Montrusco Bolton Investments Inc. Sells 672,046 Shares of Ryan Specialty Holdings Inc. $RYAN

Key Points

• Montrusco Bolton Investments cut its Ryan Specialty stake by 25% in the third quarter, selling 672,046 shares and retaining 2,016,985 shares worth approximately $74.6 million. Institutional investors collectively own 84.82% of the company.
• Ryan Specialty shares recently traded at $37.90, with a market capitalization of $9.7 billion and a 52-week range of $29.28 to $58.94. The company pays a quarterly dividend of $0.13, representing a 1.4% annualized yield.
• The company exceeded quarterly earnings expectations, reporting $0.74 per share versus a $0.60 consensus estimate and revenue of $916.65 million. Analysts maintain an overall “Hold” rating with a consensus price target of $52.21.

Montrusco Bolton Investments Inc. lessened its holdings in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 25.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,016,985 shares of the company's stock after selling 672,046 shares during the quarter. Ryan Specialty makes up 1.2% of Montrusco Bolton Investments Inc.'s investment portfolio, making the stock its 26th largest holding. Montrusco Bolton Investments Inc. owned 0.79% of Ryan Specialty worth $74,628,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RYAN. GAMMA Investing LLC boosted its holdings in shares of Ryan Specialty by 30.5% during the third quarter. GAMMA Investing LLC now owns 2,749 shares of the company's stock worth $102,000 after purchasing an additional 642 shares during the period. Farther Finance Advisors LLC lifted its position in Ryan Specialty by 464.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,599 shares of the company's stock worth $133,000 after buying an additional 2,961 shares in the last quarter. Fenimore Asset Management Inc lifted its position in Ryan Specialty by 1.8% in the 3rd quarter. Fenimore Asset Management Inc now owns 1,330,600 shares of the company's stock worth $49,232,000 after buying an additional 23,994 shares in the last quarter. Confluence Investment Management LLC lifted its position in Ryan Specialty by 64.6% in the 3rd quarter. Confluence Investment Management LLC now owns 311,140 shares of the company's stock worth $11,512,000 after buying an additional 122,139 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of Ryan Specialty during the 2nd quarter valued at $351,000. 84.82% of the stock is owned by hedge funds and other institutional investors.

Ryan Specialty Stock Up 1.8%

Shares of NYSE RYAN traded up $0.65 during mid-day trading on Tuesday, reaching $37.90. 1,262,022 shares of the company traded hands, compared to its average volume of 2,210,482. The company's fifty day moving average is $40.66 and its two-hundred day moving average is $37.68. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.00 and a current ratio of 1.00. Ryan Specialty Holdings Inc. has a fifty-two week low of $29.28 and a fifty-two week high of $58.94. The stock has a market cap of $9.70 billion, a PE ratio of 52.64, a price-to-earnings-growth ratio of 0.74 and a beta of 0.61.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.14. The firm had revenue of $916.65 million during the quarter, compared to analyst estimates of $873.93 million. Ryan Specialty had a return on equity of 43.97% and a net margin of 7.55%. The company's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 EPS. On average, analysts expect that Ryan Specialty Holdings Inc. will post 2.17 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th were given a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.4%. Ryan Specialty's dividend payout ratio (DPR) is currently 72.22%.

Analyst Upgrades and Downgrades

RYAN has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their price target on shares of Ryan Specialty from $48.00 to $54.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Wolfe Research lowered Ryan Specialty from an "outperform" rating to a "peer perform" rating in a research report on Thursday, July 9th. Mizuho cut their price target on Ryan Specialty from $43.00 to $40.00 and set a "neutral" rating for the company in a research note on Wednesday, October 7th. Citigroup raised their price target on Ryan Specialty from $50.00 to $53.50 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Finally, Barclays lifted their price target on Ryan Specialty from $46.00 to $48.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $52.21.

About Ryan Specialty

Ryan Specialty Holdings, Inc is a specialty insurance services company that supports insurance brokers, agents, carriers and other industry participants. Its businesses focus on areas of the market that often require specialized underwriting expertise, distribution capabilities and risk-management knowledge.

The company operates through wholesale brokerage, underwriting management and delegated authority platforms. Its products and services address a range of specialty lines, including property and casualty insurance, professional liability, cyber coverage, transactional risk, transportation, environmental risks and other complex or hard-to-place exposures.

Ryan Specialty was founded in 2010 by Patrick G.

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