Bryce Point Capital LLC Invests $731,000 in Ryan Specialty Holdings Inc. (NYSE:RYAN)

Key Points

• Bryce Point Capital LLC acquired a stake of 10,550 shares in Ryan Specialty Holdings Inc., valued at approximately $731,000, in the first quarter, highlighting interest from institutional investors.
• The company's quarterly earnings reported a net revenue of $690.17 million, surpassing analyst estimates and showing a 25.0% year-over-year growth in revenue.
• Ryan Specialty announced a quarterly dividend of $0.12 per share, representing an annualized dividend of $0.48 and a yield of 0.72%, with a payout ratio of 141.18%.

Bryce Point Capital LLC bought a new position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,550 shares of the company's stock, valued at approximately $731,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RYAN. Whittier Trust Co. of Nevada Inc. lifted its stake in Ryan Specialty by 281.6% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company's stock worth $25,000 after purchasing an additional 245 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Ryan Specialty in the 1st quarter worth approximately $35,000. Kapitalo Investimentos Ltda purchased a new position in Ryan Specialty in the 4th quarter worth approximately $36,000. Fifth Third Bancorp boosted its holdings in Ryan Specialty by 202.5% in the 1st quarter. Fifth Third Bancorp now owns 484 shares of the company's stock valued at $36,000 after purchasing an additional 324 shares during the last quarter. Finally, Mizuho Bank Ltd. acquired a new position in Ryan Specialty in the 4th quarter valued at about $49,000. Institutional investors and hedge funds own 84.82% of the company's stock.

Insiders Place Their Bets

In related 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 directly owned 71,467 shares of the company's stock, valued at approximately $5,059,863.60. This represents a 6.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 approximately $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. 52.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RYAN has been the topic of several analyst reports. Wells Fargo & Company reduced their price target on shares of Ryan Specialty from $65.00 to $63.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Barclays reduced their price objective on shares of Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating on the stock in a report on Monday, July 7th. TD Cowen started coverage on shares of Ryan Specialty in a report on Thursday, April 10th. They issued a "buy" rating and a $89.00 price objective on the stock. Wall Street Zen lowered Ryan Specialty from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Finally, The Goldman Sachs Group raised Ryan Specialty from a "neutral" rating to a "buy" rating and boosted their target price for the company from $74.00 to $81.00 in a research report on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Ryan Specialty has an average rating of "Moderate Buy" and an average target price of $76.00.

Ryan Specialty Trading Up 2.6%

RYAN stock traded up $1.54 during midday trading on Thursday, hitting $61.70. The stock had a trading volume of 741,254 shares, compared to its average volume of 1,020,217. The firm has a market cap of $16.19 billion, a PE ratio of 181.40, a price-to-earnings-growth ratio of 1.62 and a beta of 0.66. The company has a debt-to-equity ratio of 3.45, a current ratio of 1.05 and a quick ratio of 1.05. Ryan Specialty Holdings Inc. has a 12-month low of $59.29 and a 12-month high of $77.16. The company's 50-day moving average price is $66.83 and its 200 day moving average price is $68.28.

Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. The company had revenue of $690.17 million during the quarter, compared to analysts' expectations of $680.80 million. Ryan Specialty had a net margin of 6.97% and a return on equity of 47.70%. The business's quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 EPS. On average, equities research analysts predict that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, May 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.78%. Ryan Specialty's dividend payout ratio (DPR) is 141.18%.

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.