Driehaus Capital Management LLC Takes $16.31 Million Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Driehaus Capital Management LLC purchased a new stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 281,702 shares of the company’s stock, valued at approximately $16,313,000. Driehaus Capital Management LLC owned 0.11% of Ryan Specialty as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. GAMMA Investing LLC boosted its holdings in shares of Ryan Specialty by 96.4% in the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock valued at $35,000 after buying an additional 297 shares during the period. Arizona State Retirement System boosted its holdings in shares of Ryan Specialty by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 28,246 shares of the company’s stock valued at $1,636,000 after buying an additional 611 shares during the period. Precision Wealth Strategies LLC boosted its holdings in shares of Ryan Specialty by 4.1% in the 1st quarter. Precision Wealth Strategies LLC now owns 15,774 shares of the company’s stock valued at $875,000 after buying an additional 617 shares during the period. Anderson Hoagland & Co. boosted its holdings in shares of Ryan Specialty by 1.2% in the 2nd quarter. Anderson Hoagland & Co. now owns 51,615 shares of the company’s stock valued at $2,909,000 after buying an additional 624 shares during the period. Finally, Crewe Advisors LLC acquired a new position in Ryan Specialty during the 2nd quarter valued at about $39,000. 84.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Nicholas Dominic Cortezi sold 5,375 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $64.73, for a total value of $347,923.75. Following the sale, the director now directly owns 2,685 shares in the company, valued at approximately $173,800.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $65.18, for a total transaction of $1,709,866.94. Following the transaction, the executive vice president now directly owns 24,845 shares of the company’s stock, valued at $1,619,397.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nicholas Dominic Cortezi sold 5,375 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $64.73, for a total transaction of $347,923.75. Following the transaction, the director now directly owns 2,685 shares in the company, valued at $173,800.05. The disclosure for this sale can be found here. Insiders have sold 2,107,136 shares of company stock worth $131,860,032 in the last ninety days. 11.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

RYAN has been the subject of a number of analyst reports. Citigroup boosted their target price on shares of Ryan Specialty from $56.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $62.00 target price on shares of Ryan Specialty in a research note on Tuesday, July 2nd. The Goldman Sachs Group boosted their target price on shares of Ryan Specialty from $58.00 to $64.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Wells Fargo & Company boosted their target price on shares of Ryan Specialty from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets upgraded shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $65.00 to $75.00 in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $66.78.

Ryan Specialty Stock Down 0.3 %

NYSE RYAN opened at $66.00 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.09 and a quick ratio of 1.09. The company’s 50 day simple moving average is $63.85 and its 200 day simple moving average is $57.67. Ryan Specialty Holdings, Inc. has a 12 month low of $41.49 and a 12 month high of $69.03. The company has a market capitalization of $17.26 billion, a P/E ratio of 124.53, a PEG ratio of 1.60 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Thursday, August 1st. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. Ryan Specialty had a net margin of 10.21% and a return on equity of 48.08%. The business had revenue of $695.40 million for the quarter, compared to the consensus estimate of $695.56 million. During the same period in the previous year, the firm earned $0.45 EPS. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. Equities research analysts expect that Ryan Specialty Holdings, Inc. will post 1.81 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a $0.11 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.67%. Ryan Specialty’s payout ratio is currently 83.02%.

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.