Adage Capital Partners GP L.L.C. Makes New Investment in Ryan Specialty Holdings Inc. $RYAN

Key Points

• Adage Capital Partners GP L.L.C. invested approximately $13.3 million in Ryan Specialty Holdings Inc. by acquiring 180,000 shares in the first quarter of the year.
• Ryan Specialty reported a 23.0% increase in revenue year-over-year, with quarterly earnings of $0.66 per share, matching analysts' expectations.
• The company declared a quarterly dividend of $0.12 per share, with a current dividend yield of 0.9% and a payout ratio of 137.14%.

Adage Capital Partners GP L.L.C. acquired a new position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 180,000 shares of the company's stock, valued at approximately $13,297,000. Adage Capital Partners GP L.L.C. owned approximately 0.07% of Ryan Specialty at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Ryan Specialty by 4.0% during the first quarter. Vanguard Group Inc. now owns 10,271,428 shares of the company's stock worth $758,750,000 after acquiring an additional 390,924 shares in the last quarter. Principal Financial Group Inc. raised its stake in Ryan Specialty by 66.4% during the first quarter. Principal Financial Group Inc. now owns 3,051,356 shares of the company's stock worth $225,404,000 after acquiring an additional 1,218,147 shares in the last quarter. Blair William & Co. IL raised its stake in Ryan Specialty by 0.7% during the first quarter. Blair William & Co. IL now owns 2,784,916 shares of the company's stock worth $205,722,000 after acquiring an additional 18,953 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Ryan Specialty by 0.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,378,573 shares of the company's stock worth $175,706,000 after acquiring an additional 12,573 shares in the last quarter. Finally, Stephens Investment Management Group LLC raised its stake in Ryan Specialty by 2.2% during the first quarter. Stephens Investment Management Group LLC now owns 1,642,527 shares of the company's stock worth $121,333,000 after acquiring an additional 34,932 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Ryan Specialty Price Performance

Shares of RYAN stock opened at $54.37 on Friday. The stock has a 50-day moving average price of $61.41 and a 200 day moving average price of $66.64. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.88. The firm has a market cap of $14.34 billion, a price-to-earnings ratio of 155.35, a PEG ratio of 1.53 and a beta of 0.63. Ryan Specialty Holdings Inc. has a 12 month low of $53.99 and a 12 month high of $77.16.

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

Ryan Specialty Announces Dividend

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

Insider Buying and Selling

In related news, EVP Mark Stephen Katz sold 14,377 shares of Ryan Specialty stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $65.84, for a total value of $946,581.68. Following the completion of the sale, the executive vice president directly owned 1,117 shares in the company, valued at $73,543.28. This trade represents a 92.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 52.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

RYAN has been the subject of a number of research analyst reports. Barclays cut their price target on Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating for the company in a report on Monday, July 7th. Cantor Fitzgerald raised Ryan Specialty to a "hold" rating in a report on Wednesday, August 13th. Morgan Stanley cut their price target on Ryan Specialty from $71.00 to $68.00 and set an "overweight" rating for the company in a report on Monday, August 18th. UBS Group cut their price target on Ryan Specialty from $84.00 to $80.00 and set a "buy" rating for the company in a report on Monday, August 4th. Finally, Citigroup initiated coverage on Ryan Specialty in a report on Wednesday, August 13th. They issued a "buy" rating and a $74.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $74.83.

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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