Ryan Specialty Holdings, Inc. (NYSE:RYAN) Shares Sold by Jennison Associates LLC

Jennison Associates LLC trimmed its position in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 993,017 shares of the company’s stock after selling 32,046 shares during the quarter. Jennison Associates LLC owned about 0.38% of Ryan Specialty worth $63,712,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. grew its stake in shares of Ryan Specialty by 107.5% during the third quarter. JPMorgan Chase & Co. now owns 459,464 shares of the company’s stock worth $30,504,000 after purchasing an additional 238,064 shares in the last quarter. Geneva Partners LLC purchased a new position in shares of Ryan Specialty during the 3rd quarter worth $2,537,000. Bar Harbor Wealth Management grew its stake in shares of Ryan Specialty by 5.9% during the 4th quarter. Bar Harbor Wealth Management now owns 168,871 shares of the company’s stock valued at $10,835,000 after buying an additional 9,482 shares during the period. Barclays PLC lifted its stake in shares of Ryan Specialty by 1.1% during the third quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock worth $108,994,000 after purchasing an additional 17,267 shares in the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Ryan Specialty in the third quarter valued at $475,000. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RYAN has been the subject of several recent analyst reports. 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 report on Wednesday, October 9th. Morgan Stanley began coverage on shares of 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 decreased their price objective on shares of Ryan Specialty from $68.00 to $64.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Barclays increased their price target on Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Finally, Bank of America lifted their price objective on Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. 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 company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $74.40.

Insider Transactions at Ryan Specialty

In other Ryan Specialty news, EVP Mark Stephen Katz sold 14,790 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $884,236.54. The trade was a 54.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 29,466 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $65.06, for a total transaction of $1,917,057.96. Following the completion of the transaction, the director now owns 45,409 shares of the company’s stock, valued at $2,954,309.54. This trade represents a 39.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 338,296 shares of company stock valued at $22,463,709. Corporate insiders own 11.10% of the company’s stock.

Ryan Specialty Price Performance

Shares of Ryan Specialty stock opened at $67.49 on Tuesday. 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 firm’s 50-day simple moving average is $66.66 and its 200-day simple moving average is $66.64. The firm has a market cap of $17.67 billion, a P/E ratio of 87.65, a price-to-earnings-growth ratio of 1.16 and a beta of 0.72. Ryan Specialty Holdings, Inc. has a twelve month low of $42.34 and a twelve month high of $75.97.

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.