Principal Financial Group Inc. Grows Position in Ryan Specialty Holdings Inc. (NYSE:RYAN)

Principal Financial Group Inc. boosted its holdings in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 66.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,051,356 shares of the company's stock after purchasing an additional 1,218,147 shares during the quarter. Principal Financial Group Inc. owned about 1.17% of Ryan Specialty worth $225,404,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund increased its stake in Ryan Specialty by 2.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 22,300 shares of the company's stock worth $1,647,000 after acquiring an additional 600 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Ryan Specialty in the first quarter valued at $3,297,000. Peregrine Capital Management LLC increased its position in Ryan Specialty by 3.3% in the first quarter. Peregrine Capital Management LLC now owns 226,193 shares of the company's stock worth $16,709,000 after purchasing an additional 7,170 shares during the last quarter. New York State Teachers Retirement System raised its stake in Ryan Specialty by 5.1% during the first quarter. New York State Teachers Retirement System now owns 16,538 shares of the company's stock valued at $1,222,000 after purchasing an additional 800 shares in the last quarter. Finally, Artemis Investment Management LLP bought a new position in Ryan Specialty during the first quarter valued at $57,023,000. 84.82% of the stock is owned by hedge funds and other institutional investors.

Ryan Specialty Trading Up 0.6%

RYAN stock traded up $0.39 during midday trading on Friday, reaching $66.18. The company's stock had a trading volume of 1,290,362 shares, compared to its average volume of 918,091. Ryan Specialty Holdings Inc. has a 1 year low of $55.67 and a 1 year high of $77.16. The firm has a market capitalization of $17.37 billion, a price-to-earnings ratio of 194.65, a PEG ratio of 1.75 and a beta of 0.66. The stock has a fifty day simple moving average of $68.05 and a two-hundred day simple moving average of $68.05. The company has a debt-to-equity ratio of 3.45, a quick ratio of 1.05 and a current ratio of 1.05.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. The company had revenue of $690.17 million for 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 was up 25.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.35 EPS. On average, equities research analysts predict that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current year.

Ryan Specialty Announces Dividend

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 $0.12 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.73%. Ryan Specialty's payout ratio is 141.18%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RYAN. Wells Fargo & Company reduced 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 report on Thursday, April 10th. The Goldman Sachs Group raised Ryan Specialty from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $74.00 to $81.00 in a research note on Tuesday, May 13th. TD Cowen began coverage on Ryan Specialty in a research note on Thursday, April 10th. They issued a "buy" rating and a $89.00 price objective for the company. Keefe, Bruyette & Woods cut their target price on Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, Barclays decreased their price target on Ryan Specialty from $88.00 to $83.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.58.

Insider Buying and Selling

In related news, EVP Mark Stephen Katz sold 14,377 shares of the stock in a transaction that occurred on 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 sale, the executive vice president 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David P. Bolger sold 5,000 shares of Ryan Specialty stock in a transaction 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 transaction, the director directly owned 71,467 shares in the company, 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. 52.21% of the stock is currently owned by insiders.

Ryan Specialty Company 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.