Geneva Capital Management LLC Sells 36,271 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Geneva Capital Management LLC decreased its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 7.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 480,145 shares of the company's stock after selling 36,271 shares during the period. Geneva Capital Management LLC owned 0.18% of Ryan Specialty worth $30,806,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in RYAN. Sanctuary Advisors LLC increased its position in shares of Ryan Specialty by 1.2% during the fourth quarter. Sanctuary Advisors LLC now owns 15,690 shares of the company's stock worth $1,045,000 after buying an additional 188 shares during the period. State of Alaska Department of Revenue boosted its position in Ryan Specialty by 1.6% during the fourth quarter. State of Alaska Department of Revenue now owns 12,130 shares of the company's stock valued at $778,000 after acquiring an additional 190 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Ryan Specialty by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 3,674 shares of the company's stock worth $236,000 after acquiring an additional 196 shares during the period. Loomis Sayles & Co. L P raised its position in shares of Ryan Specialty by 26.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,373 shares of the company's stock worth $91,000 after acquiring an additional 286 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Ryan Specialty by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 11,760 shares of the company's stock valued at $755,000 after purchasing an additional 295 shares during the period. 84.82% of the stock is currently owned by institutional investors.

Remove Ads

Ryan Specialty Stock Down 0.9 %

Shares of NYSE:RYAN traded down $0.62 during midday trading on Monday, hitting $68.61. 819,825 shares of the company's stock were exchanged, compared to its average volume of 984,798. 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 12 month low of $48.48 and a 12 month high of $75.97. The company has a market cap of $17.96 billion, a PE ratio of 99.43, a price-to-earnings-growth ratio of 1.19 and a beta of 0.71. The stock has a 50 day moving average price of $66.57 and a 200-day moving average price of $67.60.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $658.80 million. On average, sell-side analysts anticipate that Ryan Specialty Holdings, Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be given a $0.12 dividend. This is a positive change from Ryan Specialty's previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Tuesday, March 4th. Ryan Specialty's dividend payout ratio is presently 69.57%.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 35,000 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $66.71, for a total value of $2,334,850.00. Following the completion of the sale, the director now directly owns 60,200 shares of the company's stock, valued at approximately $4,015,942. This represents a 36.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 316,451 shares of company stock worth $20,907,793. Corporate insiders own 11.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wells Fargo & Company raised their target price on Ryan Specialty from $64.00 to $69.00 and gave the stock an "equal weight" rating in a research note on Friday, February 21st. Barclays raised their price objective on shares of Ryan Specialty from $76.00 to $88.00 and gave the stock an "overweight" rating in a research report on Thursday, November 21st. UBS Group boosted their target price 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 cut their target price on shares of Ryan Specialty from $77.00 to $76.00 and set an "outperform" rating on the stock in a research note on Friday, February 21st. Finally, Royal Bank of Canada decreased their price target on shares of 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 issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average 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.