Bank of America Corp DE increased its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 37.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 729,606 shares of the company's stock after buying an additional 199,131 shares during the quarter. Bank of America Corp DE owned about 0.28% of Ryan Specialty worth $46,812,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of RYAN. Rakuten Securities Inc. acquired a new stake in Ryan Specialty during the 4th quarter valued at approximately $27,000. Kapitalo Investimentos Ltda acquired a new stake in Ryan Specialty during the 4th quarter valued at approximately $36,000. Principal Securities Inc. grew its stake in Ryan Specialty by 164.7% during 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 valued at approximately $49,000. Finally, Headlands Technologies LLC grew its stake in Ryan Specialty by 2,644.8% during the 4th quarter. Headlands Technologies LLC now owns 796 shares of the company's stock valued at $51,000 after purchasing an additional 767 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company's stock.
Insider Buying and Selling at Ryan Specialty
In other news, EVP Brendan Martin Mulshine sold 30,000 shares of Ryan Specialty stock in a transaction on Friday, March 14th. The stock was sold at an average price of $69.30, for a total transaction of $2,079,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 11.10% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of brokerages have weighed in on RYAN. Barclays lowered their price objective on Ryan Specialty from $88.00 to $83.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. TD Cowen initiated coverage on Ryan Specialty in a research note on Thursday, April 10th. They set a "buy" rating and a $89.00 price objective for the company. Wells Fargo & Company reduced their target price on Ryan Specialty from $69.00 to $66.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Royal Bank of Canada reduced their target price on Ryan Specialty from $73.00 to $72.00 and set a "sector perform" rating on the stock in a report on Friday, February 21st. Finally, Keefe, Bruyette & Woods reduced their target price on Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating on the stock 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 issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $76.42.
Get Our Latest Analysis on Ryan Specialty
Ryan Specialty Stock Performance
NYSE:RYAN traded up $0.80 during trading hours on Friday, reaching $70.67. 672,673 shares of the stock were exchanged, compared to its average volume of 981,555. The stock has a market capitalization of $18.55 billion, a P/E ratio of 102.42, a P/E/G ratio of 1.19 and a beta of 0.68. Ryan Specialty Holdings, Inc. has a 52 week low of $52.34 and a 52 week high of $77.16. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. The firm has a 50 day simple moving average of $70.16 and a 200-day simple moving average of $68.73.
Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.39. The business had revenue of $690.17 million for the quarter, compared to the consensus estimate of $680.80 million. Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. The business's revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS. As a group, sell-side analysts forecast that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current fiscal year.
Ryan Specialty Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Tuesday, May 13th. Ryan Specialty's payout ratio is currently 141.18%.
About Ryan Specialty
(
Free Report)
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.
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