Jackson Square Partners LLC Sells 243,369 Shares of Ryan Specialty Holdings Inc. $RYAN

Jackson Square Partners LLC reduced its holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 87.1% in the second quarter, HoldingsChannel reports. The firm owned 36,086 shares of the company’s stock after selling 243,369 shares during the period. Jackson Square Partners LLC’s holdings in Ryan Specialty were worth $2,453,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RYAN. AGF Management Ltd. increased its stake in Ryan Specialty by 11.1% in the second quarter. AGF Management Ltd. now owns 43,276 shares of the company’s stock valued at $2,942,000 after purchasing an additional 4,312 shares in the last quarter. Golden State Wealth Management LLC grew its position in Ryan Specialty by 10,975.0% in the 2nd 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. State of Michigan Retirement System increased its stake in Ryan Specialty by 1.6% during the 2nd quarter. State of Michigan Retirement System now owns 25,900 shares of the company’s stock valued at $1,761,000 after purchasing an additional 400 shares in the last quarter. Mesirow Financial Investment Management Inc. acquired a new position in Ryan Specialty during the second quarter worth $295,000. Finally, Amalgamated Bank lifted its stake in shares of Ryan Specialty by 2.5% in the second quarter. Amalgamated Bank now owns 51,453 shares of the company’s stock valued at $3,498,000 after buying an additional 1,276 shares in the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Ryan Specialty Stock Up 1.8%

RYAN stock opened at $57.95 on Friday. The stock has a 50-day simple moving average of $54.36 and a two-hundred day simple moving average of $61.50. Ryan Specialty Holdings Inc. has a twelve month low of $50.08 and a twelve month high of $77.16. The firm has a market capitalization of $15.28 billion, a PE ratio of 125.99, a PEG ratio of 1.60 and a beta of 0.62. The company has a quick ratio of 1.01, a current ratio of 1.00 and a debt-to-equity ratio of 2.72.

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 company had revenue of $754.58 million for the quarter, compared to the consensus estimate of $742.35 million. Ryan Specialty had a return on equity of 47.93% and a net margin of 7.61%.The firm’s revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 earnings per share. On average, equities analysts predict that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.48 annualized dividend and a dividend yield of 0.8%. Ryan Specialty’s dividend payout ratio (DPR) is currently 104.35%.

Insider Buying and Selling

In related news, Chairman Patrick G. Ryan acquired 276,634 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were purchased at an average price of $51.84 per share, for a total transaction of $14,340,706.56. Following the completion of the acquisition, the chairman owned 13,699,959 shares in the company, valued at approximately $710,205,874.56. This represents a 2.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 52.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RYAN shares. Keefe, Bruyette & Woods decreased their price objective on Ryan Specialty from $73.00 to $65.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Citigroup started coverage on Ryan Specialty in a report on Wednesday, August 13th. They set a “buy” rating and a $74.00 price target for the company. Wolfe Research upgraded Ryan Specialty to a “strong-buy” rating in a research note on Tuesday, September 16th. The Goldman Sachs Group reduced their target price on shares of Ryan Specialty from $71.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, Cantor Fitzgerald raised shares of Ryan Specialty to a “hold” rating in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.54.

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.