PDT Partners LLC Sells 19,051 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

PDT Partners LLC reduced its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 55.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,502 shares of the company’s stock after selling 19,051 shares during the period. PDT Partners LLC’s holdings in Ryan Specialty were worth $1,029,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several brokerages have commented on RYAN. UBS Group raised their price target on shares of Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Bank of America lifted their price objective on Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. BMO Capital Markets upgraded Ryan Specialty from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $65.00 to $75.00 in a research note on Tuesday, September 24th. The Goldman Sachs Group lifted their price target on Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, 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 research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $71.67.

Ryan Specialty Stock Performance

NYSE:RYAN opened at $75.40 on Monday. The company has a market capitalization of $19.74 billion, a price-to-earnings ratio of 97.92, a PEG ratio of 1.71 and a beta of 0.62. The business has a 50 day moving average of $70.23 and a 200 day moving average of $63.34. 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 Holdings, Inc. has a 1-year low of $41.49 and a 1-year high of $75.97.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The firm had revenue of $604.69 million during the quarter, compared to analyst estimates of $602.04 million. During the same period in the previous year, the business posted $0.32 EPS. The business’s quarterly revenue was up 20.5% on a year-over-year basis. On average, sell-side analysts predict that Ryan Specialty Holdings, Inc. will post 1.8 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

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

Insider Activity

In related news, EVP Mark Stephen Katz sold 14,790 shares of the company’s 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 sale, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David P. Bolger sold 7,055 shares of the stock in a transaction on 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 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.