Ryan Specialty Holdings, Inc. (NYSE:RYAN) Stock Holdings Lifted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 22.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,696 shares of the company’s stock after buying an additional 846 shares during the period. PNC Financial Services Group Inc.’s holdings in Ryan Specialty were worth $301,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Edgestream Partners L.P. bought a new position in shares of Ryan Specialty in the fourth quarter valued at $3,268,000. Raymond James Financial Inc. acquired a new stake in Ryan Specialty during the 4th quarter valued at $94,484,000. Arizona State Retirement System raised its stake in Ryan Specialty by 1.9% during the 4th quarter. Arizona State Retirement System now owns 29,688 shares of the company’s stock valued at $1,905,000 after purchasing an additional 549 shares during the period. Cornerstone Investment Partners LLC raised its stake in Ryan Specialty by 3.8% during the 4th quarter. Cornerstone Investment Partners LLC now owns 9,311 shares of the company’s stock valued at $597,000 after purchasing an additional 343 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Ryan Specialty by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 974,451 shares of the company’s stock valued at $62,521,000 after purchasing an additional 36,264 shares during the period. Institutional investors own 84.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RYAN. Wells Fargo & Company boosted their target price on shares of Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Friday, February 21st. UBS Group boosted their target price on shares of Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Royal Bank of Canada lowered their price target on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. Keefe, Bruyette & Woods lowered their price target on shares of Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. Finally, Morgan Stanley started coverage on shares of Ryan Specialty in a report on Thursday, December 5th. They set an “overweight” rating and a $90.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $75.27.

Ryan Specialty Trading Down 0.8 %

Shares of NYSE:RYAN opened at $71.13 on Friday. The stock has a market capitalization of $18.63 billion, a PE ratio of 103.09, a P/E/G ratio of 1.19 and a beta of 0.71. Ryan Specialty Holdings, Inc. has a 1 year low of $48.48 and a 1 year high of $75.97. The firm has a fifty day moving average price of $68.11 and a 200 day moving average price of $67.96. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40.

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 analysts’ consensus estimates of $0.47 by ($0.02). Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The firm had revenue of $663.53 million for the quarter, compared to the consensus estimate of $658.80 million. Analysts expect that Ryan Specialty Holdings, Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Tuesday, March 4th. Ryan Specialty’s dividend payout ratio is 69.57%.

Insider Buying and Selling at Ryan Specialty

In other news, Director Nicholas Dominic Cortezi sold 35,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $65.99, for a total transaction of $2,309,650.00. Following the completion of the transaction, the director now owns 35,609 shares of the company’s stock, valued at approximately $2,349,837.91. This represents a 49.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brendan Martin Mulshine sold 30,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were 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 sold 241,360 shares of company stock worth $16,006,428 over the last ninety days. Company insiders own 11.10% of the company’s stock.

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.