Mawer Investment Management Ltd. Sells 28,500 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

18 Nov 2024, 15:36 by Michael Walen · The Markets Daily

Mawer Investment Management Ltd. lowered its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN – Free Report) by 4.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 628,439 shares of the company’s stock after selling 28,500 shares during the quarter. Mawer Investment Management Ltd.’s holdings in Ryan Specialty were worth $41,722,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in RYAN. Securian Asset Management Inc. acquired a new position in Ryan Specialty during the 2nd quarter valued at about $474,000. Xponance Inc. raised its holdings in Ryan Specialty by 67.2% during the 2nd quarter. Xponance Inc. now owns 20,686 shares of the company’s stock worth $1,198,000 after buying an additional 8,312 shares during the period. Geneva Partners LLC acquired a new stake in Ryan Specialty during the 3rd quarter worth approximately $2,537,000. Susquehanna Fundamental Investments LLC raised its holdings in Ryan Specialty by 2,354.0% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 100,614 shares of the company’s stock worth $5,827,000 after buying an additional 96,514 shares during the period. Finally, Retirement Systems of Alabama bought a new position in shares of Ryan Specialty in the second quarter valued at $7,316,000. Institutional investors own 84.82% of the company’s stock.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, EVP Mark Stephen Katz sold 14,790 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the transaction, the executive vice president now directly owns 12,386 shares in the company, valued at approximately $884,236.54. This represents a 54.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nicholas Dominic Cortezi sold 1,703 shares of the stock in a transaction that occurred 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 transaction, the director now owns 3,800 shares in the company, valued at $245,708. The trade was a 30.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,193 shares of company stock valued at $3,944,343. 11.10% of the stock is currently owned by company insiders.

Ryan Specialty Trading Down 0.8 %

Shares of Ryan Specialty stock traded down $0.59 on Monday, hitting $70.35. The stock had a trading volume of 4,105 shares, compared to its average volume of 869,117. The stock has a 50 day moving average of $68.28 and a 200 day moving average of $61.97. Ryan Specialty Holdings, Inc. has a twelve month low of $41.49 and a twelve month 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 firm has a market capitalization of $18.42 billion, a P/E ratio of 92.13, a PEG ratio of 1.61 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN – Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share (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 company had revenue of $604.69 million during the quarter, compared to the consensus estimate of $602.04 million. During the same quarter in the prior year, the firm posted $0.32 earnings per share. The firm’s revenue was up 20.5% compared to the same quarter last year. Sell-side analysts expect that Ryan Specialty Holdings, Inc. will post 1.8 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The company 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. This represents a $0.44 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Tuesday, November 12th. Ryan Specialty’s dividend payout ratio is presently 57.14%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RYAN. The Goldman Sachs Group raised their price target on Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Citigroup raised their price target on Ryan Specialty from $56.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Wells Fargo & Company raised their price target on Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. BMO Capital Markets raised Ryan Specialty from a “market perform” rating to an “outperform” rating and raised their price target for the company from $65.00 to $75.00 in a report on Tuesday, September 24th. Finally, UBS Group lifted their target price on Ryan Specialty from $67.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $70.33.

Get Our Latest Report on RYAN

Ryan Specialty Company Profile

(Free Report)

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.