LGT Group Foundation Makes New Investment in Ryan Specialty Holdings Inc. (NYSE:RYAN)

Key Points

• LGT Group Foundation has taken a new position in Ryan Specialty Holdings Inc., acquiring approximately $1.46 million worth of shares.
• Several institutional investors increased their positions in Ryan Specialty, with over 84.82% of the stock owned by hedge funds and other large investors.
• Ryan Specialty Holdings reported a revenue increase of 23.0% year-over-year, with a net margin of 6.81% for the latest quarter.

LGT Group Foundation acquired a new position in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 19,802 shares of the company's stock, valued at approximately $1,463,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its holdings in shares of Ryan Specialty by 4.4% in the first quarter. Russell Investments Group Ltd. now owns 13,642 shares of the company's stock worth $1,008,000 after buying an additional 569 shares during the last quarter. Nuveen LLC purchased a new position in Ryan Specialty during the first quarter valued at approximately $26,739,000. Invesco Ltd. lifted its holdings in Ryan Specialty by 121.6% during the first quarter. Invesco Ltd. now owns 1,590,862 shares of the company's stock valued at $117,517,000 after purchasing an additional 872,846 shares in the last quarter. Covestor Ltd lifted its holdings in Ryan Specialty by 404.7% during the first quarter. Covestor Ltd now owns 858 shares of the company's stock valued at $63,000 after purchasing an additional 688 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Ryan Specialty during the first quarter valued at approximately $467,000. Hedge funds and other institutional investors own 84.82% of the company's stock.

Analyst Ratings Changes

RYAN has been the topic of several analyst reports. Wall Street Zen raised shares of Ryan Specialty from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. The Goldman Sachs Group upgraded shares of Ryan Specialty from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $74.00 to $81.00 in a research report on Tuesday, May 13th. UBS Group reduced their price objective on shares of Ryan Specialty from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Wells Fargo & Company reduced their price objective on shares of Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Finally, Citigroup assumed coverage on shares of Ryan Specialty in a research report on Wednesday. They set a "buy" rating and a $74.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $75.08.

Ryan Specialty Price Performance

RYAN traded down $0.37 during trading hours on Friday, hitting $59.14. The company's stock had a trading volume of 731,805 shares, compared to its average volume of 1,523,210. 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 12 month low of $55.77 and a 12 month high of $77.16. The stock has a market cap of $15.60 billion, a price-to-earnings ratio of 168.98, a P/E/G ratio of 1.65 and a beta of 0.64. The business's 50-day moving average price is $64.25 and its 200-day moving average price is $67.73.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.66 earnings per share 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 business had revenue of $855.17 million for the quarter, compared to analysts' expectations of $837.52 million. During the same quarter in the previous year, the business posted $0.58 earnings per share. The business's revenue was up 23.0% compared to the same quarter last year. Sell-side analysts expect that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

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

Insiders Place Their Bets

In other Ryan Specialty news, Director David P. Bolger sold 5,000 shares of the business'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 transaction, the director owned 71,467 shares in the company, valued at $5,059,863.60. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 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. The trade was a 92.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 52.21% of the company's stock.

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.