Ryan Specialty Holdings, Inc. (NYSE:RYAN) Holdings Lifted by Geneva Capital Management LLC

13 Nov 2024, 12:38 by Danessa Lincoln · The Markets Daily

Geneva Capital Management LLC increased its holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN – Free Report) by 3.5% in the 3rd quarter, Holdings Channel reports. The fund owned 516,416 shares of the company’s stock after purchasing an additional 17,442 shares during the period. Geneva Capital Management LLC’s holdings in Ryan Specialty were worth $34,285,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Hollencrest Capital Management purchased a new stake in shares of Ryan Specialty in the third quarter worth approximately $25,000. Assetmark Inc. purchased a new stake in Ryan Specialty in the 3rd quarter worth approximately $34,000. GAMMA Investing LLC lifted its position in Ryan Specialty by 96.4% in the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock worth $35,000 after buying an additional 297 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of Ryan Specialty during the 2nd quarter valued at $39,000. Finally, Rothschild Investment LLC acquired a new position in shares of Ryan Specialty in the second quarter worth $87,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Ryan Specialty Stock Performance

Shares of RYAN opened at $71.62 on Wednesday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. Ryan Specialty Holdings, Inc. has a one year low of $41.49 and a one year high of $73.10. The company’s fifty day moving average price is $67.85 and its 200 day moving average price is $61.53. The company has a market capitalization of $18.75 billion, a PE ratio of 93.01, a price-to-earnings-growth ratio of 1.63 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN – Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, hitting analysts’ consensus estimates of $0.41. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The business had revenue of $604.69 million for the quarter, compared to analyst estimates of $602.04 million. During the same period in the previous year, the company posted $0.32 earnings per share. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, analysts expect that Ryan Specialty Holdings, Inc. will post 1.8 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.44 annualized dividend and a dividend yield of 0.61%. Ryan Specialty’s payout ratio is 57.14%.

Insider Buying and Selling

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 2,325 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $64.60, for a total value of $150,195.00. Following the completion of the sale, the director now directly owns 3,463 shares of the company’s stock, valued at $223,709.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 2,325 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $64.60, for a total value of $150,195.00. Following the completion of the transaction, the director now owns 3,463 shares of the company’s stock, valued at $223,709.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Stephen Katz sold 14,790 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $71.39, for a total value of $1,055,858.10. Following the completion of the sale, the executive vice president now owns 12,386 shares of the company’s stock, valued at $884,236.54. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,693 shares of company stock valued at $6,306,023. 11.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

RYAN has been the subject of a number of research reports. Wells Fargo & Company lifted their price objective on Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Citigroup boosted their price target on Ryan Specialty from $56.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group raised their price objective on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Barclays began coverage on shares of Ryan Specialty in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $76.00 target price for the company. Finally, Bank of America increased their price target on shares of Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $70.33.

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