Ryan Specialty Holdings Inc. (NYSE:RYAN) Shares Acquired by Geneva Capital Management LLC

Key Points

• Geneva Capital Management LLC increased its holdings in Ryan Specialty Holdings Inc. by 3.3% in the first quarter, bringing its total shares to 495,970, valued at approximately $36.6 million.
• Recent analyst ratings for Ryan Specialty indicate mixed outlooks, with upgrades from Wall Street Zen but target price reductions by Wells Fargo and Morgan Stanley; the consensus rating is a "Moderate Buy" with a target price of $77.70.
• Ryan Specialty announced a quarterly dividend of $0.12, translating to an annual yield of 0.8%, although its dividend payout ratio is notably high at 137.14%.

Geneva Capital Management LLC boosted its position in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 3.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 495,970 shares of the company's stock after acquiring an additional 15,825 shares during the period. Geneva Capital Management LLC owned about 0.19% of Ryan Specialty worth $36,637,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RYAN. Principal Financial Group Inc. grew its stake in shares of Ryan Specialty by 66.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,051,356 shares of the company's stock valued at $225,404,000 after buying an additional 1,218,147 shares during the period. Millennium Management LLC lifted its holdings in shares of 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 acquiring an additional 1,077,169 shares in the last quarter. Artemis Investment Management LLP acquired a new position in shares of Ryan Specialty during the 1st quarter valued at $57,023,000. Wellington Management Group LLP acquired a new position in shares of Ryan Specialty during the 4th quarter valued at $29,599,000. Finally, Freestone Grove Partners LP acquired a new position in shares of Ryan Specialty during the 4th quarter valued at $13,842,000. 84.82% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ryan Specialty

In other news, Director David P. Bolger sold 5,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $70.80, for a total value of $354,000.00. Following the sale, the director owned 71,467 shares in the company, 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 SEC, which can be accessed through this hyperlink. Also, EVP Mark Stephen Katz sold 14,377 shares of the business's stock in a transaction dated Friday, June 13th. The shares were 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 represents a 92.79% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 52.21% of the company's stock.

Ryan Specialty Stock Down 1.5%

Shares of Ryan Specialty stock traded down $0.88 during trading on Friday, reaching $58.67. The company had a trading volume of 788,554 shares, compared to its average volume of 1,072,156. The company has a market cap of $15.40 billion, a price-to-earnings ratio of 167.60, a price-to-earnings-growth ratio of 1.66 and a beta of 0.64. The firm's fifty day moving average is $65.56 and its 200-day moving average is $67.96. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.05 and a current ratio of 1.01. Ryan Specialty Holdings Inc. has a fifty-two week low of $55.77 and a fifty-two week high of $77.16.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued its 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. The business had revenue of $855.17 million for the quarter, compared to analyst estimates of $837.52 million. Ryan Specialty had a net margin of 6.81% and a return on equity of 48.70%. The company's revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.58 EPS. On average, analysts anticipate that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current year.

Ryan Specialty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, August 12th. Ryan Specialty's dividend payout ratio is 137.14%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group upgraded shares of Ryan Specialty from a "neutral" rating to a "buy" rating and lifted their target price for the company from $74.00 to $81.00 in a report on Tuesday, May 13th. Wall Street Zen upgraded shares of Ryan Specialty from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Barclays reduced their target price 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. UBS Group cut their price objective on shares of Ryan Specialty from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Monday. Finally, Morgan Stanley cut their price objective on shares of Ryan Specialty from $80.00 to $78.00 and set an "overweight" rating on the stock in a report on Monday, July 14th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $77.30.

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.