Daiwa Securities Group Inc. Sells 22,006 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Daiwa Securities Group Inc. decreased its holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 18.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 98,596 shares of the company’s stock after selling 22,006 shares during the period. Daiwa Securities Group Inc.’s holdings in Ryan Specialty were worth $5,710,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RYAN. GAMMA Investing LLC boosted its position in Ryan Specialty by 96.4% during the second quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock valued at $35,000 after buying an additional 297 shares during the period. Crewe Advisors LLC purchased a new stake in Ryan Specialty during the 2nd quarter valued at about $39,000. Intelligent Financial Strategies bought a new position in Ryan Specialty during the 1st quarter worth approximately $44,000. Benjamin F. Edwards & Company Inc. purchased a new position in Ryan Specialty in the 1st quarter worth approximately $45,000. Finally, Rothschild Investment LLC bought a new stake in Ryan Specialty in the second quarter valued at approximately $87,000. Institutional investors own 84.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on RYAN. The Goldman Sachs Group lifted their target price on shares of Ryan Specialty from $58.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. upped their price objective on shares of Ryan Specialty from $54.00 to $56.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Wells Fargo & Company raised their target price on Ryan Specialty from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Citigroup upped their price target on Ryan Specialty from $56.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Barclays began coverage on Ryan Specialty in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $76.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Ryan Specialty currently has an average rating of “Hold” and an average price target of $63.40.

Insider Activity

In related news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $65.18, for a total value of $1,709,866.94. Following the sale, the executive vice president now owns 24,845 shares in the company, valued at approximately $1,619,397.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 1,500 shares of Ryan Specialty stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $65.02, for a total value of $97,530.00. Following the completion of the transaction, the director now directly owns 25,123 shares of the company’s stock, valued at $1,633,497.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $65.18, for a total transaction of $1,709,866.94. Following the sale, the executive vice president now owns 24,845 shares in the company, valued at approximately $1,619,397.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,107,136 shares of company stock worth $131,860,032. Insiders own 11.10% of the company’s stock.

Ryan Specialty Trading Down 2.0 %

NYSE RYAN opened at $62.64 on Thursday. The firm has a market capitalization of $16.38 billion, a PE ratio of 118.19, a P/E/G ratio of 1.51 and a beta of 0.62. The stock’s 50 day moving average is $62.14 and its 200 day moving average is $56.64. Ryan Specialty Holdings, Inc. has a twelve month low of $41.49 and a twelve month high of $69.03. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.81.

Ryan Specialty (NYSE:RYAN) last announced its earnings results on Thursday, August 1st. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. Ryan Specialty had a net margin of 10.21% and a return on equity of 48.08%. The firm had revenue of $695.40 million for the quarter, compared to analysts’ expectations of $695.56 million. During the same quarter in the previous year, the business posted $0.45 EPS. The company’s quarterly revenue was up 18.9% on a year-over-year basis. Research analysts forecast that Ryan Specialty Holdings, Inc. will post 1.81 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Tuesday, August 13th. Ryan Specialty’s dividend payout ratio is 83.02%.

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.