Kennedy Capital Management LLC Sells 57,855 Shares of Ryan Specialty Holdings Inc. $RYAN

Kennedy Capital Management LLC lowered its holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 32.6% during the 2nd quarter, Holdings Channel reports. The firm owned 119,672 shares of the company’s stock after selling 57,855 shares during the period. Kennedy Capital Management LLC’s holdings in Ryan Specialty were worth $8,136,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. Invesco Ltd. raised its stake in shares of Ryan Specialty by 17.3% during the 2nd quarter. Invesco Ltd. now owns 1,865,325 shares of the company’s stock worth $126,823,000 after purchasing an additional 274,463 shares during the period. Quantbot Technologies LP grew its position in Ryan Specialty by 47.9% during the second quarter. Quantbot Technologies LP now owns 64,618 shares of the company’s stock valued at $4,393,000 after buying an additional 20,940 shares during the period. Railway Pension Investments Ltd increased its holdings in Ryan Specialty by 52.6% during the second quarter. Railway Pension Investments Ltd now owns 280,200 shares of the company’s stock worth $19,051,000 after buying an additional 96,600 shares during the last quarter. Grandeur Peak Global Advisors LLC raised its position in Ryan Specialty by 13.0% in the second quarter. Grandeur Peak Global Advisors LLC now owns 74,510 shares of the company’s stock worth $5,066,000 after acquiring an additional 8,565 shares during the period. Finally, Norges Bank purchased a new position in Ryan Specialty in the second quarter valued at about $88,305,000. 84.82% of the stock is owned by hedge funds and other institutional investors.

Ryan Specialty Price Performance

Shares of NYSE RYAN opened at $56.14 on Friday. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.00 and a current ratio of 1.00. Ryan Specialty Holdings Inc. has a fifty-two week low of $50.08 and a fifty-two week high of $77.16. The stock has a market cap of $14.81 billion, a PE ratio of 122.05, a price-to-earnings-growth ratio of 1.59 and a beta of 0.62. The stock has a fifty day moving average of $55.68 and a 200-day moving average of $60.05.

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

Ryan Specialty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, November 10th. Ryan Specialty’s dividend payout ratio (DPR) is 104.35%.

Insider Buying and Selling

In other news, Chairman Patrick G. Ryan bought 276,634 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were acquired at an average price of $51.84 per share, with a total value of $14,340,706.56. Following the acquisition, the chairman owned 13,699,959 shares of the company’s stock, valued at approximately $710,205,874.56. The trade was a 2.06% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 52.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on RYAN shares. Citigroup initiated coverage on shares of Ryan Specialty in a research note on Wednesday, August 13th. They set a “buy” rating and a $74.00 price target for the company. Cowen reissued a “buy” rating on shares of Ryan Specialty in a report on Wednesday, November 26th. Morgan Stanley boosted their target price on Ryan Specialty from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. UBS Group cut their price target on Ryan Specialty from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Finally, Barclays lowered their price objective on Ryan Specialty from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.60.

Ryan Specialty Company 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.