PDT Partners LLC Decreases Stock Holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

PDT Partners LLC cut its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 55.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,502 shares of the company's stock after selling 19,051 shares during the period. PDT Partners LLC's holdings in Ryan Specialty were worth $1,029,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Securian Asset Management Inc. acquired a new position in shares of Ryan Specialty during the second quarter worth about $474,000. Xponance Inc. increased its position in Ryan Specialty by 67.2% during the 2nd quarter. Xponance Inc. now owns 20,686 shares of the company's stock worth $1,198,000 after purchasing an additional 8,312 shares during the period. Geneva Partners LLC acquired a new position in Ryan Specialty during the 3rd quarter worth approximately $2,537,000. Jennison Associates LLC raised its stake in shares of Ryan Specialty by 60.2% during the 3rd quarter. Jennison Associates LLC now owns 1,025,063 shares of the company's stock worth $68,054,000 after buying an additional 385,366 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC lifted its holdings in shares of Ryan Specialty by 2,354.0% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 100,614 shares of the company's stock valued at $5,827,000 after buying an additional 96,514 shares during the period. 84.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RYAN has been the topic of a number of recent analyst reports. Bank of America upped their price objective on Ryan Specialty from $75.00 to $84.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. BMO Capital Markets upgraded shares of Ryan Specialty from a "market perform" rating to an "outperform" rating and increased their price target for the company from $65.00 to $75.00 in a report on Tuesday, September 24th. UBS Group boosted their price objective on shares of Ryan Specialty from $67.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday, August 13th. Barclays increased their target price on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an "overweight" rating in a report on Thursday, November 21st. Finally, The Goldman Sachs Group boosted their price target on Ryan Specialty from $64.00 to $72.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $71.67.

Insiders Place Their Bets

In related news, EVP Mark Stephen Katz sold 14,790 shares of the company's 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 owns 12,386 shares of the company's stock, valued at approximately $884,236.54. This represents a 54.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David P. Bolger sold 7,055 shares of Ryan Specialty stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $70.88, for a total transaction of $500,058.40. Following the completion of the transaction, the director now owns 78,149 shares in the company, valued at approximately $5,539,201.12. This trade represents a 8.28 % decrease in their position. The disclosure for this sale can be found here. 11.10% of the stock is owned by corporate insiders.

Ryan Specialty Price Performance

Ryan Specialty stock traded down $1.33 during mid-day trading on Monday, hitting $74.07. 669,590 shares of the company were exchanged, compared to its average volume of 868,293. Ryan Specialty Holdings, Inc. has a 12-month low of $41.49 and a 12-month high of $75.97. The company has a market capitalization of $19.39 billion, a P/E ratio of 96.61, a PEG ratio of 1.71 and a beta of 0.62. The business's 50 day simple moving average is $70.23 and its two-hundred day simple moving average is $63.41. 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 (NYSE:RYAN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, hitting analysts' consensus estimates of $0.41. The firm had revenue of $604.69 million during the quarter, compared to analysts' expectations of $602.04 million. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The firm's quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 EPS. Analysts forecast that Ryan Specialty Holdings, Inc. will post 1.8 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a dividend of $0.11 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.44 dividend on an annualized basis and a yield of 0.59%. Ryan Specialty's dividend payout ratio (DPR) 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.