Sumitomo Mitsui Trust Group Inc. Sells 230,057 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Sumitomo Mitsui Trust Group Inc. reduced its position in Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 15.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,230,207 shares of the company's stock after selling 230,057 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.47% of Ryan Specialty worth $81,673,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Champlain Investment Partners LLC grew its position in Ryan Specialty by 28.0% in the 1st quarter. Champlain Investment Partners LLC now owns 4,937,332 shares of the company's stock valued at $274,022,000 after buying an additional 1,079,505 shares during the last quarter. Blair William & Co. IL increased its stake in shares of Ryan Specialty by 3.4% during the second quarter. Blair William & Co. IL now owns 2,866,003 shares of the company's stock worth $165,970,000 after acquiring an additional 94,663 shares during the period. Bessemer Group Inc. raised its holdings in Ryan Specialty by 33.9% during the first quarter. Bessemer Group Inc. now owns 1,925,864 shares of the company's stock worth $106,886,000 after purchasing an additional 488,067 shares in the last quarter. Principal Financial Group Inc. lifted its position in Ryan Specialty by 148.9% in the third quarter. Principal Financial Group Inc. now owns 851,704 shares of the company's stock valued at $56,545,000 after purchasing an additional 509,548 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Ryan Specialty by 132.2% during the 2nd 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 period. 84.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 2,325 shares of the business's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $64.60, for a total value of $150,195.00. Following the completion of the sale, the director now owns 3,463 shares of the company's stock, valued at approximately $223,709.80. The trade was a 40.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark Stephen Katz sold 14,790 shares of Ryan Specialty 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 sale, the executive vice president now owns 12,386 shares of the company's stock, valued at $884,236.54. This trade represents a 54.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 94,193 shares of company stock valued at $6,208,493 over the last 90 days. 11.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RYAN has been the subject of several research analyst reports. UBS Group increased their price objective on Ryan Specialty from $67.00 to $76.00 and gave the stock a "buy" rating in a research report on Tuesday, August 13th. Wells Fargo & Company lifted their price objective on Ryan Specialty from $63.00 to $70.00 and gave the stock an "equal weight" rating in a report on Thursday, October 10th. JPMorgan Chase & Co. upped their target price on Ryan Specialty from $54.00 to $56.00 and gave the company an "underweight" rating in a report on Friday, August 2nd. Bank of America lifted their price target on Ryan Specialty from $75.00 to $84.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Finally, Barclays started coverage on shares of Ryan Specialty in a report on Wednesday, September 4th. They set an "overweight" rating and a $76.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $70.33.

Ryan Specialty Stock Performance

Shares of NYSE RYAN traded up $0.03 during midday trading on Friday, hitting $70.94. 456,517 shares of the company's stock were exchanged, compared to its average volume of 873,014. Ryan Specialty Holdings, Inc. has a twelve month low of $41.49 and a twelve month high of $73.10. The firm has a market cap of $18.58 billion, a P/E ratio of 92.13, a PEG ratio of 1.63 and a beta of 0.62. The stock's 50 day moving average price is $68.28 and its 200-day moving average price is $61.82. 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 issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, meeting analysts' consensus estimates of $0.41. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The company had revenue of $604.69 million for the quarter, compared to analyst estimates of $602.04 million. During the same period last year, the company earned $0.32 earnings per share. The company's quarterly revenue was up 20.5% compared to the same quarter last year. Equities research analysts anticipate that Ryan Specialty Holdings, Inc. will post 1.8 EPS for the current year.

Ryan Specialty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Tuesday, November 12th. Ryan Specialty's dividend payout ratio is presently 57.14%.

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.