Norden Group LLC Sells 14,514 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Norden Group LLC lessened its holdings in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 34.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 27,973 shares of the company’s stock after selling 14,514 shares during the period. Norden Group LLC’s holdings in Ryan Specialty were worth $1,795,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC purchased a new stake in Ryan Specialty in the third quarter worth $753,000. State of Alaska Department of Revenue grew its stake in Ryan Specialty by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 11,940 shares of the company’s stock worth $792,000 after purchasing an additional 805 shares during the period. Stephens Inc. AR purchased a new stake in Ryan Specialty in the third quarter worth $289,000. Janney Montgomery Scott LLC grew its stake in Ryan Specialty by 11.8% in the third quarter. Janney Montgomery Scott LLC now owns 16,994 shares of the company’s stock worth $1,128,000 after purchasing an additional 1,799 shares during the period. Finally, Geneva Partners LLC purchased a new stake in Ryan Specialty in the third quarter worth $2,537,000. Institutional investors own 84.82% of the company’s stock.

Insider Activity

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 35,000 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $67.39, for a total value of $2,358,650.00. Following the transaction, the director now owns 65,100 shares of the company’s stock, valued at approximately $4,387,089. This represents a 34.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 316,451 shares of company stock valued at $20,907,793 over the last ninety days. 11.10% of the stock is currently owned by corporate insiders.

Ryan Specialty Trading Up 0.0 %

Shares of NYSE:RYAN opened at $70.07 on Friday. The company has a market cap of $18.35 billion, a P/E ratio of 101.54, a PEG ratio of 1.19 and a beta of 0.72. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. Ryan Specialty Holdings, Inc. has a 1 year low of $48.48 and a 1 year high of $75.97. The stock’s fifty day moving average price is $66.02 and its 200-day moving average price is $67.41.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The business had revenue of $663.53 million for the quarter, compared to the consensus estimate of $658.80 million. Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. Sell-side analysts expect that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.12 per share. This is an increase from Ryan Specialty’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Tuesday, March 4th. Ryan Specialty’s dividend payout ratio is presently 69.57%.

Analysts Set New Price Targets

RYAN has been the topic of several recent research reports. UBS Group upped their price target on Ryan Specialty from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Wednesday. 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. Keefe, Bruyette & Woods cut their target price on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Barclays increased 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. Finally, Royal Bank of Canada cut their target price on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Ryan Specialty has an average rating of “Hold” and a consensus price target of $75.27.

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.