Peregrine Capital Management LLC Lowers Stock Holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Peregrine Capital Management LLC decreased its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 219,023 shares of the company's stock after selling 12,411 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.08% of Ryan Specialty worth $14,053,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of RYAN. Hollencrest Capital Management purchased a new stake in shares of Ryan Specialty in the third quarter worth about $25,000. Assetmark Inc. purchased a new stake in shares of Ryan Specialty in the third quarter worth about $34,000. Principal Securities Inc. raised its holdings in Ryan Specialty by 164.7% in the 4th quarter. Principal Securities Inc. now owns 667 shares of the company's stock worth $43,000 after purchasing an additional 415 shares during the period. Quarry LP raised 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 purchasing an additional 422 shares during the period. Finally, Signaturefd LLC raised its holdings in Ryan Specialty by 12.3% in the 3rd 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. Hedge funds and other institutional investors own 84.82% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on RYAN shares. Wells Fargo & Company upped their price target on Ryan Specialty from $64.00 to $69.00 and gave the stock an "equal weight" rating in a report on Friday. Keefe, Bruyette & Woods reduced their price target on Ryan Specialty from $77.00 to $76.00 and set an "outperform" rating for the company in a report on Friday. Morgan Stanley started coverage on Ryan Specialty in a report on Thursday, December 5th. They issued an "overweight" rating and a $90.00 price target for the company. Barclays upped their price target on Ryan Specialty from $76.00 to $88.00 and gave the stock an "overweight" rating in a report on Thursday, November 21st. Finally, Royal Bank of Canada reduced their price target on Ryan Specialty from $73.00 to $72.00 and set a "sector perform" rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Ryan Specialty has an average rating of "Hold" and a consensus price target of $74.55.

Insider Activity at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 35,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 60,200 shares in the company, valued at approximately $4,015,942. This represents a 36.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 316,451 shares of company stock valued at $20,907,793. 11.10% of the stock is currently owned by insiders.

Ryan Specialty Price Performance

Shares of Ryan Specialty stock traded down $3.05 during mid-day trading on Friday, reaching $65.55. 2,425,852 shares of the stock traded hands, compared to its average volume of 990,822. Ryan Specialty Holdings, Inc. has a fifty-two week low of $45.72 and a fifty-two week high of $75.97. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. The stock has a market capitalization of $17.16 billion, a PE ratio of 85.13, a PEG ratio of 1.21 and a beta of 0.72. The business has a 50-day moving average of $65.57 and a 200 day moving average of $67.26.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The company had revenue of $663.53 million during the quarter, compared to analyst estimates of $658.80 million. On average, analysts predict that Ryan Specialty Holdings, Inc. will post 1.82 EPS for the current 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 issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Tuesday, March 4th. This is a boost from Ryan Specialty's previous quarterly dividend of $0.11. Ryan Specialty's dividend payout ratio (DPR) is currently 63.77%.

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.