Ryan Specialty Holdings, Inc. (NYSE:RYAN) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 16.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 898,865 shares of the company’s stock after purchasing an additional 129,354 shares during the period. Bank of New York Mellon Corp owned approximately 0.34% of Ryan Specialty worth $57,671,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Sanctuary Advisors LLC grew its position in Ryan Specialty by 1.2% during 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 in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Ryan Specialty by 1.6% during the fourth quarter. State of Alaska Department of Revenue now owns 12,130 shares of the company’s stock valued at $778,000 after buying an additional 190 shares in the last quarter. CIBC Asset Management Inc raised its position in Ryan Specialty by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 3,674 shares of the company’s stock valued at $236,000 after buying an additional 196 shares during the period. Loomis Sayles & Co. L P raised its position in Ryan Specialty by 26.3% during the third quarter. Loomis Sayles & Co. L P now owns 1,373 shares of the company’s stock valued at $91,000 after buying an additional 286 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in Ryan Specialty by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 11,760 shares of the company’s stock valued at $755,000 after buying an additional 295 shares during the period. 84.82% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 35,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $66.71, for a total transaction of $2,334,850.00. Following the completion of the sale, the director now owns 60,200 shares in the company, valued at $4,015,942. This represents a 36.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 316,451 shares of company stock worth $20,907,793. 11.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on RYAN. UBS Group upped their price target on Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Barclays upped their price target on Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Keefe, Bruyette & Woods dropped their price target on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. Morgan Stanley began coverage on Ryan Specialty in a research report on Thursday, December 5th. They set an “overweight” rating and a $90.00 price target on the stock. Finally, Wells Fargo & Company upped their price target on Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $75.27.

Ryan Specialty Stock Performance

RYAN opened at $69.88 on Wednesday. The company has a market cap of $18.30 billion, a PE ratio of 101.28, a price-to-earnings-growth ratio of 1.19 and a beta of 0.72. The stock has a 50-day moving average of $66.24 and a 200-day moving average of $67.50. Ryan Specialty Holdings, Inc. has a 52-week low of $48.48 and a 52-week high of $75.97. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01.

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

Ryan Specialty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders 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 0.69%. The ex-dividend date is Tuesday, March 4th. This is an increase from Ryan Specialty’s previous quarterly dividend of $0.11. Ryan Specialty’s dividend payout ratio is 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.