Penserra Capital Management LLC Sells 12,121 Shares of Ryan Specialty Holdings Inc. $RYAN

Penserra Capital Management LLC cut its holdings in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 95.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 572 shares of the company’s stock after selling 12,121 shares during the period. Penserra Capital Management LLC’s holdings in Ryan Specialty were worth $38,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of RYAN. Whittier Trust Co. of Nevada Inc. lifted its stake in Ryan Specialty by 281.6% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company’s stock valued at $25,000 after acquiring an additional 245 shares during the period. SVB Wealth LLC bought a new position in Ryan Specialty during the first quarter valued at approximately $26,000. Golden State Wealth Management LLC lifted its position in Ryan Specialty by 10,975.0% during the second quarter. Golden State Wealth Management LLC now owns 443 shares of the company’s stock valued at $30,000 after purchasing an additional 439 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Ryan Specialty in the second quarter worth approximately $31,000. Finally, WPG Advisers LLC purchased a new stake in Ryan Specialty during the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Ryan Specialty Price Performance

Shares of NYSE:RYAN opened at $56.79 on Friday. The firm’s 50 day simple moving average is $54.49 and its two-hundred day simple moving average is $61.19. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $14.98 billion, a P/E ratio of 123.46, a P/E/G ratio of 1.61 and a beta of 0.62. Ryan Specialty Holdings Inc. has a 1-year low of $50.08 and a 1-year high of $77.16.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Thursday, October 30th. The company reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. The company had revenue of $754.58 million for the quarter, compared to analysts’ expectations of $742.35 million. Ryan Specialty had a net margin of 7.61% and a return on equity of 47.93%. Ryan Specialty’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.41 EPS. Research analysts expect that Ryan Specialty Holdings Inc. will post 2.29 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 25th. Stockholders of record on Tuesday, November 11th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, November 10th. Ryan Specialty’s payout ratio is presently 104.35%.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, Chairman Patrick G. Ryan bought 276,634 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was purchased at an average price of $51.84 per share, for a total transaction of $14,340,706.56. Following the completion of the transaction, the chairman owned 13,699,959 shares of the company’s stock, valued at $710,205,874.56. This trade represents a 2.06% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 52.21% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on RYAN shares. Citigroup initiated coverage on Ryan Specialty in a research note on Wednesday, August 13th. They issued a “buy” rating and a $74.00 price target on the stock. Morgan Stanley cut their price target on Ryan Specialty from $68.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods reduced their price target on shares of Ryan Specialty from $73.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Ryan Specialty in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Ryan Specialty from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Ryan Specialty presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.54.

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.