Janney Montgomery Scott LLC Has $1.13 Million Holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Janney Montgomery Scott LLC grew its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 11.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,994 shares of the company’s stock after purchasing an additional 1,799 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Ryan Specialty were worth $1,128,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Ryan Specialty by 96.4% in the second quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock valued at $35,000 after buying an additional 297 shares during the period. Crewe Advisors LLC bought a new position in shares of Ryan Specialty during the 2nd quarter valued at about $39,000. Signaturefd LLC increased its position in shares of Ryan Specialty by 12.3% during the 3rd quarter. Signaturefd LLC now owns 1,347 shares of the company’s stock valued at $89,000 after purchasing an additional 148 shares during the last quarter. Rothschild Investment LLC purchased a new stake in Ryan Specialty during the 2nd quarter valued at about $87,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Ryan Specialty by 1,688.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,844 shares of the company’s stock valued at $165,000 after acquiring an additional 2,685 shares during the period. 84.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on Ryan Specialty from $54.00 to $56.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Citigroup lifted their price objective on Ryan Specialty from $56.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. BMO Capital Markets upgraded Ryan Specialty from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $65.00 to $75.00 in a research report on Tuesday, September 24th. Wells Fargo & Company boosted their price objective on Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Finally, UBS Group lifted their target price on Ryan Specialty from $67.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Ryan Specialty has a consensus rating of “Hold” and a consensus target price of $70.33.

Ryan Specialty Trading Up 0.0 %

RYAN opened at $70.94 on Friday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $18.58 billion, a price-to-earnings ratio of 92.13, a P/E/G 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. Ryan Specialty Holdings, Inc. has a one year low of $41.49 and a one year high of $73.10.

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

Ryan Specialty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.11 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.44 dividend on an annualized basis and a yield of 0.62%. Ryan Specialty’s dividend payout ratio is currently 57.14%.

Insider Activity

In related news, EVP Mark Stephen Katz sold 14,790 shares of the firm’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 of the company’s stock, valued at approximately $884,236.54. This trade represents a 54.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Nicholas Dominic Cortezi sold 1,703 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $64.66, for a total transaction of $110,115.98. Following the completion of the transaction, the director now directly owns 3,800 shares in the company, valued at $245,708. This represents a 30.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,193 shares of company stock worth $6,208,493. Insiders own 11.10% of the company’s stock.

Ryan Specialty Company 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.