551,922 Shares in Ryan Specialty Holdings Inc. $RYAN Purchased by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC purchased 551,922 shares of Ryan Specialty Holdings Inc. for approximately $37.3 million, marking a 0.21% ownership stake in the company.
• Chairman Patrick G. Ryan increased his stake in Ryan Specialty by purchasing 276,634 shares at an average price of $51.84 per share, raising his total ownership to nearly 13.7 million shares.
• Analysts have set varying price targets for Ryan Specialty, with UBS Group lowering it to $75 while Citigroup set a target at $74, reflecting mixed sentiments towards the company's stock performance.

Allspring Global Investments Holdings LLC bought a new position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 551,922 shares of the company's stock, valued at approximately $37,321,000. Allspring Global Investments Holdings LLC owned approximately 0.21% of Ryan Specialty as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its holdings in shares of Ryan Specialty by 66.4% in the 1st quarter. Principal Financial Group Inc. now owns 3,051,356 shares of the company's stock worth $225,404,000 after purchasing an additional 1,218,147 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Ryan Specialty by 121.6% in the 1st quarter. Invesco Ltd. now owns 1,590,862 shares of the company's stock worth $117,517,000 after purchasing an additional 872,846 shares in the last quarter. Artemis Investment Management LLP purchased a new position in shares of Ryan Specialty in the 1st quarter worth about $57,023,000. Woodline Partners LP purchased a new position in shares of Ryan Specialty in the 1st quarter worth about $40,278,000. Finally, Westfield Capital Management Co. LP boosted its holdings in shares of Ryan Specialty by 61.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,078,233 shares of the company's stock worth $79,649,000 after purchasing an additional 409,649 shares in the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ryan Specialty

In other Ryan Specialty news, Chairman Patrick G. Ryan purchased 276,634 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was purchased at an average price of $51.84 per share, for a total transaction of $14,340,706.56. Following the completion of the purchase, the chairman directly owned 13,699,959 shares of the company's stock, valued at $710,205,874.56. This trade represents a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 52.21% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. UBS Group cut their price objective on Ryan Specialty from $80.00 to $75.00 and set a "buy" rating for the company in a report on Wednesday, October 8th. Cantor Fitzgerald upgraded Ryan Specialty to a "hold" rating in a report on Wednesday, August 13th. Citigroup assumed coverage on Ryan Specialty in a report on Wednesday, August 13th. They issued a "buy" rating and a $74.00 price objective for the company. Weiss Ratings restated a "hold (c-)" rating on shares of Ryan Specialty in a report on Wednesday, October 8th. Finally, Morgan Stanley dropped their target price on Ryan Specialty from $68.00 to $65.00 and set an "overweight" rating for the company in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $71.08.

Ryan Specialty Stock Down 3.3%

Shares of NYSE:RYAN opened at $54.52 on Thursday. Ryan Specialty Holdings Inc. has a 52-week low of $50.08 and a 52-week high of $77.16. The firm has a market capitalization of $14.38 billion, a P/E ratio of 155.77, a P/E/G ratio of 1.55 and a beta of 0.63. The stock has a 50 day moving average price of $56.12 and a 200-day moving average price of $63.66. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.01 and a current ratio of 1.01.

Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.66 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.66. Ryan Specialty had a return on equity of 48.70% and a net margin of 6.81%.The firm had revenue of $855.17 million during the quarter, compared to analyst estimates of $837.52 million. During the same quarter in the prior year, the company earned $0.58 EPS. The business's revenue was up 23.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.9%. Ryan Specialty's payout ratio is presently 137.14%.

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.

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