State of New Jersey Common Pension Fund D Lowers Holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

State of New Jersey Common Pension Fund D trimmed its position in Ryan Specialty Holdings, Inc. (NYSE:RYANGet Rating) by 6.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 65,727 shares of the company’s stock after selling 4,594 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Ryan Specialty were worth $2,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oak Family Advisors LLC grew its position in Ryan Specialty by 52.4% in the 1st quarter. Oak Family Advisors LLC now owns 78,982 shares of the company’s stock valued at $3,064,000 after buying an additional 27,151 shares during the last quarter. Torray LLC grew its position in Ryan Specialty by 31.4% in the 1st quarter. Torray LLC now owns 41,206 shares of the company’s stock valued at $1,598,000 after buying an additional 9,856 shares during the last quarter. Cannon Global Investment Management LLC purchased a new position in Ryan Specialty in the 1st quarter valued at $811,000. Atria Investments LLC lifted its holdings in Ryan Specialty by 20.1% in the first quarter. Atria Investments LLC now owns 122,867 shares of the company’s stock valued at $4,766,000 after acquiring an additional 20,593 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new stake in Ryan Specialty in the first quarter valued at $26,000. 25.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ryan Specialty

In other news, Director David P. Bolger sold 28,103 shares of Ryan Specialty stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $35.49, for a total transaction of $997,375.47. Following the completion of the transaction, the director now owns 95,784 shares of the company’s stock, valued at approximately $3,399,374.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, President Timothy William Turner sold 352,697 shares of the business’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $36.90, for a total value of $13,014,519.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David P. Bolger sold 28,103 shares of the business’s stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $35.49, for a total transaction of $997,375.47. Following the completion of the transaction, the director now directly owns 95,784 shares of the company’s stock, valued at approximately $3,399,374.16. The disclosure for this sale can be found here. Corporate insiders own 54.30% of the company’s stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised Ryan Specialty from a “neutral” rating to a “buy” rating and set a $47.00 target price for the company in a report on Tuesday, July 12th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $38.50.

Ryan Specialty Stock Performance

NYSE:RYAN opened at $42.48 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 3.14. Ryan Specialty Holdings, Inc. has a 52-week low of $28.02 and a 52-week high of $43.67. The stock has a fifty day simple moving average of $38.64 and a 200-day simple moving average of $38.31.

Ryan Specialty (NYSE:RYANGet Rating) last released its quarterly earnings results on Thursday, May 12th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.03. The business had revenue of $386.89 million during the quarter, compared to the consensus estimate of $372.45 million. Ryan Specialty had a return on equity of 61.16% and a net margin of 5.21%. Equities research analysts predict that Ryan Specialty Holdings, Inc. will post 1.22 earnings per share for the current year.

Ryan Specialty Company Profile

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Ryan Specialty Group Holdings, Inc operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers. It offers distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter.

See Also

Want to see what other hedge funds are holding RYAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ryan Specialty Holdings, Inc. (NYSE:RYANGet Rating).

Institutional Ownership by Quarter for Ryan Specialty (NYSE:RYAN)

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