SevenBridge Financial Group LLC Lowers Stock Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

SevenBridge Financial Group LLC trimmed its holdings in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,813 shares of the company’s stock after selling 289 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Ryan Specialty were worth $387,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in shares of Ryan Specialty during the fourth quarter valued at about $94,484,000. Norges Bank purchased a new stake in Ryan Specialty during the fourth quarter valued at approximately $78,358,000. Principal Financial Group Inc. boosted its stake in Ryan Specialty by 115.2% in the fourth quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company’s stock valued at $117,619,000 after acquiring an additional 981,505 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in Ryan Specialty by 6,911.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 785,928 shares of the company’s stock worth $48,036,000 after purchasing an additional 774,718 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Ryan Specialty by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 9,880,504 shares of the company’s stock worth $633,933,000 after purchasing an additional 529,631 shares in the last quarter. Institutional investors own 84.82% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on RYAN. Morgan Stanley initiated coverage on Ryan Specialty in a research note on Thursday, December 5th. They set an “overweight” rating and a $90.00 target price on the stock. Keefe, Bruyette & Woods dropped their price target on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Royal Bank of Canada decreased their price objective on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company in a research report on Friday, February 21st. Wells Fargo & Company boosted their target price on shares of Ryan Specialty from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday, February 21st. Finally, UBS Group raised their price target on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Ryan Specialty presently has a consensus rating of “Hold” and an average price target of $75.27.

Insider Buying and Selling at Ryan Specialty

In other news, EVP Brendan Martin Mulshine sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $69.30, for a total value of $2,079,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $65.99, for a total value of $2,309,650.00. Following the transaction, the director now directly owns 35,609 shares of the company’s stock, valued at approximately $2,349,837.91. The trade was a 49.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 241,360 shares of company stock valued at $16,006,428. Corporate insiders own 11.10% of the company’s stock.

Ryan Specialty Stock Performance

Shares of RYAN stock opened at $75.14 on Thursday. Ryan Specialty Holdings, Inc. has a 52-week low of $48.48 and a 52-week high of $75.97. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. The stock has a market cap of $19.68 billion, a PE ratio of 108.90, a price-to-earnings-growth ratio of 1.19 and a beta of 0.71. The business has a 50-day simple moving average of $69.22 and a 200-day simple moving average of $68.51.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). The company had revenue of $663.53 million during the quarter, compared to analysts’ expectations of $658.80 million. Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. On average, equities analysts expect that Ryan Specialty Holdings, Inc. will post 2.29 EPS for the current year.

Ryan Specialty Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Tuesday, March 4th. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.11. Ryan Specialty’s dividend payout ratio (DPR) is currently 69.57%.

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.