Geode Capital Management LLC Sells 142,723 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Geode Capital Management LLC trimmed its position in Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 7.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,752,170 shares of the company's stock after selling 142,723 shares during the quarter. Geode Capital Management LLC owned about 0.67% of Ryan Specialty worth $116,357,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RYAN. Hollencrest Capital Management purchased a new stake in Ryan Specialty in the 3rd quarter worth approximately $25,000. Assetmark Inc. purchased a new stake in Ryan Specialty in the 3rd quarter worth approximately $34,000. Crewe Advisors LLC purchased a new stake in Ryan Specialty in the 2nd quarter worth approximately $39,000. Quarry LP increased its holdings in Ryan Specialty by 109.3% in the 3rd quarter. Quarry LP now owns 808 shares of the company's stock worth $54,000 after acquiring an additional 422 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Ryan Specialty by 106.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,249 shares of the company's stock worth $83,000 after acquiring an additional 644 shares in the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director David P. Bolger sold 7,055 shares of Ryan Specialty stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $70.88, for a total transaction of $500,058.40. Following the completion of the sale, the director now directly owns 78,149 shares in the company, valued at approximately $5,539,201.12. This trade represents a 8.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock in a transaction on Monday, December 16th. The stock was sold at an average price of $66.71, for a total value of $2,334,850.00. Following the sale, the director now owns 60,200 shares of the company's stock, valued at approximately $4,015,942. This trade represents a 36.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,845 shares of company stock worth $6,249,417 over the last three months. 11.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RYAN shares. Wells Fargo & Company increased their price objective on shares of Ryan Specialty from $63.00 to $70.00 and gave the company an "equal weight" rating in a report on Thursday, October 10th. The Goldman Sachs Group increased their price objective on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. Morgan Stanley started coverage on shares of Ryan Specialty in a report on Thursday, December 5th. They set an "overweight" rating and a $90.00 price objective for the company. BMO Capital Markets raised shares of Ryan Specialty from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $65.00 to $75.00 in a report on Tuesday, September 24th. Finally, Bank of America increased their price objective on shares of Ryan Specialty from $75.00 to $84.00 and gave the company a "buy" rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $73.50.

Ryan Specialty Price Performance

Shares of RYAN stock traded down $1.74 on Wednesday, reaching $63.73. The company's stock had a trading volume of 945,668 shares, compared to its average volume of 867,626. The company has a market capitalization of $16.69 billion, a price-to-earnings ratio of 82.77, a price-to-earnings-growth ratio of 1.52 and a beta of 0.67. The stock's fifty day simple moving average is $70.69 and its 200-day simple moving average is $64.71. Ryan Specialty Holdings, Inc. has a 1 year low of $41.57 and a 1 year high of $75.97. 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 (NYSE:RYAN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.41. The company had revenue of $604.69 million during the quarter, compared to the consensus estimate of $602.04 million. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. Ryan Specialty's revenue was up 20.5% on a year-over-year basis. During the same period last year, the company earned $0.32 earnings per share. Analysts forecast that Ryan Specialty Holdings, Inc. will post 1.82 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a $0.11 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.44 dividend on an annualized basis and a yield of 0.69%. Ryan Specialty's dividend payout ratio is presently 57.14%.

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.