Penserra Capital Management LLC Cuts Stake in Ryan Specialty Holdings Inc. $RYAN

Penserra Capital Management LLC lowered its stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 95.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 572 shares of the company’s stock after selling 12,121 shares during the quarter. Penserra Capital Management LLC’s holdings in Ryan Specialty were worth $38,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Ryan Specialty by 281.6% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company’s stock valued at $25,000 after buying an additional 245 shares during the period. SVB Wealth LLC bought a new stake in Ryan Specialty in the 1st quarter valued at about $26,000. Golden State Wealth Management LLC lifted its holdings in Ryan Specialty by 10,975.0% during the second quarter. Golden State Wealth Management LLC now owns 443 shares of the company’s stock valued at $30,000 after purchasing an additional 439 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Ryan Specialty in the second quarter worth about $31,000. Finally, WPG Advisers LLC bought a new position in Ryan Specialty in the 1st quarter worth approximately $32,000. Institutional investors own 84.82% of the company’s stock.

Insider Activity at Ryan Specialty

In other news, Chairman Patrick G. Ryan acquired 276,634 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was acquired at an average price of $51.84 per share, for a total transaction of $14,340,706.56. Following the completion of the acquisition, the chairman owned 13,699,959 shares in the company, valued at $710,205,874.56. This trade represents a 2.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 52.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RYAN shares. Wall Street Zen upgraded Ryan Specialty from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. BMO Capital Markets reduced their price target on shares of Ryan Specialty from $70.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Citigroup started coverage on Ryan Specialty in a report on Wednesday, August 13th. They set a “buy” rating and a $74.00 price objective for the company. Cantor Fitzgerald raised shares of Ryan Specialty to a “hold” rating in a report on Wednesday, August 13th. Finally, The Goldman Sachs Group lowered their price target on Ryan Specialty from $71.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.54.

Ryan Specialty Trading Down 0.8%

Shares of RYAN opened at $56.79 on Friday. The stock has a market capitalization of $14.98 billion, a P/E ratio of 123.46, a PEG ratio of 1.61 and a beta of 0.62. Ryan Specialty Holdings Inc. has a twelve month low of $50.08 and a twelve month high of $77.16. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 2.72. The firm has a fifty day simple moving average of $54.49 and a two-hundred day simple moving average of $61.19.

Ryan Specialty (NYSE:RYAN) last posted its earnings results on Thursday, October 30th. The company reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.47. The company had revenue of $754.58 million during the quarter, compared to analyst estimates of $742.35 million. Ryan Specialty had a net margin of 7.61% and a return on equity of 47.93%. Ryan Specialty’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share. On average, research analysts anticipate that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current year.

Ryan Specialty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th will be given a $0.12 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.48 annualized dividend and a dividend yield of 0.8%. Ryan Specialty’s dividend payout ratio is currently 104.35%.

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.