5,550 Shares in Ryan Specialty Holdings, Inc. (NYSE:RYAN) Acquired by Procyon Advisors LLC

Procyon Advisors LLC acquired a new position in Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,550 shares of the company's stock, valued at approximately $410,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Rakuten Securities Inc. purchased a new stake in shares of Ryan Specialty in the fourth quarter worth $27,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Ryan Specialty in the fourth quarter worth $36,000. Principal Securities Inc. grew its stake in shares of Ryan Specialty by 164.7% in the fourth quarter. Principal Securities Inc. now owns 667 shares of the company's stock worth $43,000 after acquiring an additional 415 shares during the last quarter. Mizuho Bank Ltd. purchased a new stake in shares of Ryan Specialty in the fourth quarter worth $49,000. Finally, Headlands Technologies LLC grew its stake in shares of Ryan Specialty by 2,644.8% in the fourth quarter. Headlands Technologies LLC now owns 796 shares of the company's stock worth $51,000 after acquiring an additional 767 shares during the last quarter. Institutional investors own 84.82% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on RYAN shares. Barclays cut their target price on Ryan Specialty from $88.00 to $83.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. UBS Group increased their price objective on Ryan Specialty from $82.00 to $84.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Morgan Stanley increased their price objective on Ryan Specialty from $78.00 to $80.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. The Goldman Sachs Group raised Ryan Specialty from a "neutral" rating to a "buy" rating and increased their price objective for the company from $74.00 to $81.00 in a research report on Tuesday, May 13th. Finally, TD Cowen initiated coverage on Ryan Specialty in a research report on Thursday, April 10th. They set a "buy" rating and a $89.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $75.58.

Insiders Place Their Bets

In other news, EVP Brendan Martin Mulshine sold 30,000 shares of Ryan Specialty stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $69.30, for a total transaction of $2,079,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David P. Bolger sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $70.80, for a total transaction of $354,000.00. Following the completion of the sale, the director now directly owns 71,467 shares of the company's stock, valued at $5,059,863.60. This represents a 6.54% 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 Stock Performance

NYSE:RYAN traded down $0.04 on Wednesday, hitting $65.22. The stock had a trading volume of 799,439 shares, compared to its average volume of 993,836. The stock has a market cap of $17.11 billion, a price-to-earnings ratio of 94.52, a price-to-earnings-growth ratio of 1.19 and a beta of 0.70. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. The business's 50-day simple moving average is $69.13 and its two-hundred day simple moving average is $68.59. Ryan Specialty Holdings, Inc. has a 52-week low of $52.34 and a 52-week high of $77.16.

Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.39. The business had revenue of $690.17 million for the quarter, compared to analysts' expectations of $680.80 million. Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. The business's revenue for the quarter was up 25.0% on a year-over-year basis. During the same period last year, the firm posted $0.35 earnings per share. As a group, research analysts predict that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were given a $0.12 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $0.48 annualized dividend and a yield of 0.74%. Ryan Specialty's payout ratio is 141.18%.

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.