Sumitomo Mitsui Trust Group Inc. Acquires 4,907 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,235,114 shares of the company’s stock after purchasing an additional 4,907 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.47% of Ryan Specialty worth $79,245,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. State of Alaska Department of Revenue grew its position in shares of Ryan Specialty by 1.6% in the 4th quarter. State of Alaska Department of Revenue now owns 12,130 shares of the company’s stock valued at $778,000 after purchasing an additional 190 shares during the period. Retirement Systems of Alabama lifted its stake in Ryan Specialty by 4.1% in the fourth quarter. Retirement Systems of Alabama now owns 129,368 shares of the company’s stock valued at $8,300,000 after acquiring an additional 5,099 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in Ryan Specialty by 9.9% in the 4th quarter. DAVENPORT & Co LLC now owns 4,144 shares of the company’s stock valued at $266,000 after purchasing an additional 374 shares during the last quarter. R Squared Ltd bought a new position in shares of Ryan Specialty during the 4th quarter worth approximately $92,000. Finally, Pacer Advisors Inc. boosted its position in Ryan Specialty by 95.0% during the fourth quarter. Pacer Advisors Inc. now owns 29,098 shares of the company’s stock worth $1,867,000 after purchasing an additional 14,173 shares during the period. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 35,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $67.39, for a total value of $2,358,650.00. Following the completion of the sale, the director now directly owns 65,100 shares in the company, valued at approximately $4,387,089. This trade represents a 34.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David P. Bolger sold 7,055 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $5,539,201.12. This trade represents a 8.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 323,506 shares of company stock valued at $21,407,851. 11.10% of the stock is currently owned by insiders.

Ryan Specialty Stock Performance

Shares of RYAN stock opened at $68.24 on Monday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. Ryan Specialty Holdings, Inc. has a one year low of $42.68 and a one year high of $75.97. The business’s 50 day simple moving average is $66.12 and its 200 day simple moving average is $66.93. The stock has a market capitalization of $17.87 billion, a PE ratio of 88.63, a PEG ratio of 1.19 and a beta of 0.72.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RYAN shares. Barclays increased their target price on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Keefe, Bruyette & Woods cut their price target on shares of Ryan Specialty from $79.00 to $77.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Wells Fargo & Company reduced their price objective on Ryan Specialty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Finally, Morgan Stanley began coverage on shares of Ryan Specialty in a research note on Thursday, December 5th. They set an “overweight” rating and a $90.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Ryan Specialty currently has an average rating of “Hold” and an average target price of $74.40.

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.