Penserra Capital Management LLC Invests $937,000 in Ryan Specialty Holdings Inc. (NYSE:RYAN)

Penserra Capital Management LLC purchased a new stake in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 12,693 shares of the company's stock, valued at approximately $937,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Ryan Specialty by 21.8% in the 1st quarter. GAMMA Investing LLC now owns 2,101 shares of the company's stock valued at $155,000 after acquiring an additional 376 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Ryan Specialty by 6,911.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 785,928 shares of the company's stock worth $48,036,000 after buying an additional 774,718 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Ryan Specialty by 3.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,215 shares of the company's stock worth $902,000 after buying an additional 460 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Ryan Specialty by 982.1% in the 4th quarter. Jones Financial Companies Lllp now owns 1,450 shares of the company's stock worth $93,000 after buying an additional 1,316 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Ryan Specialty by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 974,451 shares of the company's stock worth $62,521,000 after buying an additional 36,264 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Ryan Specialty from $65.00 to $63.00 and set an "equal weight" rating on the stock in a report on Thursday. Keefe, Bruyette & Woods reduced their target price on shares of Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley boosted their target price on shares of Ryan Specialty from $78.00 to $80.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. TD Cowen assumed coverage on shares of Ryan Specialty in a report on Thursday, April 10th. They issued a "buy" rating and a $89.00 target price on the stock. Finally, Barclays reduced their target price on shares of Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $75.00.

Ryan Specialty Trading Down 1.2%

NYSE:RYAN traded down $0.80 during mid-day trading on Friday, hitting $63.84. 601,707 shares of the stock traded hands, compared to its average volume of 922,527. The stock has a market capitalization of $16.75 billion, a price-to-earnings ratio of 187.77, a PEG ratio of 1.72 and a beta of 0.66. Ryan Specialty Holdings Inc. has a 52 week low of $55.95 and a 52 week high of $77.16. The firm's 50 day moving average is $68.08 and its two-hundred day moving average is $68.11. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 3.45.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. The company had revenue of $690.17 million during the quarter, compared to analysts' expectations of $680.80 million. Ryan Specialty had a net margin of 6.97% and a return on equity of 47.70%. The firm's quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 EPS. On average, equities research analysts predict that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were given a $0.12 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $0.48 annualized dividend and a yield of 0.75%. Ryan Specialty's dividend payout ratio (DPR) is 141.18%.

Insider Activity

In other Ryan Specialty news, Director David P. Bolger sold 5,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $70.80, for a total value of $354,000.00. Following the completion of the sale, the director directly owned 71,467 shares of the company's stock, valued at $5,059,863.60. The trade was a 6.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Stephen Katz sold 14,377 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $65.84, for a total transaction of $946,581.68. Following the completion of the sale, the executive vice president directly owned 1,117 shares of the company's stock, valued at approximately $73,543.28. This trade represents a 92.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 52.21% of the stock is owned by insiders.

Ryan Specialty Profile

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.