Assetmark Inc. Invests $34,000 in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Assetmark Inc. purchased a new stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 506 shares of the company’s stock, valued at approximately $34,000.

A number of other hedge funds also recently modified their holdings of RYAN. Securian Asset Management Inc. acquired a new stake in Ryan Specialty during the 2nd quarter worth approximately $474,000. Xponance Inc. grew its stake in shares of Ryan Specialty by 67.2% in the second quarter. Xponance Inc. now owns 20,686 shares of the company’s stock valued at $1,198,000 after acquiring an additional 8,312 shares in the last quarter. Geneva Partners LLC acquired a new stake in Ryan Specialty in the 3rd quarter worth about $2,537,000. Susquehanna Fundamental Investments LLC increased its holdings in shares of Ryan Specialty by 2,354.0% during the second quarter. Susquehanna Fundamental Investments LLC now owns 100,614 shares of the company’s stock worth $5,827,000 after purchasing an additional 96,514 shares during the period. Finally, Retirement Systems of Alabama acquired a new stake in shares of Ryan Specialty in the second quarter valued at approximately $7,316,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Insider Activity

In other news, Director Nicholas Dominic Cortezi sold 1,703 shares of Ryan Specialty stock in a transaction on 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 sale, the director now directly owns 3,800 shares of the company’s stock, valued at approximately $245,708. The trade was a 30.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark Stephen Katz sold 14,790 shares of the stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 12,386 shares in the company, valued at approximately $884,236.54. This represents a 54.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,193 shares of company stock worth $1,664,093 over the last ninety days. Company insiders own 11.10% of the company’s stock.

Ryan Specialty Stock Performance

Shares of RYAN opened at $70.37 on Wednesday. The stock has a 50 day moving average of $68.55 and a 200 day moving average of $62.23. 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 $41.49 and a 12 month high of $73.10. The company has a market capitalization of $18.43 billion, a price-to-earnings ratio of 91.39, a PEG ratio of 1.61 and a beta of 0.62.

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

Ryan Specialty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid 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 0.63%. Ryan Specialty’s payout ratio is 57.14%.

Analysts Set New Price Targets

RYAN has been the topic of several analyst reports. Citigroup increased their target price 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 raised shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $65.00 to $75.00 in a research note on Tuesday, September 24th. Barclays began coverage on shares of Ryan Specialty in a report on Wednesday, September 4th. They issued an “overweight” rating and a $76.00 target price for the company. UBS Group raised their target price on shares of Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, Bank of America upped their price target on shares of Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a 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 issued a buy rating to the stock. Based on data from MarketBeat.com, Ryan Specialty has an average rating of “Hold” and a consensus price target of $70.33.

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.