Ryan Specialty Holdings, Inc. (NYSE:RYAN) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its position in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 32.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,720 shares of the company’s stock after selling 19,016 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Ryan Specialty were worth $2,300,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Ryan Specialty by 96.4% during the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock worth $35,000 after buying an additional 297 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of Ryan Specialty during the 2nd quarter worth approximately $39,000. Intelligent Financial Strategies purchased a new stake in Ryan Specialty in the 1st quarter valued at approximately $44,000. Benjamin F. Edwards & Company Inc. acquired a new stake in Ryan Specialty during the 1st quarter valued at $45,000. Finally, Rothschild Investment LLC purchased a new position in Ryan Specialty during the second quarter worth $87,000. 84.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. The Goldman Sachs Group upped their price objective on Ryan Specialty from $58.00 to $64.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Barclays initiated coverage on shares of Ryan Specialty in a research note on Wednesday, September 4th. They set an “overweight” rating and a $76.00 price target on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $62.00 price target on shares of Ryan Specialty in a report on Tuesday, July 2nd. JPMorgan Chase & Co. raised their target price on shares of Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Finally, Citigroup boosted their price target on Ryan Specialty from $56.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Ryan Specialty has a consensus rating of “Hold” and an average price target of $63.40.

Ryan Specialty Trading Down 0.1 %

RYAN stock opened at $62.72 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.81. The company has a market cap of $16.40 billion, a price-to-earnings ratio of 118.34, a PEG ratio of 1.53 and a beta of 0.62. The business has a fifty day simple moving average of $62.79 and a 200-day simple moving average of $57.11. Ryan Specialty Holdings, Inc. has a 52 week low of $41.49 and a 52 week high of $69.03.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. Ryan Specialty had a return on equity of 48.08% and a net margin of 10.21%. The company had revenue of $695.40 million for the quarter, compared to the consensus estimate of $695.56 million. During the same period last year, the business posted $0.45 EPS. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. On average, equities research analysts expect that Ryan Specialty Holdings, Inc. will post 1.81 EPS for the current year.

Ryan Specialty Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.11 per share. The ex-dividend date was Tuesday, August 13th. This represents a $0.44 annualized dividend and a yield of 0.70%. Ryan Specialty’s dividend payout ratio is currently 83.02%.

Insider Transactions at Ryan Specialty

In other Ryan Specialty news, President Timothy William Turner sold 2,000,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the transaction, the president now owns 8,095 shares in the company, valued at $505,532.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, President Timothy William Turner sold 2,000,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the completion of the sale, the president now directly owns 8,095 shares of the company’s stock, valued at approximately $505,532.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $65.18, for a total transaction of $1,709,866.94. Following the completion of the transaction, the executive vice president now owns 24,845 shares in the company, valued at approximately $1,619,397.10. The disclosure for this sale can be found here. Insiders sold 2,107,136 shares of company stock valued at $131,860,032 over the last 90 days. Corporate 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.