Following the completion of the sale, the director now owns 78,149 shares of the company’s stock, valued at $5,539,201.12. The trade was a 8.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Stephen Katz sold 14,790 shares of Ryan Specialty stock in a transaction on Friday, November 8th. The stock was sold at an average price of $71.39, for a total value of $1,055,858.10. Following the completion of the sale, the executive vice president now directly owns 12,386 shares of the company’s stock, valued at $884,236.54. The trade was a 54.42 % decrease in their position. The disclosure for this sale can be found here. 11.10% of the stock is owned by corporate insiders.

Ryan Specialty Trading Down 1.7 %

NYSE RYAN opened at $66.45 on Tuesday. Ryan Specialty Holdings, Inc. has a fifty-two week low of $41.57 and a fifty-two week high of $75.97. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a 50 day simple moving average of $70.80 and a two-hundred day simple moving average of $64.64. The stock has a market cap of $17.40 billion, a P/E ratio of 86.30, a price-to-earnings-growth ratio of 1.52 and a beta of 0.67.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, hitting the consensus estimate of $0.41. The business had revenue of $604.69 million during the quarter, compared to analysts’ expectations of $602.04 million. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The business’s revenue was up 20.5% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. On average, analysts forecast that Ryan Specialty Holdings, Inc. will post 1.82 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Tuesday, November 12th. Ryan Specialty’s dividend payout ratio (DPR) is presently 57.14%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RYAN. Bank of America upped their target price on Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays upped their target price on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. 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 on the stock. The Goldman Sachs Group upped their target price on Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company increased their price objective on Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Ryan Specialty currently has an average rating of “Hold” and a consensus target price of $73.50.

Ryan Specialty Company 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.