Ryan Specialty Holdings, Inc. (NYSE:RYAN) Shares Sold by Townsquare Capital LLC

Townsquare Capital LLC trimmed its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 5.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 244,715 shares of the company's stock after selling 14,227 shares during the quarter. Townsquare Capital LLC owned 0.09% of Ryan Specialty worth $16,247,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in Ryan Specialty by 148.9% in the 3rd quarter. Principal Financial Group Inc. now owns 851,704 shares of the company's stock worth $56,545,000 after buying an additional 509,548 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Ryan Specialty by 132.2% in the second quarter. Bank of New York Mellon Corp now owns 836,209 shares of the company's stock worth $48,425,000 after purchasing an additional 476,126 shares during the last quarter. Jennison Associates LLC grew its position in Ryan Specialty by 60.2% in the 3rd quarter. Jennison Associates LLC now owns 1,025,063 shares of the company's stock worth $68,054,000 after purchasing an additional 385,366 shares during the period. Eagle Asset Management Inc. raised its stake in Ryan Specialty by 32.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company's stock valued at $98,555,000 after buying an additional 335,180 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Ryan Specialty by 43.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 938,187 shares of the company's stock valued at $62,286,000 after buying an additional 286,380 shares during the period. 84.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on RYAN. JPMorgan Chase & Co. upped their price objective on Ryan Specialty from $54.00 to $56.00 and gave the company an "underweight" rating in a research report on Friday, August 2nd. BMO Capital Markets upgraded shares of Ryan Specialty from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $65.00 to $75.00 in a research report on Tuesday, September 24th. The Goldman Sachs Group increased their price target on shares of Ryan Specialty from $64.00 to $72.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Bank of America lifted their target price on Ryan Specialty from $75.00 to $84.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company upped their price target on Ryan Specialty from $63.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $71.67.

Ryan Specialty Price Performance

Shares of RYAN traded up $0.37 during midday trading on Wednesday, hitting $75.44. 250,132 shares of the company traded hands, compared to its average volume of 868,759. The firm has a 50 day moving average of $69.27 and a 200-day moving average of $62.80. Ryan Specialty Holdings, Inc. has a 52 week low of $41.49 and a 52 week high of $75.86. The stock has a market cap of $19.75 billion, a price-to-earnings ratio of 97.69, a PEG ratio of 1.69 and a beta of 0.62. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued 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 business had revenue of $604.69 million during the quarter, compared to analysts' expectations of $602.04 million. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The business's revenue was up 20.5% on a year-over-year basis. During the same period last year, the company posted $0.32 EPS. On average, analysts forecast that Ryan Specialty Holdings, Inc. will post 1.8 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Tuesday, November 12th. Ryan Specialty's payout ratio is 57.14%.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, EVP Mark Stephen Katz sold 14,790 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $71.39, for a total value of $1,055,858.10. Following the transaction, the executive vice president now directly owns 12,386 shares in the company, valued at $884,236.54. This represents a 54.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David P. Bolger sold 7,055 shares of the company's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $70.88, for a total value of $500,058.40. Following the completion of the sale, the director now owns 78,149 shares of the company's stock, valued at $5,539,201.12. This represents a 8.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 11.10% of the company's stock.

About Ryan Specialty

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.