Shell Asset Management Co. Decreases Holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Posted by Defense World Staff on Mar 2nd, 2023

Shell Asset Management Co. cut its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN – Get Rating) by 20.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,065 shares of the company’s stock after selling 805 shares during the period. Shell Asset Management Co.’s holdings in Ryan Specialty were worth $125,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in Ryan Specialty by 524.8% during the 1st quarter. Royal Bank of Canada now owns 781 shares of the company’s stock valued at $31,000 after buying an additional 656 shares during the last quarter. American International Group Inc. purchased a new stake in Ryan Specialty during the 2nd quarter valued at $50,000. Quantbot Technologies LP purchased a new stake in Ryan Specialty during the 2nd quarter valued at $51,000. Tower Research Capital LLC TRC increased its stake in shares of Ryan Specialty by 340.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock worth $74,000 after purchasing an additional 1,409 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of Ryan Specialty in the 3rd quarter worth $112,000. 26.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RYAN has been the subject of several analyst reports. Citigroup initiated coverage on Ryan Specialty in a research note on Wednesday, December 14th. They issued a “neutral” rating and a $42.00 price objective for the company. Barclays reduced their price objective on Ryan Specialty to $49.00 in a research note on Wednesday, November 16th. UBS Group reduced their price objective on Ryan Specialty to $48.00 in a research note on Wednesday, November 16th. JPMorgan Chase & Co. reduced their price objective on Ryan Specialty from $40.00 to $39.00 in a research note on Friday, November 11th. Finally, Wells Fargo & Company upped their target price on shares of Ryan Specialty from $47.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $46.38.

Ryan Specialty Trading Down 1.8 %

Shares of Ryan Specialty stock opened at $41.38 on Thursday. The company has a market capitalization of $10.74 billion, a P/E ratio of 89.96 and a beta of 0.47. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.27 and a current ratio of 1.27. The company has a fifty day moving average of $42.24 and a 200 day moving average of $41.71. Ryan Specialty Holdings, Inc. has a fifty-two week low of $32.13 and a fifty-two week high of $46.40.

Ryan Specialty 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.