Sumitomo Mitsui Trust Group Inc. Sells 95,712 Shares of Ryan Specialty Holdings Inc. $RYAN

Key Points

• Sumitomo Mitsui Trust Group cut its Ryan Specialty stake by 7.5%, selling 95,712 shares in the third quarter; it retained 1,173,698 shares valued at about $43.4 million.
• Ryan Specialty reported quarterly EPS of $0.51, beating estimates by $0.02, while revenue of $789.96 million came in slightly below forecasts. The company declared a quarterly dividend of $0.13 per share.
• Analysts hold a consensus “Hold” rating, with an average price target of $52.15; 84.82% of shares are owned by institutional investors.

Sumitomo Mitsui Trust Group Inc. cut its stake in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 7.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,173,698 shares of the company's stock after selling 95,712 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.46% of Ryan Specialty worth $43,427,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of RYAN. Vise Technologies Inc. grew its holdings in Ryan Specialty by 189.0% during the 3rd quarter. Vise Technologies Inc. now owns 24,941 shares of the company's stock worth $923,000 after acquiring an additional 16,311 shares during the last quarter. Motley Fool Asset Management LLC bought a new position in Ryan Specialty in the third quarter worth approximately $3,952,000. Compass Ion Advisors LLC bought a new position in shares of Ryan Specialty in the third quarter valued at approximately $297,000. Signaturefd LLC increased its stake in Ryan Specialty by 12.1% in the 3rd quarter. Signaturefd LLC now owns 5,450 shares of the company's stock valued at $202,000 after buying an additional 587 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new position in Ryan Specialty in the third quarter worth $312,000. 84.82% of the stock is owned by institutional investors.

Ryan Specialty Price Performance

RYAN opened at $47.45 on Thursday. The company has a fifty day moving average price of $40.56 and a two-hundred day moving average price of $39.10. The firm has a market capitalization of $12.14 billion, a PE ratio of 58.59, a P/E/G ratio of 0.97 and a beta of 0.54. Ryan Specialty Holdings Inc. has a 52 week low of $29.28 and a 52 week high of $58.94. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.00 and a current ratio of 1.01.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.02. The firm had revenue of $789.96 million for the quarter, compared to analyst estimates of $792.99 million. Ryan Specialty had a net margin of 8.25% and a return on equity of 47.77%. During the same period in the prior year, the firm posted $0.47 earnings per share. As a group, analysts anticipate that Ryan Specialty Holdings Inc. will post 2.17 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, November 10th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.52 annualized dividend and a yield of 1.1%. Ryan Specialty's payout ratio is currently 64.20%.

Wall Street Analyst Weigh In

RYAN has been the topic of a number of research analyst reports. Wolfe Research cut Ryan Specialty from an "outperform" rating to a "peer perform" rating in a report on Thursday, July 9th. The Goldman Sachs Group boosted their price target on shares of Ryan Specialty from $40.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, July 31st. Barclays increased their price target on Ryan Specialty from $46.00 to $48.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. JPMorgan Chase & Co. upped their price target on shares of Ryan Specialty from $39.00 to $45.00 and gave the company an "underweight" rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company raised their price objective on Ryan Specialty from $41.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Monday. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $52.15.

Ryan Specialty Company Profile

Ryan Specialty Holdings, Inc is a specialty insurance services company that provides wholesale brokerage, managing general underwriting and delegated authority solutions. The company works with retail insurance brokers, agents, carriers and other market participants to place and manage complex, specialty risks that may require specialized underwriting expertise or customized coverage.

Its business includes specialty insurance and reinsurance brokerage, underwriting management and insurance program administration.

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