AGF Management Ltd. Sells 13,568 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

AGF Management Ltd. lowered its holdings in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 27.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,034 shares of the company's stock after selling 13,568 shares during the quarter. AGF Management Ltd.'s holdings in Ryan Specialty were worth $2,248,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of RYAN. Janney Montgomery Scott LLC raised its position in shares of Ryan Specialty by 11.8% during 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. Assetmark Inc. acquired a new stake in Ryan Specialty in the 3rd quarter valued at approximately $34,000. Crossmark Global Holdings Inc. acquired a new stake in Ryan Specialty in the 3rd quarter valued at approximately $475,000. Entropy Technologies LP acquired a new stake in Ryan Specialty in the 3rd quarter valued at approximately $369,000. Finally, Aigen Investment Management LP acquired a new stake in Ryan Specialty in the 3rd quarter valued at approximately $333,000. Institutional investors and hedge funds own 84.82% of the company's stock.

Ryan Specialty Stock Performance

Shares of NYSE RYAN traded up $0.88 during midday trading on Wednesday, hitting $71.96. 747,861 shares of the company's stock were exchanged, compared to its average volume of 908,637. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. Ryan Specialty Holdings, Inc. has a 12 month low of $48.48 and a 12 month high of $75.97. The company's 50 day moving average price is $67.51 and its 200 day moving average price is $67.86. The firm has a market capitalization of $18.85 billion, a PE ratio of 104.29, a price-to-earnings-growth ratio of 1.19 and a beta of 0.71.

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

Ryan Specialty Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were issued a dividend of $0.12 per share. This is a boost from Ryan Specialty's previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 0.67%. The ex-dividend date was Tuesday, March 4th. Ryan Specialty's dividend payout ratio (DPR) is presently 69.57%.

Insider Buying and Selling

In related news, Director Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $65.99, for a total transaction of $2,309,650.00. Following the completion of the sale, the director now directly owns 35,609 shares of the company's stock, valued at approximately $2,349,837.91. This trade represents a 49.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Brendan Martin Mulshine sold 30,000 shares of Ryan Specialty stock in a transaction on Friday, March 14th. The shares were sold at an average price of $69.30, for a total value of $2,079,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 241,451 shares of company stock valued at $16,012,343. Insiders own 11.10% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on Ryan Specialty from $64.00 to $69.00 and gave the company an "equal weight" rating in a research report on Friday, February 21st. Keefe, Bruyette & Woods dropped their target price on Ryan Specialty from $77.00 to $76.00 and set an "outperform" rating on the stock in a research report on Friday, February 21st. UBS Group lifted their target price on Ryan Specialty from $82.00 to $84.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Barclays lifted their target price on Ryan Specialty from $76.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday, November 21st. Finally, Royal Bank of Canada decreased their price target on Ryan Specialty from $73.00 to $72.00 and set a "sector perform" rating for the company 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 issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $75.27.

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.