Bank of America Corp DE Raises Stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Bank of America Corp DE lifted its position in Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 37.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 729,606 shares of the company's stock after buying an additional 199,131 shares during the period. Bank of America Corp DE owned approximately 0.28% of Ryan Specialty worth $46,812,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Rakuten Securities Inc. acquired a new stake in Ryan Specialty during the fourth quarter worth approximately $27,000. Kapitalo Investimentos Ltda acquired a new position in shares of Ryan Specialty during the 4th quarter worth $36,000. Principal Securities Inc. lifted its holdings in Ryan Specialty by 164.7% in the 4th quarter. Principal Securities Inc. now owns 667 shares of the company's stock valued at $43,000 after purchasing an additional 415 shares in the last quarter. Mizuho Bank Ltd. acquired a new stake in Ryan Specialty during the 4th quarter worth approximately $49,000. Finally, Headlands Technologies LLC grew its position in Ryan Specialty by 2,644.8% in the fourth quarter. Headlands Technologies LLC now owns 796 shares of the company's stock valued at $51,000 after acquiring an additional 767 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Ryan Specialty news, EVP Brendan Martin Mulshine sold 30,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $69.30, for a total transaction of $2,079,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 11.10% of the company's stock.

Analyst Ratings Changes

RYAN has been the topic of several research analyst reports. UBS Group raised their price objective on Ryan Specialty from $82.00 to $84.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Wells Fargo & Company reduced their target price on Ryan Specialty from $69.00 to $66.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Morgan Stanley boosted their price target on shares of Ryan Specialty from $78.00 to $80.00 and gave the company an "overweight" rating in a report on Monday. The Goldman Sachs Group raised Ryan Specialty from a "neutral" rating to a "buy" rating and upped their price target for the company from $74.00 to $81.00 in a research note on Tuesday, May 13th. Finally, Keefe, Bruyette & Woods decreased their price objective on Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $75.58.

Ryan Specialty Stock Up 0.6%

RYAN stock traded up $0.39 during trading on Tuesday, hitting $70.72. 32,467 shares of the company's stock traded hands, compared to its average volume of 1,038,710. The business has a fifty day simple moving average of $70.18 and a two-hundred day simple moving average of $68.77. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. Ryan Specialty Holdings, Inc. has a 1 year low of $52.34 and a 1 year high of $77.16. The firm has a market capitalization of $18.56 billion, a P/E ratio of 102.40, a PEG ratio of 1.19 and a beta of 0.68.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.39. Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The company had revenue of $690.17 million during the quarter, compared to the consensus estimate of $680.80 million. During the same period in the previous year, the firm posted $0.35 earnings per share. The firm's quarterly revenue was up 25.0% on a year-over-year basis. Sell-side analysts anticipate that Ryan Specialty Holdings, Inc. will post 2.29 EPS for the current year.

Ryan Specialty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be paid a dividend of $0.12 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.48 annualized dividend and a yield of 0.68%. Ryan Specialty's dividend payout ratio is presently 141.18%.

Ryan Specialty 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.