Ryan Specialty Holdings Inc. $RYAN Shares Acquired by Confluence Investment Management LLC

Key Points

• Confluence Investment Management increased its Ryan Specialty stake by 64.6% in the third quarter, purchasing 122,139 additional shares and bringing its holdings to 311,140 shares worth approximately $11.5 million.
• Institutional investors and hedge funds own 84.82% of Ryan Specialty, with several major firms—including T. Rowe Price and Bank of America—also increasing their positions.
• Ryan Specialty exceeded quarterly earnings and revenue expectations, reporting $0.74 in earnings per share and $916.65 million in revenue. Analysts maintain a consensus “Hold” rating with an average price target of $52.97, while the company pays a quarterly dividend of $0.13 per share.

Confluence Investment Management LLC boosted its holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 64.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 311,140 shares of the company's stock after purchasing an additional 122,139 shares during the quarter. Confluence Investment Management LLC owned about 0.12% of Ryan Specialty worth $11,512,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RYAN. Guardian Point Capital LP increased its stake in shares of Ryan Specialty by 15.0% in the 1st quarter. Guardian Point Capital LP now owns 575,000 shares of the company's stock valued at $19,400,000 after acquiring an additional 75,000 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Ryan Specialty by 34.8% during the 1st quarter. Bank of America Corp DE now owns 1,508,083 shares of the company's stock valued at $50,883,000 after acquiring an additional 389,505 shares during the period. Entropy Technologies LP bought a new position in Ryan Specialty during the first quarter worth $2,189,000. T. Rowe Price Investment Management Inc. boosted its stake in Ryan Specialty by 79.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,552,002 shares of the company's stock worth $389,910,000 after acquiring an additional 3,353,926 shares in the last quarter. Finally, Independent Franchise Partners LLP grew its holdings in Ryan Specialty by 24.4% in the fourth quarter. Independent Franchise Partners LLP now owns 2,115,313 shares of the company's stock worth $109,214,000 after purchasing an additional 415,560 shares during the period. 84.82% of the stock is owned by institutional investors and hedge funds.

Ryan Specialty Stock Up 3.4%

RYAN stock traded up $1.24 during midday trading on Thursday, reaching $38.24. 655,266 shares of the company's stock traded hands, compared to its average volume of 2,215,789. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 3.51. The firm's fifty day moving average price is $41.60 and its 200-day moving average price is $37.53. Ryan Specialty Holdings Inc. has a 52 week low of $29.28 and a 52 week high of $59.19. The company has a market cap of $9.78 billion, a price-to-earnings ratio of 53.14, a P/E/G ratio of 0.75 and a beta of 0.57.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.14. The firm had revenue of $916.65 million for the quarter, compared to analyst estimates of $873.93 million. Ryan Specialty had a net margin of 7.55% and a return on equity of 43.97%. The business's quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $0.66 earnings per share. As a group, sell-side analysts forecast that Ryan Specialty Holdings Inc. will post 2.18 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. Ryan Specialty's payout ratio is presently 72.22%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Mizuho decreased their price target on shares of Ryan Specialty from $48.00 to $43.00 and set a "neutral" rating for the company in a research note on Wednesday, September 16th. Citigroup increased their price objective on shares of Ryan Specialty from $50.00 to $53.50 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Zacks Research upgraded Ryan Specialty from a "strong sell" rating to a "hold" rating in a research note on Tuesday, June 30th. Wolfe Research lowered Ryan Specialty from an "outperform" rating to a "peer perform" rating in a research report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods upped their price target on Ryan Specialty from $48.00 to $54.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Eight analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Ryan Specialty has a consensus rating of "Hold" and an average price target of $52.97.

Ryan Specialty Profile

Ryan Specialty Holdings, Inc is a specialty insurance services company that supports insurance brokers, agents, carriers and other industry participants. Its businesses focus on areas of the market that often require specialized underwriting expertise, distribution capabilities and risk-management knowledge.

The company operates through wholesale brokerage, underwriting management and delegated authority platforms. Its products and services address a range of specialty lines, including property and casualty insurance, professional liability, cyber coverage, transactional risk, transportation, environmental risks and other complex or hard-to-place exposures.

Ryan Specialty was founded in 2010 by Patrick G.

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