Qsemble Capital Management LP Trims Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Qsemble Capital Management LP lessened its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 70.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,355 shares of the company’s stock after selling 7,852 shares during the quarter. Qsemble Capital Management LP’s holdings in Ryan Specialty were worth $223,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Blair William & Co. IL grew its holdings in shares of Ryan Specialty by 3.4% during the second quarter. Blair William & Co. IL now owns 2,866,003 shares of the company’s stock worth $165,970,000 after purchasing an additional 94,663 shares in the last quarter. Eagle Asset Management Inc. grew its holdings in shares of Ryan Specialty by 32.1% during the third quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company’s stock worth $98,555,000 after purchasing an additional 335,180 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Ryan Specialty by 60.2% during the third quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock worth $68,054,000 after purchasing an additional 385,366 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Ryan Specialty by 43.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 938,187 shares of the company’s stock worth $62,286,000 after purchasing an additional 286,380 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Ryan Specialty by 148.9% during the third 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. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. The Goldman Sachs Group boosted their price objective on Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Barclays boosted their target price on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. UBS Group boosted their target price on Ryan Specialty from $67.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Wells Fargo & Company boosted their target price on Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, Bank of America boosted their target price on Ryan Specialty from $75.00 to $84.00 and gave the stock 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 assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Ryan Specialty presently has an average rating of “Hold” and an average target price of $71.67.

Insider Activity at Ryan Specialty

In related news, Director David P. Bolger sold 7,055 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $70.88, for a total transaction of $500,058.40. Following the completion of the transaction, the director now owns 78,149 shares in the company, valued at $5,539,201.12. This represents a 8.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Stephen Katz sold 14,790 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 12,386 shares of the company’s stock, valued at approximately $884,236.54. This represents a 54.42 % decrease in their position. The disclosure for this sale can be found here. 11.10% of the stock is owned by corporate insiders.

Ryan Specialty Stock Performance

Shares of RYAN stock opened at $75.10 on Thursday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. Ryan Specialty Holdings, Inc. has a fifty-two week low of $41.49 and a fifty-two week high of $75.86. The stock has a 50 day moving average price of $69.50 and a two-hundred day moving average price of $62.95. The company has a market capitalization of $19.66 billion, a P/E ratio of 97.53, a PEG ratio of 1.69 and a beta of 0.62.

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, meeting the consensus estimate of $0.41. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The firm had revenue of $604.69 million during the quarter, compared to the consensus estimate of $602.04 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The business’s revenue was up 20.5% on a year-over-year basis. Analysts expect that Ryan Specialty Holdings, Inc. will post 1.8 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were issued a dividend of $0.11 per share. The ex-dividend date was 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 is presently 57.14%.

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.