Ryan Specialty Holdings, Inc. (NYSE:RYAN) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its position in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 35.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 774,833 shares of the company’s stock after selling 421,390 shares during the quarter. Jennison Associates LLC’s holdings in Ryan Specialty were worth $33,333,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. National Bank of Canada FI bought a new position in shares of Ryan Specialty in the third quarter valued at approximately $1,106,000. UMB Bank n.a. bought a new stake in Ryan Specialty during the third quarter worth approximately $133,000. Oak Thistle LLC bought a new stake in Ryan Specialty during the third quarter worth approximately $846,000. Handelsbanken Fonder AB boosted its holdings in Ryan Specialty by 18.7% during the third quarter. Handelsbanken Fonder AB now owns 10,800 shares of the company’s stock worth $523,000 after buying an additional 1,700 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in Ryan Specialty by 637.8% during the third quarter. Raymond James & Associates now owns 42,318 shares of the company’s stock worth $2,048,000 after buying an additional 36,582 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Ryan Specialty from $47.00 to $49.00 and gave the stock an “underweight” rating in a report on Monday, April 8th. Wells Fargo & Company upped their price target on shares of Ryan Specialty from $57.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Citigroup upped their price target on shares of Ryan Specialty from $49.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Keefe, Bruyette & Woods upped their price target on shares of Ryan Specialty from $56.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Finally, JMP Securities restated a “market perform” rating on shares of Ryan Specialty in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $54.25.

Ryan Specialty Stock Down 0.6 %

RYAN stock opened at $50.77 on Thursday. Ryan Specialty Holdings, Inc. has a 12-month low of $39.44 and a 12-month high of $56.51. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.98. The company has a market cap of $13.21 billion, a price-to-earnings ratio of 99.55 and a beta of 0.52. The company has a 50 day moving average of $51.94 and a two-hundred day moving average of $46.94.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $532.90 million for the quarter, compared to the consensus estimate of $524.08 million. Ryan Specialty had a net margin of 9.36% and a return on equity of 44.84%. Ryan Specialty’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 EPS. On average, equities analysts anticipate that Ryan Specialty Holdings, Inc. will post 1.77 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The firm also recently declared a None dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 13th were issued a dividend of $0.34 per share. The ex-dividend date was Tuesday, March 12th. Ryan Specialty’s dividend payout ratio is currently 86.28%.

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.