Jennison Associates LLC Sells 32,046 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Jennison Associates LLC trimmed its position in Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 993,017 shares of the company's stock after selling 32,046 shares during the period. Jennison Associates LLC owned about 0.38% of Ryan Specialty worth $63,712,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in 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 purchasing an additional 238,064 shares during the period. Geneva Partners LLC purchased a new position in shares of Ryan Specialty during the 3rd quarter valued at about $2,537,000. Bar Harbor Wealth Management grew its stake in shares of Ryan Specialty by 5.9% during the 4th quarter. Bar Harbor Wealth Management now owns 168,871 shares of the company's stock valued at $10,835,000 after acquiring an additional 9,482 shares during the period. Barclays PLC increased its holdings in Ryan Specialty by 1.1% in the 3rd quarter. Barclays PLC now owns 1,641,743 shares of the company's stock worth $108,994,000 after acquiring an additional 17,267 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in Ryan Specialty during the 3rd quarter worth approximately $475,000. 84.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RYAN shares. Keefe, Bruyette & Woods dropped their price target on shares of Ryan Specialty from $79.00 to $77.00 and set an "outperform" rating for the company in a research report on Friday, January 10th. Morgan Stanley began coverage on shares of Ryan Specialty in a report on Thursday, December 5th. They issued an "overweight" rating and a $90.00 target price for the company. Bank of America raised their price target on Ryan Specialty from $75.00 to $84.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Barclays upped their price objective on Ryan Specialty from $76.00 to $88.00 and gave the stock an "overweight" rating in a research note on Thursday, November 21st. Finally, Wells Fargo & Company lowered their price target on Ryan Specialty from $68.00 to $64.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $74.40.

Ryan Specialty Price Performance

NYSE:RYAN traded down $0.27 during trading hours on Friday, reaching $68.24. The stock had a trading volume of 637,807 shares, compared to its average volume of 980,072. The stock has a market capitalization of $17.87 billion, a PE ratio of 88.63, a PEG ratio of 1.16 and a beta of 0.72. Ryan Specialty Holdings, Inc. has a 52 week low of $42.68 and a 52 week high of $75.97. The company has a 50 day moving average price of $66.12 and a two-hundred day moving average price of $66.82. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01.

Insider Activity at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 35,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $66.71, for a total transaction of $2,334,850.00. Following the sale, the director now owns 60,200 shares in the company, valued at approximately $4,015,942. This represents a 36.76 % decrease in their position. The transaction was disclosed in a filing 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 stock was sold at an average price of $70.88, for a total transaction of $500,058.40. Following the transaction, the director now directly owns 78,149 shares of the company's stock, valued at $5,539,201.12. The trade was a 8.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 323,506 shares of company stock valued at $21,407,851. 11.10% of the stock is owned by corporate insiders.

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.