Fred Alger Management LLC Increases Stock Holdings in Ryan Specialty Holdings Inc. $RYAN

Key Points

• Fred Alger Management LLC significantly increased its stake in Ryan Specialty Holdings Inc. by 165.9% during the 1st quarter, owning 168,694 shares valued at approximately $12.46 million.
• Ryan Specialty recently declared a quarterly dividend of $0.12 per share, resulting in an annualized yield of 0.9%, though its dividend payout ratio stands at a high 137.14%.
• Analysts generally maintain a positive outlook on Ryan Specialty, with a consensus rating of "Moderate Buy" and a target price averaging around $74.83 per share.

Fred Alger Management LLC boosted its holdings in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 165.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 168,694 shares of the company's stock after acquiring an additional 105,250 shares during the quarter. Fred Alger Management LLC owned 0.06% of Ryan Specialty worth $12,461,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Crossmark Global Holdings Inc. boosted its holdings in Ryan Specialty by 2.9% during the 1st quarter. Crossmark Global Holdings Inc. now owns 7,351 shares of the company's stock valued at $543,000 after acquiring an additional 207 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in Ryan Specialty by 281.6% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company's stock valued at $25,000 after acquiring an additional 245 shares during the period. UMB Bank n.a. boosted its holdings in Ryan Specialty by 5.0% during the 1st quarter. UMB Bank n.a. now owns 5,797 shares of the company's stock valued at $428,000 after acquiring an additional 275 shares during the period. State of Michigan Retirement System boosted its holdings in Ryan Specialty by 1.2% during the 1st quarter. State of Michigan Retirement System now owns 25,500 shares of the company's stock valued at $1,884,000 after acquiring an additional 300 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in Ryan Specialty by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 29,800 shares of the company's stock valued at $2,201,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 84.82% of the company's stock.

Ryan Specialty Stock Down 0.1%

Shares of RYAN traded down $0.06 during trading hours on Friday, hitting $51.63. The company had a trading volume of 1,837,735 shares, compared to its average volume of 1,230,117. The company has a market capitalization of $13.61 billion, a PE ratio of 147.52, a price-to-earnings-growth ratio of 1.44 and a beta of 0.64. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.88. Ryan Specialty Holdings Inc. has a one year low of $50.08 and a one year high of $77.16. The company's fifty day moving average price is $59.96 and its two-hundred day moving average price is $66.04.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.66 EPS for the quarter, hitting the consensus estimate 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 business's revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.58 EPS. As a group, equities analysts forecast 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 announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.9%. The ex-dividend date was Tuesday, August 12th. Ryan Specialty's payout ratio is 137.14%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RYAN shares. Barclays decreased their target price on Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating for the company in a research report on Monday, July 7th. Morgan Stanley decreased their target price on Ryan Specialty from $71.00 to $68.00 and set an "overweight" rating for the company in a research report on Monday, August 18th. Citigroup started coverage on Ryan Specialty in a research report on Wednesday, August 13th. They set a "buy" rating and a $74.00 target price for the company. Wall Street Zen raised Ryan Specialty from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Finally, Cantor Fitzgerald raised Ryan Specialty to a "hold" rating in a research report on Wednesday, August 13th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $74.83.

Ryan Specialty Company 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.