Richard Bernstein Advisors LLC Acquires Shares of 52,787 Ryan Specialty Holdings Inc. (NYSE:RYAN)

Richard Bernstein Advisors LLC acquired a new stake in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 52,787 shares of the company's stock, valued at approximately $3,899,000.

Other large investors have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. acquired a new position in shares of Ryan Specialty during the 4th quarter worth $27,000. Golden State Wealth Management LLC acquired a new position in shares of Ryan Specialty during the 1st quarter worth $35,000. Kapitalo Investimentos Ltda acquired a new position in shares of Ryan Specialty during the 4th quarter worth $36,000. Fifth Third Bancorp increased its stake in shares of Ryan Specialty by 202.5% during the 1st quarter. Fifth Third Bancorp now owns 484 shares of the company's stock worth $36,000 after purchasing an additional 324 shares during the last quarter. Finally, Mizuho Bank Ltd. acquired a new position in Ryan Specialty in the 4th quarter valued at $49,000. Institutional investors and hedge funds own 84.82% of the company's stock.

Ryan Specialty Stock Performance

Ryan Specialty stock traded down $0.40 during mid-day trading on Monday, reaching $66.38. The company had a trading volume of 1,068,021 shares, compared to its average volume of 919,383. The company has a 50 day moving average of $68.07 and a 200-day moving average of $68.12. The firm has a market cap of $17.42 billion, a price-to-earnings ratio of 195.24, a PEG ratio of 1.78 and a beta of 0.66. Ryan Specialty Holdings Inc. has a 52 week low of $55.67 and a 52 week high of $77.16. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 3.45.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.39 EPS for the quarter, hitting analysts' consensus estimates of $0.39. The company had revenue of $690.17 million during the quarter, compared to the consensus estimate of $680.80 million. Ryan Specialty had a net margin of 6.97% and a return on equity of 47.70%. The firm's revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period last year, the firm earned $0.35 EPS. On average, sell-side analysts expect that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.72%. The ex-dividend date was Tuesday, May 13th. Ryan Specialty's dividend payout ratio is currently 141.18%.

Analysts Set New Price Targets

A number of research firms recently issued reports on RYAN. Barclays lowered their target price on shares of Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating on the stock in a research note on Monday. Morgan Stanley raised their target price on shares of Ryan Specialty from $78.00 to $80.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. The Goldman Sachs Group upgraded shares of Ryan Specialty from a "neutral" rating to a "buy" rating and raised their target price for the company from $74.00 to $81.00 in a research note on Tuesday, May 13th. TD Cowen began coverage on shares of Ryan Specialty in a research note on Thursday, April 10th. They issued a "buy" rating and a $89.00 target price on the stock. Finally, Wells Fargo & Company lowered their target price on shares of Ryan Specialty from $69.00 to $66.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $75.25.

Insider Activity

In related news, 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 completion of the transaction, the executive vice president directly owned 1,117 shares of the company's stock, valued at $73,543.28. This trade represents a 92.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the director directly owned 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. Company insiders own 52.21% of the company's stock.

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.