Fmr LLC Grows Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Fmr LLC raised its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 72.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,875 shares of the company’s stock after purchasing an additional 5,402 shares during the quarter. Fmr LLC’s holdings in Ryan Specialty were worth $855,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Signaturefd LLC boosted its position in Ryan Specialty by 12.3% in the third quarter. Signaturefd LLC now owns 1,347 shares of the company’s stock valued at $89,000 after buying an additional 148 shares during the last quarter. UMB Bank n.a. lifted its stake in Ryan Specialty by 5.2% during the 3rd quarter. UMB Bank n.a. now owns 5,224 shares of the company’s stock valued at $347,000 after acquiring an additional 256 shares during the period. Loomis Sayles & Co. L P boosted its holdings in shares of Ryan Specialty by 26.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,373 shares of the company’s stock valued at $91,000 after acquiring an additional 286 shares during the last quarter. Hollencrest Capital Management acquired a new stake in shares of Ryan Specialty in the third quarter worth $25,000. Finally, CHICAGO TRUST Co NA raised its holdings in shares of Ryan Specialty by 10.3% during the third quarter. CHICAGO TRUST Co NA now owns 4,838 shares of the company’s stock worth $321,000 after purchasing an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Ryan Specialty Price Performance

Shares of NYSE RYAN opened at $65.44 on Wednesday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a fifty day moving average of $70.69 and a 200 day moving average of $64.71. The firm has a market cap of $17.13 billion, a PE ratio of 84.99, a PEG ratio of 1.52 and a beta of 0.67. Ryan Specialty Holdings, Inc. has a one year low of $41.57 and a one year high of $75.97.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, hitting analysts’ consensus estimates of $0.41. The business had revenue of $604.69 million during the quarter, compared to analysts’ expectations of $602.04 million. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The company’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 earnings per share. As a group, research analysts predict that Ryan Specialty Holdings, Inc. will post 1.82 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.44 annualized dividend and a dividend yield of 0.67%. Ryan Specialty’s dividend payout ratio (DPR) is presently 57.14%.

Analyst Ratings Changes

Several research firms have commented on RYAN. Barclays upped their price target on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Bank of America upped their target price on Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company lifted their price target on Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Morgan Stanley initiated coverage on Ryan Specialty in a research report on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price objective on the stock. Finally, BMO Capital Markets raised shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $65.00 to $75.00 in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $73.50.

Insider Transactions at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $67.39, for a total transaction of $2,358,650.00. Following the transaction, the director now owns 65,100 shares in the company, valued at approximately $4,387,089. This trade represents a 34.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David P. Bolger sold 7,055 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $70.88, for a total value of $500,058.40. Following the transaction, the director now directly owns 78,149 shares in the company, valued at $5,539,201.12. This trade represents a 8.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,845 shares of company stock valued at $6,249,417 over the last ninety days. 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.