Ameriprise Financial Inc. Purchases 180,949 Shares of Ryan Specialty Holdings Inc. $RYAN

Key Points

• Ameriprise Financial Inc. increased its holdings in Ryan Specialty Holdings Inc. by 19.8%, acquiring an additional 180,949 shares during the first quarter, bringing their total to approximately 1.09 million shares valued at $80.7 million.
• Ryan Specialty recently reported $0.66 earnings per share, matching analysts' expectations, with quarterly revenue reaching $855.17 million, representing a 23% increase year-over-year.
• The company declared a quarterly dividend of $0.12 per share, with an ex-dividend date set for August 12, resulting in an annualized yield of 0.8%.

Ameriprise Financial Inc. boosted its position in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 19.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,092,579 shares of the company's stock after acquiring an additional 180,949 shares during the quarter. Ameriprise Financial Inc. owned 0.42% of Ryan Specialty worth $80,709,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in Ryan Specialty by 21.8% in the first quarter. GAMMA Investing LLC now owns 2,101 shares of the company's stock valued at $155,000 after acquiring an additional 376 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Ryan Specialty by 3.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,215 shares of the company's stock valued at $902,000 after buying an additional 460 shares during the last quarter. Wealth Alliance LLC bought a new position in shares of Ryan Specialty during the first quarter valued at about $303,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Ryan Specialty during the first quarter valued at about $1,927,000. Finally, Sumitomo Life Insurance Co. bought a new position in shares of Ryan Specialty during the first quarter valued at about $1,056,000. Institutional investors own 84.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wall Street Zen raised Ryan Specialty from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Barclays reduced their price objective on Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating on the stock in a research note on Monday, July 7th. Wells Fargo & Company reduced their price objective on Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Cantor Fitzgerald raised Ryan Specialty to a "hold" rating in a research note on Wednesday, August 13th. Finally, Morgan Stanley reduced their price objective on Ryan Specialty from $71.00 to $68.00 and set an "overweight" rating on the stock in a research note on Monday, August 18th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $74.83.

Ryan Specialty Trading Down 0.3%

Shares of Ryan Specialty stock traded down $0.18 during trading on Friday, reaching $56.47. 992,978 shares of the stock were exchanged, compared to its average volume of 1,255,671. 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 stock's fifty day moving average is $62.69 and its 200 day moving average is $67.08. The firm has a market cap of $14.89 billion, a price-to-earnings ratio of 161.36, a price-to-earnings-growth ratio of 1.57 and a beta of 0.64. Ryan Specialty Holdings Inc. has a 1 year low of $55.77 and a 1 year high of $77.16.

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

Ryan Specialty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were issued a $0.12 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $0.48 annualized dividend and a yield of 0.8%. Ryan Specialty's dividend payout ratio (DPR) is 137.14%.

Insider Activity

In other Ryan Specialty news, Director David P. Bolger sold 5,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $70.80, for a total value of $354,000.00. Following the completion of the sale, the director directly owned 71,467 shares in the company, valued at $5,059,863.60. This trade represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark Stephen Katz sold 14,377 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $65.84, for a total transaction of $946,581.68. Following the completion of the sale, the executive vice president owned 1,117 shares of the company's stock, valued at $73,543.28. This trade represents a 92.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 52.21% of the company's stock.

About Ryan Specialty

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.