LPL Financial LLC Has $2.80 Million Holdings in Ryan Specialty Holdings Inc. $RYAN

Key Points

• LPL Financial LLC increased its holdings in Ryan Specialty Holdings Inc. by 15.3%, now owning 37,897 shares valued at approximately $2.80 million.
• Insider sales included Director David P. Bolger selling 5,000 shares and EVP Mark Stephen Katz selling 14,377 shares, representing notable decreases in their respective positions.
• Investors can expect a quarterly dividend of $0.12 per share, with an annual yield of 0.8%, amidst a projected earnings per share of 2.29 for the fiscal year.

LPL Financial LLC boosted its position in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 15.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,897 shares of the company's stock after buying an additional 5,033 shares during the quarter. LPL Financial LLC's holdings in Ryan Specialty were worth $2,799,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RYAN. Whittier Trust Co. of Nevada Inc. grew its stake in Ryan Specialty by 281.6% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company's stock valued at $25,000 after buying an additional 245 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in Ryan Specialty in the 1st quarter valued at $35,000. Kapitalo Investimentos Ltda bought a new stake in Ryan Specialty in the 4th quarter valued at $36,000. Fifth Third Bancorp boosted 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 purchasing an additional 324 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Ryan Specialty by 21.8% in the 1st quarter. GAMMA Investing LLC now owns 2,101 shares of the company's stock valued at $155,000 after purchasing an additional 376 shares during the period. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director David P. Bolger sold 5,000 shares of Ryan Specialty stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $70.80, for a total transaction of $354,000.00. Following the completion of the transaction, the director directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark Stephen Katz sold 14,377 shares of Ryan Specialty 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 transaction, the executive vice president directly owned 1,117 shares of the company's stock, valued at $73,543.28. This represents a 92.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 52.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RYAN. Cantor Fitzgerald raised shares of Ryan Specialty to a "hold" rating in a report on Wednesday, August 13th. Citigroup began coverage on shares of Ryan Specialty in a report on Wednesday, August 13th. They issued a "buy" rating and a $74.00 price target for the company. UBS Group reduced their price target on shares of Ryan Specialty from $84.00 to $80.00 and set a "buy" rating for the company in a report on Monday, August 4th. Barclays reduced their price target on shares of Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating for the company in a report on Monday, July 7th. Finally, Morgan Stanley reduced their price target on shares of Ryan Specialty from $78.00 to $71.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $75.08.

Ryan Specialty Price Performance

NYSE:RYAN opened at $59.14 on Monday. The company has a 50-day moving average of $64.25 and a 200-day moving average of $67.75. The company has a market capitalization of $15.60 billion, a price-to-earnings ratio of 168.98, a PEG ratio of 1.64 and a beta of 0.64. Ryan Specialty Holdings Inc. has a 52 week low of $55.77 and a 52 week high of $77.16. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.01 and a current ratio of 1.01.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.66 EPS for the quarter, hitting analysts' consensus estimates of $0.66. The company had revenue of $855.17 million during the quarter, compared to the consensus estimate of $837.52 million. Ryan Specialty had a net margin of 6.81% and a return on equity of 48.70%. The firm's revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period last year, the firm earned $0.58 EPS. As a group, equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, August 12th. Ryan Specialty's dividend payout ratio (DPR) is currently 137.14%.

About Ryan Specialty

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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