Renaissance Technologies LLC Has $12.17 Million Stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Renaissance Technologies LLC lowered its position in shares of 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 firm owned 189,600 shares of the company's stock after selling 10,800 shares during the period. Renaissance Technologies LLC owned approximately 0.07% of Ryan Specialty worth $12,165,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of RYAN. Raymond James Financial Inc. acquired a new stake in shares of Ryan Specialty during the fourth quarter worth $94,484,000. Norges Bank bought a new position in shares of Ryan Specialty in the fourth quarter worth $78,358,000. Principal Financial Group Inc. increased its stake in Ryan Specialty by 115.2% during the 4th quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company's stock valued at $117,619,000 after buying an additional 981,505 shares during the period. CIBC Private Wealth Group LLC raised its holdings in Ryan Specialty by 6,911.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 785,928 shares of the company's stock worth $48,036,000 after purchasing an additional 774,718 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Ryan Specialty by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 9,880,504 shares of the company's stock valued at $633,933,000 after buying an additional 529,631 shares in the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on RYAN. Keefe, Bruyette & Woods cut their price target on shares of Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Barclays decreased their price target on shares of Ryan Specialty from $88.00 to $83.00 and set an "overweight" rating for the company in a report on Friday, April 11th. UBS Group raised their price target on Ryan Specialty from $82.00 to $84.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Royal Bank of Canada reduced their price objective 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. Finally, Wells Fargo & Company lowered their price target on Ryan Specialty from $69.00 to $66.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $75.67.

Insider Activity at Ryan Specialty

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 35,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $66.35, for a total transaction of $2,322,250.00. Following the sale, the director now owns 20,909 shares of the company's stock, valued at $1,387,312.15. This represents a 62.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brendan Martin Mulshine sold 30,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was 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 141,894 shares of company stock valued at $9,429,470 in the last ninety days. Insiders own 11.10% of the company's stock.

Ryan Specialty Stock Performance

RYAN traded down $1.46 during trading on Friday, reaching $70.63. 967,494 shares of the company's stock were exchanged, compared to its average volume of 943,985. The business has a 50 day moving average price of $70.46 and a 200 day moving average price of $69.03. The company has a market capitalization of $18.50 billion, a P/E ratio of 102.37, a PEG ratio of 1.19 and a beta of 0.66. Ryan Specialty Holdings, Inc. has a fifty-two week low of $48.48 and a fifty-two week high of $77.16. 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 (NYSE:RYAN - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.02). Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. The business had revenue of $663.53 million during the quarter, compared to analyst estimates of $658.80 million. As a group, analysts predict that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.68%. This is a boost from Ryan Specialty's previous quarterly dividend of $0.11. Ryan Specialty's dividend payout ratio (DPR) is 69.57%.

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.