Connor Clark & Lunn Investment Management Ltd. Sells 12,067 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 31.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,713 shares of the company’s stock after selling 12,067 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ryan Specialty were worth $1,707,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of RYAN. Hollencrest Capital Management bought a new position in Ryan Specialty during the third quarter worth about $25,000. Assetmark Inc. acquired a new stake in shares of Ryan Specialty in the third quarter valued at approximately $34,000. GAMMA Investing LLC grew its position in Ryan Specialty by 96.4% during the second quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock worth $35,000 after buying an additional 297 shares in the last quarter. Crewe Advisors LLC acquired a new stake in Ryan Specialty during the second quarter worth approximately $39,000. Finally, Signaturefd LLC increased its stake in Ryan Specialty by 12.3% during the 3rd quarter. Signaturefd LLC now owns 1,347 shares of the company’s stock worth $89,000 after acquiring an additional 148 shares during the period. Institutional investors and hedge funds own 84.82% of the company’s stock.

Insider Transactions at Ryan Specialty

In related news, EVP Mark Stephen Katz sold 14,790 shares of Ryan Specialty stock in a transaction 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nicholas Dominic Cortezi sold 5,375 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $64.73, for a total transaction of $347,923.75. Following the sale, the director now directly owns 2,685 shares in the company, valued at $173,800.05. This trade represents a 66.69 % decrease in their position. The disclosure for this sale can be found here. 11.10% of the stock is owned by company insiders.

Ryan Specialty Trading Up 1.4 %

NYSE RYAN opened at $74.59 on Tuesday. The company has a market cap of $19.53 billion, a price-to-earnings ratio of 96.87, a price-to-earnings-growth ratio of 1.67 and a beta of 0.62. Ryan Specialty Holdings, Inc. has a twelve month low of $41.49 and a twelve month high of $75.39. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. The business’s fifty day moving average is $69.27 and its 200 day moving average is $62.80.

Ryan Specialty (NYSE:RYAN) last released 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. The company had revenue of $604.69 million for the quarter, compared to analysts’ expectations of $602.04 million. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 earnings per share. As a group, sell-side analysts expect that Ryan Specialty Holdings, Inc. will post 1.8 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.59%. Ryan Specialty’s dividend payout ratio (DPR) is presently 57.14%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Barclays increased their target price on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. BMO Capital Markets upgraded shares of 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 research note on Tuesday, September 24th. Wells Fargo & Company boosted their target price on shares of Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. 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. Finally, Bank of America boosted their price objective on shares of Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. One equities research 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. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $71.67.

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.