Jackson Square Partners LLC Cuts Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Jackson Square Partners LLC cut its holdings in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 16.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 336,250 shares of the company's stock after selling 67,183 shares during the quarter. Ryan Specialty comprises approximately 2.3% of Jackson Square Partners LLC's investment portfolio, making the stock its 19th biggest position. Jackson Square Partners LLC owned 0.13% of Ryan Specialty worth $21,574,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in shares of Ryan Specialty by 107.5% during the third quarter. JPMorgan Chase & Co. now owns 459,464 shares of the company's stock valued at $30,504,000 after acquiring an additional 238,064 shares during the last quarter. Bar Harbor Wealth Management increased its holdings in Ryan Specialty by 5.9% in the 4th quarter. Bar Harbor Wealth Management now owns 168,871 shares of the company's stock valued at $10,835,000 after purchasing an additional 9,482 shares during the last quarter. Barclays PLC raised its position in Ryan Specialty by 1.1% in the third quarter. Barclays PLC now owns 1,641,743 shares of the company's stock valued at $108,994,000 after purchasing an additional 17,267 shares during the period. Charles Schwab Investment Management Inc. raised its position in Ryan Specialty by 43.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 938,187 shares of the company's stock valued at $62,286,000 after purchasing an additional 286,380 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in Ryan Specialty by 51.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 30,760 shares of the company's stock worth $2,042,000 after purchasing an additional 10,460 shares in the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several research firms recently issued reports on RYAN. Royal Bank of Canada cut their price objective on Ryan Specialty from $73.00 to $72.00 and set a "sector perform" rating on the stock in a report on Friday, February 21st. Morgan Stanley assumed coverage on shares of Ryan Specialty in a research note on Thursday, December 5th. They set an "overweight" rating and a $90.00 price target on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Ryan Specialty from $77.00 to $76.00 and set an "outperform" rating for the company in a research note on Friday, February 21st. Wells Fargo & Company upped their target price on shares of Ryan Specialty from $64.00 to $69.00 and gave the stock an "equal weight" rating in a research note on Friday, February 21st. Finally, 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $75.27.

Insider Activity at Ryan Specialty

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 35,000 shares of the firm's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $65.99, for a total transaction of $2,309,650.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Brendan Martin Mulshine sold 30,000 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $69.30, for a total transaction of $2,079,000.00. The disclosure for this sale can be found here. Insiders sold a total of 241,360 shares of company stock valued at $16,006,428 over the last ninety days. Insiders own 11.10% of the company's stock.

Ryan Specialty Stock Up 0.2 %

Ryan Specialty stock traded up $0.15 during midday trading on Friday, reaching $72.98. The company's stock had a trading volume of 860,892 shares, compared to its average volume of 930,027. 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 fifty-two week low of $48.48 and a fifty-two week high of $75.97. The company has a market cap of $19.11 billion, a P/E ratio of 105.77, a P/E/G ratio of 1.19 and a beta of 0.71. The business has a 50-day simple moving average of $68.74 and a 200-day simple moving average of $68.28.

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

Ryan Specialty Increases Dividend

The business also recently declared 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. This is a positive change from Ryan Specialty's previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, March 4th. Ryan Specialty's dividend payout ratio (DPR) is currently 69.57%.

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.