Artemis Investment Management LLP Buys New Position in Ryan Specialty Holdings Inc. (NYSE:RYAN)

Artemis Investment Management LLP bought a new position in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 771,938 shares of the company's stock, valued at approximately $57,023,000. Artemis Investment Management LLP owned about 0.29% of Ryan Specialty as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of RYAN. Raymond James Financial Inc. acquired a new position in Ryan Specialty in the fourth quarter valued at approximately $94,484,000. Norges Bank bought a new stake in shares of Ryan Specialty in the 4th quarter worth approximately $78,358,000. Millennium Management LLC boosted its position in Ryan Specialty by 1,111.4% during the 4th quarter. Millennium Management LLC now owns 1,174,086 shares of the company's stock valued at $75,329,000 after purchasing an additional 1,077,169 shares during the period. CIBC Private Wealth Group LLC grew its stake in Ryan Specialty by 6,911.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 785,928 shares of the company's stock worth $48,036,000 after buying an additional 774,718 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Ryan Specialty by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 9,880,504 shares of the company's stock worth $633,933,000 after buying an additional 529,631 shares during the period. Institutional investors and hedge funds own 84.82% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on RYAN. Keefe, Bruyette & Woods reduced their target price on shares of Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Barclays cut their price target on Ryan Specialty from $88.00 to $83.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. TD Cowen began coverage on Ryan Specialty in a report on Thursday, April 10th. They issued a "buy" rating and a $89.00 price objective for the company. Morgan Stanley lifted their target price on Ryan Specialty from $78.00 to $80.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Finally, The Goldman Sachs Group raised Ryan Specialty from a "neutral" rating to a "buy" rating and increased their price target for the stock from $74.00 to $81.00 in a research note on Tuesday, May 13th. One investment 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's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $75.58.

Ryan Specialty Price Performance

Ryan Specialty stock traded up $0.40 during trading hours on Monday, hitting $67.98. 549,138 shares of the stock were exchanged, compared to its average volume of 915,565. The business's 50-day moving average is $68.23 and its two-hundred day moving average is $68.07. The company has a debt-to-equity ratio of 3.45, a quick ratio of 1.05 and a current ratio of 1.05. Ryan Specialty Holdings Inc. has a 12 month low of $55.67 and a 12 month high of $77.16. The stock has a market capitalization of $17.84 billion, a P/E ratio of 199.94, a P/E/G ratio of 1.80 and a beta of 0.70.

Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.39 earnings per share for the quarter, hitting analysts' consensus estimates of $0.39. Ryan Specialty had a net margin of 6.97% and a return on equity of 47.70%. The company had revenue of $690.17 million during the quarter, compared to the consensus estimate of $680.80 million. During the same period in the previous year, the firm posted $0.35 earnings per share. The company's revenue was up 25.0% on a year-over-year basis. Equities research analysts expect that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.71%. Ryan Specialty's payout ratio is 141.18%.

Insider Activity

In related news, EVP Mark Stephen Katz sold 14,377 shares of Ryan Specialty 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 completion of the sale, the executive vice president now directly owns 1,117 shares of the company's stock, valued at $73,543.28. The trade was a 92.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David P. Bolger sold 5,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $70.80, for a total value of $354,000.00. Following the sale, the director now directly owns 71,467 shares in the company, valued at $5,059,863.60. The trade was a 6.54% decrease in their position. The disclosure for this sale can be found here. 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.