Victory Capital Management Inc. Cuts Stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Victory Capital Management Inc. cut its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 21.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 947,223 shares of the company’s stock after selling 256,460 shares during the quarter. Victory Capital Management Inc. owned approximately 0.36% of Ryan Specialty worth $62,886,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RYAN. Janney Montgomery Scott LLC grew its holdings in shares of Ryan Specialty by 57.3% during the first quarter. Janney Montgomery Scott LLC now owns 12,136 shares of the company’s stock worth $674,000 after buying an additional 4,421 shares in the last quarter. Swiss National Bank grew its stake in Ryan Specialty by 1.7% during the 1st quarter. Swiss National Bank now owns 198,400 shares of the company’s stock valued at $11,011,000 after acquiring an additional 3,300 shares in the last quarter. Nicolet Advisory Services LLC acquired a new stake in Ryan Specialty in the 1st quarter valued at about $412,000. Champlain Investment Partners LLC lifted its stake in Ryan Specialty by 28.0% in the 1st quarter. Champlain Investment Partners LLC now owns 4,937,332 shares of the company’s stock worth $274,022,000 after purchasing an additional 1,079,505 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Ryan Specialty by 33.9% during the 1st quarter. Bessemer Group Inc. now owns 1,925,864 shares of the company’s stock worth $106,886,000 after purchasing an additional 488,067 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ryan Specialty

In other news, EVP Mark Stephen Katz sold 14,790 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $71.39, for a total value of $1,055,858.10. Following the sale, the executive vice president now directly owns 12,386 shares in the company, valued at approximately $884,236.54. This trade represents a 54.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $65.15, for a total value of $2,280,250.00. Following the transaction, the director now directly owns 9,115 shares of the company’s stock, valued at $593,842.25. The trade was a 79.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,193 shares of company stock valued at $6,208,493. 11.10% of the stock is currently owned by corporate insiders.

Ryan Specialty Stock Performance

NYSE:RYAN opened at $70.88 on Friday. Ryan Specialty Holdings, Inc. has a fifty-two week low of $41.49 and a fifty-two week high of $73.10. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. The company 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 PEG ratio of 1.63 and a beta of 0.62.

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

Ryan Specialty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders 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 yield of 0.62%. Ryan Specialty’s dividend payout ratio (DPR) is presently 57.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays started coverage on Ryan Specialty in a research report on Wednesday, September 4th. They set an “overweight” rating and a $76.00 price objective on the stock. Bank of America lifted their price target on Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. UBS Group upped their price objective on shares of Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Wells Fargo & Company lifted their target price on shares of Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Finally, BMO Capital Markets raised shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and increased their price target for the company from $65.00 to $75.00 in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.