Retirement Systems of Alabama Sells 2,063 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Retirement Systems of Alabama cut its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,269 shares of the company’s stock after selling 2,063 shares during the quarter. Retirement Systems of Alabama’s holdings in Ryan Specialty were worth $8,250,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of RYAN. Signaturefd LLC raised its stake in Ryan Specialty by 12.3% in the third quarter. Signaturefd LLC now owns 1,347 shares of the company’s stock worth $89,000 after buying an additional 148 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Ryan Specialty by 5.2% during the 3rd quarter. UMB Bank n.a. now owns 5,224 shares of the company’s stock worth $347,000 after acquiring an additional 256 shares during the period. Loomis Sayles & Co. L P raised its position in shares of Ryan Specialty by 26.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,373 shares of the company’s stock worth $91,000 after acquiring an additional 286 shares in the last quarter. Hollencrest Capital Management purchased a new position in shares of Ryan Specialty in the 3rd quarter valued at approximately $25,000. Finally, Quarry LP boosted its position in shares of Ryan Specialty by 109.3% during the third quarter. Quarry LP now owns 808 shares of the company’s stock valued at $54,000 after purchasing an additional 422 shares in the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Ryan Specialty Stock Performance

RYAN stock opened at $65.44 on Wednesday. The stock’s 50 day simple moving average is $70.69 and its 200 day simple moving average is $64.71. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. Ryan Specialty Holdings, Inc. has a 12-month low of $41.57 and a 12-month high of $75.97. The stock has a market capitalization of $17.13 billion, a PE ratio of 84.99, a price-to-earnings-growth ratio of 1.52 and a beta of 0.67.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, hitting the consensus estimate of $0.41. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The firm had revenue of $604.69 million during the quarter, compared to analysts’ expectations of $602.04 million. During the same quarter in the previous year, the business earned $0.32 earnings per share. The company’s revenue was up 20.5% on a year-over-year basis. As a group, research analysts forecast that Ryan Specialty Holdings, Inc. will post 1.82 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Tuesday, November 12th. Ryan Specialty’s payout ratio is presently 57.14%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RYAN shares. BMO Capital Markets upgraded Ryan Specialty from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $65.00 to $75.00 in a report on Tuesday, September 24th. Morgan Stanley began coverage on shares of Ryan Specialty in a research report on Thursday, December 5th. They set an “overweight” rating and a $90.00 price target for the company. Wells Fargo & Company upped their price objective on shares of Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Bank of America lifted their target price on shares of Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Barclays upped their price target on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $73.50.

Insider Transactions at Ryan Specialty

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 35,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 60,200 shares of the company’s stock, valued at approximately $4,015,942. This trade represents a 36.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David P. Bolger sold 7,055 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $70.88, for a total transaction of $500,058.40. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 91,845 shares of company stock worth $6,249,417 over the last three months. 11.10% of the stock is currently owned by company 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.