Virtu Financial LLC Invests $263,000 in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Virtu Financial LLC bought a new stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 3,962 shares of the company’s stock, valued at approximately $263,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new stake in Ryan Specialty in the third quarter worth about $25,000. Assetmark Inc. purchased a new position in shares of Ryan Specialty in the 3rd quarter valued at approximately $34,000. Crewe Advisors LLC bought a new stake in shares of Ryan Specialty during the second quarter valued at approximately $39,000. Quarry LP grew its stake in Ryan Specialty by 109.3% in the third quarter. Quarry LP now owns 808 shares of the company’s stock worth $54,000 after purchasing an additional 422 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Ryan Specialty by 106.4% in the third quarter. GAMMA Investing LLC now owns 1,249 shares of the company’s stock worth $83,000 after purchasing an additional 644 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Insider Buying and Selling

In other Ryan Specialty news, Director David P. Bolger sold 7,055 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $70.88, for a total value of $500,058.40. Following the transaction, the director now directly owns 78,149 shares of the company’s stock, valued at approximately $5,539,201.12. This trade represents a 8.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Stephen Katz sold 14,790 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the sale, the executive vice president now directly owns 12,386 shares of the company’s stock, valued at $884,236.54. The trade was a 54.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,845 shares of company stock valued at $6,249,417 over the last 90 days. Company insiders own 11.10% of the company’s stock.

Ryan Specialty Trading Down 1.5 %

Ryan Specialty stock opened at $65.44 on Wednesday. Ryan Specialty Holdings, Inc. has a one year low of $41.57 and a one year high of $75.97. The business’s fifty day moving average is $70.69 and its 200 day moving average is $64.71. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $17.13 billion, a PE ratio of 84.99, a price-to-earnings-growth ratio of 1.52 and a beta of 0.67.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, hitting analysts’ consensus estimates of $0.41. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The firm had revenue of $604.69 million during the quarter, compared to analyst estimates of $602.04 million. During the same period in the previous year, the business posted $0.32 earnings per share. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, sell-side analysts predict that Ryan Specialty Holdings, Inc. will post 1.82 EPS for the current year.

Ryan Specialty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.67%. Ryan Specialty’s dividend payout ratio (DPR) is currently 57.14%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. BMO Capital Markets raised shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $65.00 to $75.00 in a research report on Tuesday, September 24th. The Goldman Sachs Group raised their target price on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Morgan Stanley started coverage on Ryan Specialty in a research report on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price target on the stock. Bank of America raised their price objective on Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Barclays boosted their target price on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $73.50.

Ryan Specialty Company 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.