CIBC Asset Management Inc Increases Stock Holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

CIBC Asset Management Inc lifted its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,674 shares of the company’s stock after purchasing an additional 196 shares during the quarter. CIBC Asset Management Inc’s holdings in Ryan Specialty were worth $236,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Sanctuary Advisors LLC boosted its holdings in shares of Ryan Specialty by 1.2% in the 4th quarter. Sanctuary Advisors LLC now owns 15,690 shares of the company’s stock worth $1,045,000 after purchasing an additional 188 shares during the period. Principal Financial Group Inc. lifted its stake in Ryan Specialty by 115.2% in the fourth quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company’s stock worth $117,619,000 after purchasing an additional 981,505 shares during the last quarter. Principal Securities Inc. lifted its stake in 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 last quarter. Rhumbline Advisers lifted its stake in Ryan Specialty by 2.3% in the fourth quarter. Rhumbline Advisers now owns 296,361 shares of the company’s stock worth $19,014,000 after purchasing an additional 6,627 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in Ryan Specialty by 3.9% in the fourth quarter. Louisiana State Employees Retirement System now owns 29,500 shares of the company’s stock worth $1,893,000 after purchasing an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on RYAN shares. Royal Bank of Canada decreased 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 research note on Friday, February 21st. Morgan Stanley started coverage on shares of Ryan Specialty in a research note on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price target on the stock. Barclays raised their price target on shares of 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 reduced their price target on shares of Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Finally, Wells Fargo & Company raised their price target on shares of Ryan Specialty from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $74.55.

Insider Buying and Selling

In other news, Director Nicholas Dominic Cortezi sold 35,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $66.71, for a total transaction of $2,334,850.00. Following the transaction, the director now owns 60,200 shares in the company, valued at $4,015,942. This represents a 36.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 316,451 shares of company stock worth $20,907,793 in the last 90 days. 11.10% of the stock is owned by corporate insiders.

Ryan Specialty Stock Up 2.3 %

Ryan Specialty stock opened at $68.97 on Wednesday. The business has a fifty day moving average of $65.66 and a two-hundred day moving average of $67.34. 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 $18.06 billion, a P/E ratio of 99.95, a P/E/G ratio of 1.19 and a beta of 0.72. Ryan Specialty Holdings, Inc. has a twelve month low of $46.57 and a twelve month high of $75.97.

Ryan Specialty (NYSE:RYAN) last posted its earnings results on Thursday, February 20th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The company had revenue of $663.53 million for the quarter, compared to analysts’ expectations of $658.80 million. Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. On average, analysts forecast that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Tuesday, March 4th. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.11. Ryan Specialty’s payout ratio is 69.57%.

About Ryan Specialty

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.