AXQ Capital LP Sells 3,994 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

AXQ Capital LP decreased its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 26.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,098 shares of the company's stock after selling 3,994 shares during the period. AXQ Capital LP's holdings in Ryan Specialty were worth $712,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp raised its holdings in Ryan Specialty by 1.5% in the third quarter. State Street Corp now owns 3,273,093 shares of the company's stock worth $217,301,000 after purchasing an additional 49,198 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Ryan Specialty by 0.4% in the 3rd quarter. Janus Henderson Group PLC now owns 3,148,916 shares of the company's stock worth $209,058,000 after acquiring an additional 13,986 shares in the last quarter. Principal Financial Group Inc. lifted its position in Ryan Specialty by 115.2% during the 4th quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company's stock valued at $117,619,000 after acquiring an additional 981,505 shares during the period. Barclays PLC grew its holdings in Ryan Specialty by 1.1% in 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 during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Ryan Specialty in the 4th quarter worth approximately $94,484,000. Hedge funds and other institutional investors own 84.82% of the company's stock.

Remove Ads

Ryan Specialty Stock Performance

RYAN stock traded up $1.29 during midday trading on Thursday, reaching $72.83. 1,082,698 shares of the company's stock traded hands, compared to its average volume of 910,478. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. Ryan Specialty Holdings, Inc. has a 52-week low of $48.48 and a 52-week high of $75.97. The stock has a market cap of $19.07 billion, a P/E ratio of 105.55, a PEG ratio of 1.19 and a beta of 0.71. The stock's 50-day moving average is $68.49 and its 200 day moving average is $68.15.

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

Ryan Specialty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, March 4th. 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 0.66%. Ryan Specialty's payout ratio is 69.57%.

Insider Buying and Selling

In other Ryan Specialty news, EVP Brendan Martin Mulshine sold 30,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $69.30, for a total value of $2,079,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nicholas Dominic Cortezi sold 29,466 shares of the business's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $65.06, for a total value of $1,917,057.96. Following the completion of the transaction, the director now owns 45,409 shares in the company, valued at $2,954,309.54. The trade was a 39.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 241,360 shares of company stock valued at $16,006,428. 11.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RYAN shares. UBS Group raised their price target on shares of Ryan Specialty from $82.00 to $84.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Keefe, Bruyette & Woods decreased their price target on Ryan Specialty from $77.00 to $76.00 and set an "outperform" rating for the company in a research note on Friday, February 21st. Morgan Stanley initiated coverage on Ryan Specialty in a research report on Thursday, December 5th. They set an "overweight" rating and a $90.00 price objective on the stock. Royal Bank of Canada decreased their target price on Ryan Specialty from $73.00 to $72.00 and set a "sector perform" rating for the company in a research report on Friday, February 21st. Finally, Wells Fargo & Company raised their price target on shares of Ryan Specialty from $64.00 to $69.00 and gave the company an "equal weight" rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus 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.