Firetrail Investments PTY Ltd. Decreases Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Firetrail Investments PTY Ltd. trimmed its position in Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 35.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 139,470 shares of the company's stock after selling 77,160 shares during the quarter. Ryan Specialty accounts for 2.7% of Firetrail Investments PTY Ltd.'s holdings, making the stock its 22nd largest holding. Firetrail Investments PTY Ltd. owned 0.05% of Ryan Specialty worth $9,250,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new stake in Ryan Specialty in the third quarter valued at approximately $25,000. Assetmark Inc. acquired a new stake in Ryan Specialty in the third quarter valued at approximately $34,000. GAMMA Investing LLC boosted its position in Ryan Specialty by 96.4% in the second quarter. GAMMA Investing LLC now owns 605 shares of the company's stock valued at $35,000 after buying an additional 297 shares in the last quarter. Crewe Advisors LLC acquired a new stake in Ryan Specialty in the second quarter valued at approximately $39,000. Finally, Signaturefd LLC lifted its holdings in shares of Ryan Specialty by 12.3% during the third quarter. Signaturefd LLC now owns 1,347 shares of the company's stock worth $89,000 after purchasing an additional 148 shares during the period. 84.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RYAN has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price target on shares of Ryan Specialty from $63.00 to $70.00 and gave the stock an "equal weight" rating in a report on Thursday, October 10th. Barclays initiated coverage on shares of Ryan Specialty in a report on Wednesday, September 4th. They set an "overweight" rating and a $76.00 price target on the stock. Bank of America lifted their price target on shares of Ryan Specialty from $75.00 to $84.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price target on shares of Ryan Specialty from $54.00 to $56.00 and gave the stock an "underweight" rating in a report on Friday, August 2nd. Finally, UBS Group boosted their target price on shares of Ryan Specialty from $67.00 to $76.00 and gave the company a "buy" rating in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $70.33.

Insider Buying and Selling

In other news, EVP Mark Stephen Katz sold 14,790 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $71.39, for a total transaction 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 $884,236.54. This represents a 54.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $65.15, for a total transaction of $2,280,250.00. Following the completion of the transaction, the director now directly owns 9,115 shares of the company's stock, valued at approximately $593,842.25. This trade represents a 79.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 94,193 shares of company stock worth $6,208,493 in the last quarter. Insiders own 11.10% of the company's stock.

Ryan Specialty Stock Down 1.2 %

Shares of NYSE RYAN traded down $0.84 during trading on Thursday, hitting $70.88. 497,350 shares of the company traded hands, compared to its average volume of 874,898. The business's fifty day moving average is $68.14 and its 200 day moving average is $61.66. Ryan Specialty Holdings, Inc. has a fifty-two week low of $41.49 and a fifty-two week high of $73.10. The firm has a market capitalization of $18.56 billion, a price-to-earnings ratio of 92.05, a P/E/G ratio of 1.63 and a beta of 0.62. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01.

Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, meeting the consensus estimate of $0.41. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The firm had revenue of $604.69 million for the quarter, compared to analyst estimates of $602.04 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. The business's quarterly revenue was up 20.5% compared to the same quarter last year. Equities research analysts predict that Ryan Specialty Holdings, Inc. will post 1.8 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.44 annualized dividend and a dividend yield of 0.62%. Ryan Specialty's dividend payout ratio is currently 57.14%.

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.