Ryan Specialty Holdings Inc. (NYSE:RYAN) Shares Acquired by Swiss National Bank

Swiss National Bank lifted its position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 2.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 206,100 shares of the company's stock after buying an additional 4,900 shares during the period. Swiss National Bank owned approximately 0.08% of Ryan Specialty worth $15,225,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in Ryan Specialty by 66.4% in the 1st quarter. Principal Financial Group Inc. now owns 3,051,356 shares of the company's stock valued at $225,404,000 after purchasing an additional 1,218,147 shares in the last quarter. Millennium Management LLC increased its holdings in Ryan Specialty by 1,111.4% in the 4th quarter. Millennium Management LLC now owns 1,174,086 shares of the company's stock valued at $75,329,000 after purchasing an additional 1,077,169 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in Ryan Specialty in the 1st quarter valued at $57,023,000. Wellington Management Group LLP acquired a new stake in Ryan Specialty in the 4th quarter valued at $29,599,000. Finally, Westfield Capital Management Co. LP increased its holdings in Ryan Specialty by 61.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,078,233 shares of the company's stock valued at $79,649,000 after purchasing an additional 409,649 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Ryan Specialty Stock Performance

Shares of RYAN stock opened at $60.98 on Thursday. 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 Holdings Inc. has a one year low of $55.77 and a one year high of $77.16. The company's 50-day simple moving average is $64.62 and its 200-day simple moving average is $67.81. The stock has a market capitalization of $16.08 billion, a price-to-earnings ratio of 174.23, a PEG ratio of 1.65 and a beta of 0.64.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.66 EPS for the quarter, hitting the consensus estimate 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 last year, the company posted $0.58 earnings per share. The company's quarterly revenue was up 23.0% compared to the same quarter last year. Equities analysts anticipate that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

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

Insider Activity

In other news, 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 transaction, the executive vice president owned 1,117 shares of the company's stock, valued at approximately $73,543.28. This trade represents a 92.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $354,000.00. Following the transaction, the director directly owned 71,467 shares in the company, valued at $5,059,863.60. The trade was a 6.54% decrease in their position. The disclosure for this sale can be found here. Company insiders own 52.21% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on RYAN. Barclays lowered their price target on Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating for the company in a report on Monday, July 7th. Wall Street Zen upgraded Ryan Specialty from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. The Goldman Sachs Group upgraded Ryan Specialty from a "neutral" rating to a "buy" rating and increased their price target for the company from $74.00 to $81.00 in a report on Tuesday, May 13th. Cantor Fitzgerald initiated coverage on Ryan Specialty in a research note on Tuesday. They set a "neutral" rating and a $61.00 target price for the company. Finally, Wells Fargo & Company lowered their target price on Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.08.

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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