Zacks Investment Management Raises Stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Zacks Investment Management raised its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 2.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,937 shares of the company’s stock after buying an additional 2,259 shares during the quarter. Zacks Investment Management’s holdings in Ryan Specialty were worth $6,925,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of RYAN. Rakuten Securities Inc. bought a new stake in Ryan Specialty during the 4th quarter worth approximately $27,000. Principal Securities Inc. increased its holdings in shares of Ryan Specialty by 164.7% in the fourth quarter. Principal Securities Inc. now owns 667 shares of the company’s stock worth $43,000 after purchasing an additional 415 shares during the period. Mizuho Bank Ltd. purchased a new stake in shares of Ryan Specialty in the fourth quarter worth $49,000. Headlands Technologies LLC boosted its stake in Ryan Specialty by 2,644.8% during the fourth quarter. Headlands Technologies LLC now owns 796 shares of the company’s stock valued at $51,000 after buying an additional 767 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in Ryan Specialty during the fourth quarter worth about $54,000. 84.82% of the stock is currently owned by institutional investors.

Insider Transactions at Ryan Specialty

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 31,409 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $65.64, for a total transaction of $2,061,686.76. Following the completion of the sale, the director now directly owns 2,697 shares in the company, valued at approximately $177,031.08. The trade was a 92.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brendan Martin Mulshine sold 30,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $69.30, for a total transaction of $2,079,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 176,894 shares of company stock valued at $11,779,720 in the last ninety days. 11.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on RYAN shares. Wells Fargo & Company dropped their price target on Ryan Specialty from $69.00 to $66.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. UBS Group increased their price target on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Royal Bank of Canada dropped their price objective on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. Barclays lowered their price target on Ryan Specialty from $88.00 to $83.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Finally, Keefe, Bruyette & Woods cut their price objective on Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Ryan Specialty currently has a consensus rating of “Hold” and an average target price of $75.67.

Ryan Specialty Price Performance

Shares of Ryan Specialty stock opened at $72.12 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. The firm has a market cap of $18.89 billion, a PE ratio of 104.52, a price-to-earnings-growth ratio of 1.19 and a beta of 0.66. Ryan Specialty Holdings, Inc. has a 12-month low of $48.48 and a 12-month high of $77.16. The company’s fifty day simple moving average is $70.33 and its two-hundred day simple moving average is $68.99.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.02). Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The company had revenue of $663.53 million during the quarter, compared to the consensus estimate of $658.80 million. As a group, equities analysts expect that Ryan Specialty Holdings, Inc. will post 2.29 EPS for the current year.

Ryan Specialty Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.48 annualized dividend and a yield of 0.67%. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.11. Ryan Specialty’s payout ratio is presently 69.57%.

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.