Geneva Capital Management LLC Raises Holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN)

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 increased its position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 3.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 495,970 shares of the company's stock after purchasing an additional 15,825 shares during the quarter. Geneva Capital Management LLC owned approximately 0.19% of Ryan Specialty worth $36,637,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in RYAN. Whittier Trust Co. of Nevada Inc. increased its position in shares of Ryan Specialty by 281.6% during the first 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 stake in Ryan Specialty in the 1st quarter valued at $35,000. Kapitalo Investimentos Ltda purchased a new stake in Ryan Specialty in the 4th quarter valued at $36,000. Fifth Third Bancorp grew 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 buying an additional 324 shares in the last quarter. Finally, Headlands Technologies LLC grew its holdings in Ryan Specialty by 2,644.8% in the 4th quarter. Headlands Technologies LLC now owns 796 shares of the company's stock valued at $51,000 after buying an additional 767 shares in the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ryan Specialty

In other Ryan Specialty news, Director David P. Bolger sold 5,000 shares of the stock in a transaction dated 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 owned 71,467 shares of the company's stock, valued at $5,059,863.60. This trade represents a 6.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Stephen Katz sold 14,377 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $65.84, for a total value of $946,581.68. Following the completion of the transaction, the executive vice president owned 1,117 shares in the company, valued at approximately $73,543.28. The trade was a 92.79% decrease in their position. The disclosure for this sale can be found here. 52.21% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RYAN shares. Wall Street Zen upgraded Ryan Specialty from a "sell" rating to a "hold" rating in a report on Sunday. Wells Fargo & Company dropped their target price on Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating for the company in a report on Friday. Morgan Stanley dropped their target price on Ryan Specialty from $80.00 to $78.00 and set an "overweight" rating for the company in a report on Monday, July 14th. Barclays dropped their target price on Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating for the company in a report on Monday, July 7th. Finally, TD Cowen assumed coverage on Ryan Specialty in a report on Thursday, April 10th. They issued a "buy" rating and a $89.00 target price for the company. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.70.

Ryan Specialty Price Performance

RYAN opened at $57.97 on Monday. The stock's 50-day moving average price is $66.47 and its 200 day moving average price is $68.22. Ryan Specialty Holdings Inc. has a 12-month low of $55.77 and a 12-month high of $77.16. The company has a current ratio of 1.01, a quick ratio of 1.05 and a debt-to-equity ratio of 2.88. The firm has a market cap of $15.21 billion, a price-to-earnings ratio of 165.63, a PEG ratio of 1.57 and a beta of 0.64.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.66 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.66. Ryan Specialty had a return on equity of 48.70% and a net margin of 6.81%. The firm had revenue of $855.17 million for the quarter, compared to analyst estimates of $837.52 million. During the same quarter in the prior year, the company earned $0.58 EPS. Ryan Specialty's revenue was up 23.0% on a year-over-year basis. As a group, sell-side analysts expect that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Announces Dividend

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

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.

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