Pier 88 Investment Partners LLC Increases Stock Holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN)

Pier 88 Investment Partners LLC boosted its holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 84.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,260 shares of the company's stock after acquiring an additional 12,500 shares during the quarter. Pier 88 Investment Partners LLC's holdings in Ryan Specialty were worth $2,014,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. increased its position in shares of Ryan Specialty by 281.6% in the first 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 in the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Ryan Specialty in the first quarter valued at $35,000. Fifth Third Bancorp increased its position in shares of Ryan Specialty by 202.5% in the first quarter. Fifth Third Bancorp now owns 484 shares of the company's stock valued at $36,000 after buying an additional 324 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in shares of Ryan Specialty in the fourth quarter valued at $36,000. Finally, Mizuho Bank Ltd. purchased a new position in shares of Ryan Specialty in the fourth quarter valued at $49,000. Hedge funds and other institutional investors own 84.82% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on RYAN. Morgan Stanley decreased their price objective on Ryan Specialty from $80.00 to $78.00 and set an "overweight" rating on the stock in a research note on Monday, July 14th. TD Cowen initiated coverage on Ryan Specialty in a research note on Thursday, April 10th. They issued a "buy" rating and a $89.00 price target on the stock. Barclays decreased their price target on Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating on the stock in a research note on Monday, July 7th. Keefe, Bruyette & Woods decreased their price target on Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, The Goldman Sachs Group raised Ryan Specialty from a "neutral" rating to a "buy" rating and raised their price target for the stock from $74.00 to $81.00 in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Ryan Specialty presently has a consensus rating of "Moderate Buy" and an average target price of $76.00.

Ryan Specialty Trading Up 2.4%

Shares of NYSE RYAN traded up $1.56 during midday trading on Friday, hitting $65.96. The stock had a trading volume of 509,567 shares, compared to its average volume of 1,005,428. The company has a market capitalization of $17.31 billion, a price-to-earnings ratio of 193.99, a PEG ratio of 1.74 and a beta of 0.66. Ryan Specialty Holdings Inc. has a 1-year low of $59.13 and a 1-year 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. The company has a fifty day moving average price of $67.40 and a 200 day moving average price of $68.23.

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

Ryan Specialty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Tuesday, May 13th. Ryan Specialty's dividend payout ratio is currently 141.18%.

Insider Activity

In related news, Director David P. Bolger sold 5,000 shares of the firm's 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 sale, the director directly owned 71,467 shares in the company, valued at approximately $5,059,863.60. This trade represents a 6.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark Stephen Katz sold 14,377 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $65.84, for a total value of $946,581.68. Following the sale, the executive vice president owned 1,117 shares in the company, 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.

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.