Synovus Financial Corp Has $3.31 Million Stock Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Synovus Financial Corp lessened its position in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 9.7% in the third quarter, HoldingsChannel reports. The fund owned 49,790 shares of the company’s stock after selling 5,333 shares during the quarter. Synovus Financial Corp’s holdings in Ryan Specialty were worth $3,306,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of RYAN. State Street Corp grew its position in Ryan Specialty by 1.5% in the 3rd quarter. State Street Corp now owns 3,273,093 shares of the company’s stock valued at $217,301,000 after purchasing an additional 49,198 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Ryan Specialty by 0.4% in the third quarter. Janus Henderson Group PLC now owns 3,148,916 shares of the company’s stock valued at $209,058,000 after buying an additional 13,986 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of Ryan Specialty by 3.4% during the second quarter. Blair William & Co. IL now owns 2,866,003 shares of the company’s stock valued at $165,970,000 after buying an additional 94,663 shares during the last quarter. Barclays PLC increased its position in shares of Ryan Specialty by 1.1% during the third quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock worth $108,994,000 after acquiring an additional 17,267 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in shares of Ryan Specialty by 32.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company’s stock worth $98,555,000 after acquiring an additional 335,180 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.

Insider Activity

In other news, EVP Mark Stephen Katz sold 14,790 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 12,386 shares of the company’s stock, valued at $884,236.54. This trade represents a 54.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David P. Bolger sold 7,055 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $70.88, for a total value of $500,058.40. Following the sale, the director now owns 78,149 shares in the company, valued at approximately $5,539,201.12. The trade was a 8.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.10% of the company’s stock.

Ryan Specialty Price Performance

RYAN opened at $67.60 on Friday. Ryan Specialty Holdings, Inc. has a fifty-two week low of $41.49 and a fifty-two week high of $75.97. The firm has a 50-day moving average of $70.87 and a 200 day moving average of $64.49. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $17.70 billion, a P/E ratio of 87.79, a PEG ratio of 1.54 and a beta of 0.67.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.41. The firm had revenue of $604.69 million during the quarter, compared to the consensus estimate of $602.04 million. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The company’s revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 EPS. On average, research analysts expect that Ryan Specialty Holdings, Inc. will post 1.82 EPS for the current year.

Ryan Specialty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.44 annualized dividend and a dividend yield of 0.65%. Ryan Specialty’s payout ratio is presently 57.14%.

Analyst Upgrades and Downgrades

RYAN has been the topic of several recent research reports. Wells Fargo & Company raised their price target on shares of Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Bank of America raised their target price on Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 10th. BMO Capital Markets upgraded Ryan Specialty from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $65.00 to $75.00 in a report on Tuesday, September 24th. Barclays raised their price objective on Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, The Goldman Sachs Group lifted their price objective on shares of Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $73.50.

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.