Ameriprise Financial Inc. Grows Position in 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. raised its holdings in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 19.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,092,579 shares of the company's stock after acquiring an additional 180,949 shares during the period. Ameriprise Financial Inc. owned approximately 0.42% of Ryan Specialty worth $80,709,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

RYAN has been the subject of several analyst reports. UBS Group decreased their target price on shares of Ryan Specialty from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Monday, August 4th. Barclays decreased their target price on shares of Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating for the company in a research note on Monday, July 7th. Citigroup initiated coverage on shares of Ryan Specialty in a research note on Wednesday, August 13th. They issued a "buy" rating and a $74.00 target price for the company. Morgan Stanley decreased their target price on shares of Ryan Specialty from $71.00 to $68.00 and set an "overweight" rating for the company in a research note on Monday, August 18th. Finally, Wall Street Zen upgraded shares of Ryan Specialty from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $74.83.

Ryan Specialty Price Performance

NYSE:RYAN traded down $0.73 during trading hours on Thursday, reaching $56.67. 858,784 shares of the company were exchanged, compared to its average volume of 1,502,197. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.88. The stock's 50-day moving average is $62.91 and its 200-day moving average is $67.17. The firm has a market cap of $14.94 billion, a PE ratio of 161.93, a price-to-earnings-growth ratio of 1.60 and a beta of 0.64. Ryan Specialty Holdings Inc. has a twelve month low of $55.77 and a twelve month high of $77.16.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $837.52 million. Ryan Specialty had a net margin of 6.81% and a return on equity of 48.70%. The firm'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. On average, sell-side analysts anticipate 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 was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.8%. Ryan Specialty's dividend payout ratio is presently 137.14%.

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.