Victory Capital Management Inc. Reduces Stock Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Victory Capital Management Inc. trimmed its holdings in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 21.3% in the third quarter, Holdings Channel reports. The institutional investor owned 947,223 shares of the company’s stock after selling 256,460 shares during the period. Victory Capital Management Inc.’s holdings in Ryan Specialty were worth $62,886,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hollencrest Capital Management acquired a new position in shares of Ryan Specialty in the 3rd quarter valued at $25,000. Assetmark Inc. acquired a new position in Ryan Specialty in the third quarter valued at $34,000. GAMMA Investing LLC grew its holdings in shares of Ryan Specialty by 96.4% during the second quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock worth $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 about $39,000. Finally, Rothschild Investment LLC purchased a new stake in shares of Ryan Specialty in the 2nd quarter valued at about $87,000. 84.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RYAN has been the topic of a number of research reports. Bank of America raised their price target on Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company lifted their target price on shares of Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Barclays assumed 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 for the company. The Goldman Sachs Group lifted their price objective on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their price target on Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $70.33.

Insider Transactions at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $65.15, for a total transaction of $2,280,250.00. Following the completion of the transaction, the director now directly owns 9,115 shares of the company’s stock, valued at approximately $593,842.25. The trade was a 79.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Mark Stephen Katz sold 14,790 shares of the company’s 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 sale, the executive vice president now directly owns 12,386 shares in the company, valued at $884,236.54. This trade represents a 54.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,193 shares of company stock valued at $6,208,493 in the last ninety days. 11.10% of the stock is currently owned by company insiders.

Ryan Specialty Trading Down 1.2 %

NYSE RYAN opened at $70.88 on Friday. Ryan Specialty Holdings, Inc. has a 52-week low of $41.49 and a 52-week high of $73.10. The firm has a 50-day moving average price of $68.14 and a 200 day moving average price of $61.66. The stock has a market capitalization of $18.56 billion, a P/E ratio of 92.05, a P/E/G ratio of 1.63 and a beta of 0.62. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 EPS 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 business had revenue of $604.69 million during the quarter, compared to analysts’ expectations of $602.04 million. During the same period last year, the firm earned $0.32 EPS. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. Equities research analysts expect that Ryan Specialty Holdings, Inc. will post 1.8 EPS for the current year.

Ryan Specialty Dividend Announcement

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