Jennison Associates LLC Acquires 385,366 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Jennison Associates LLC raised its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 60.2% in the 3rd quarter, Holdings Channel reports. The firm owned 1,025,063 shares of the company’s stock after purchasing an additional 385,366 shares during the quarter. Jennison Associates LLC’s holdings in Ryan Specialty were worth $68,054,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RYAN. Hollencrest Capital Management bought a new position in shares of Ryan Specialty during the third quarter worth about $25,000. Assetmark Inc. acquired a new position in shares of Ryan Specialty in the 3rd quarter worth approximately $34,000. GAMMA Investing LLC boosted its stake in shares of Ryan Specialty by 96.4% in the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock valued at $35,000 after purchasing an additional 297 shares during the last quarter. Crewe Advisors LLC acquired a new stake in shares of Ryan Specialty during the second quarter worth $39,000. Finally, Rothschild Investment LLC bought a new position in Ryan Specialty during the second quarter worth $87,000. 84.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Ryan Specialty news, EVP Mark Stephen Katz sold 14,790 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the sale, the executive vice president now owns 12,386 shares of the company’s stock, valued at $884,236.54. The trade was a 54.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nicholas Dominic Cortezi sold 1,703 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $64.66, for a total value of $110,115.98. Following the sale, the director now owns 3,800 shares in the company, valued at approximately $245,708. This represents a 30.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,193 shares of company stock valued at $1,664,093 in the last ninety days. 11.10% of the stock is currently owned by insiders.

Ryan Specialty Stock Performance

Shares of RYAN stock opened at $70.88 on Thursday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50-day moving average of $68.71 and a 200-day moving average of $62.29. Ryan Specialty Holdings, Inc. has a one year low of $41.49 and a one year high of $73.10. The company has a market cap of $18.56 billion, a P/E ratio of 92.05, a P/E/G ratio of 1.60 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The firm 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. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. Equities research analysts forecast that Ryan Specialty Holdings, Inc. will post 1.8 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be given a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.44 annualized dividend and a yield of 0.62%. Ryan Specialty’s dividend payout ratio is currently 57.14%.

Analysts Set New Price Targets

A number of analysts have commented on RYAN shares. Barclays started coverage on shares of Ryan Specialty in a research report on Wednesday, September 4th. They set an “overweight” rating and a $76.00 price target on the stock. Wells Fargo & Company raised their target price on Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group boosted their price target on Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. UBS Group lifted their price objective on shares of Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. increased their target price on shares of Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $70.33.

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.