Fred Alger Management LLC Has $12.46 Million Position 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 raised its stake in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 165.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 168,694 shares of the company's stock after buying an additional 105,250 shares during the period. Fred Alger Management LLC owned approximately 0.06% of Ryan Specialty worth $12,461,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of RYAN. BNP Paribas Financial Markets purchased a new stake in shares of Ryan Specialty in the 4th quarter valued at approximately $3,988,000. Bank of America Corp DE lifted its position in shares of Ryan Specialty by 37.5% in the 4th quarter. Bank of America Corp DE now owns 729,606 shares of the company's stock valued at $46,812,000 after acquiring an additional 199,131 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Ryan Specialty by 60.3% in the 4th quarter. Captrust Financial Advisors now owns 15,078 shares of the company's stock valued at $967,000 after acquiring an additional 5,673 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Ryan Specialty by 5.8% in the 4th quarter. Deutsche Bank AG now owns 10,814 shares of the company's stock valued at $694,000 after acquiring an additional 595 shares in the last quarter. Finally, Ensign Peak Advisors Inc lifted its position in shares of Ryan Specialty by 160.6% in the 4th quarter. Ensign Peak Advisors Inc now owns 105,490 shares of the company's stock valued at $6,768,000 after acquiring an additional 65,014 shares in the last quarter. Institutional investors own 84.82% of the company's stock.

Ryan Specialty Stock Down 0.1%

Shares of Ryan Specialty stock traded down $0.06 during midday trading on Friday, reaching $51.63. 1,837,735 shares of the company's stock traded hands, compared to its average volume of 1,100,434. Ryan Specialty Holdings Inc. has a 52 week low of $50.08 and a 52 week high of $77.16. The company's 50 day simple moving average is $60.25 and its 200 day simple moving average is $66.21. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $13.61 billion, a price-to-earnings ratio of 147.52, a price-to-earnings-growth ratio of 1.42 and a beta of 0.63.

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

Ryan Specialty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, August 12th. Ryan Specialty's dividend payout ratio is 137.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Ryan Specialty from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Barclays dropped their price target on shares of Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating on the stock in a research note on Monday, July 7th. UBS Group dropped their price target on shares of Ryan Specialty from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Wells Fargo & Company dropped their price target on shares of 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. Finally, Citigroup assumed coverage on shares of Ryan Specialty in a research note on Wednesday, August 13th. They issued a "buy" rating and a $74.00 price target on the stock. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Ryan Specialty currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.83.

Ryan Specialty 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.