Public Employees Retirement System of Ohio Cuts Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Public Employees Retirement System of Ohio lowered its holdings in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 4.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,160 shares of the company’s stock after selling 1,851 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Ryan Specialty were worth $2,467,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Hollencrest Capital Management acquired a new position in shares of Ryan Specialty during the 3rd quarter worth approximately $25,000. Assetmark Inc. acquired a new position in Ryan Specialty during the third quarter worth $34,000. Crewe Advisors LLC purchased a new position in Ryan Specialty during the second quarter valued at $39,000. Quarry LP grew its position in shares of Ryan Specialty by 109.3% in the third quarter. Quarry LP now owns 808 shares of the company’s stock valued at $54,000 after purchasing an additional 422 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Ryan Specialty by 106.4% during the third quarter. GAMMA Investing LLC now owns 1,249 shares of the company’s stock worth $83,000 after purchasing an additional 644 shares in the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Bank of America raised their price target on shares of Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Morgan Stanley started coverage on Ryan Specialty in a research note on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price target on the stock. 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 note on Thursday, October 10th. Barclays lifted their target price on shares of Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Finally, The Goldman Sachs Group increased their target price on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Ryan Specialty currently has a consensus rating of “Hold” and a consensus price target of $73.50.

Ryan Specialty Price Performance

Shares of RYAN stock opened at $65.44 on Wednesday. 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 company has a market capitalization of $17.13 billion, a PE ratio of 84.99, a price-to-earnings-growth ratio of 1.52 and a beta of 0.67. The firm’s 50-day moving average is $70.69 and its two-hundred day moving average is $64.71. Ryan Specialty Holdings, Inc. has a 12 month low of $41.57 and a 12 month high of $75.97.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. The firm had revenue of $604.69 million for the quarter, compared to analyst estimates of $602.04 million. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 EPS. Analysts predict that Ryan Specialty Holdings, Inc. will post 1.82 earnings per share for the current year.

Ryan Specialty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Tuesday, November 12th. Ryan Specialty’s dividend payout ratio is presently 57.14%.

Insider Buying and Selling

In other news, Director Nicholas Dominic Cortezi sold 35,000 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 65,100 shares in the company, valued at $4,387,089. This trade represents a 34.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David P. Bolger sold 7,055 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were 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 in the company, valued at $5,539,201.12. This represents a 8.28 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,845 shares of company stock valued at $6,249,417. 11.10% of the stock is currently owned by insiders.

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.