Ryan Specialty Holdings Inc. $RYAN Shares Newly Acquired by Gerber Kawasaki Wealth & Investment Management

Key Points

• Gerber Kawasaki initiated a position in Ryan Specialty, purchasing 23,077 shares worth approximately $854,000 in the third quarter; institutional investors and hedge funds collectively own 84.82% of the stock.
• Ryan Specialty reported quarterly EPS of $0.51, beating the $0.49 consensus, while revenue of $789.96 million came in slightly below analysts’ expectations.
• Analysts’ average rating is Hold, with an average price target of $52.15. The company also announced a quarterly dividend of $0.13 per share.

Gerber Kawasaki Wealth & Investment Management bought a new stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 23,077 shares of the company's stock, valued at approximately $854,000.

Other institutional investors have also made changes to their positions in the company. Vulcan Value Partners LLC raised its position in Ryan Specialty by 20.0% in the second quarter. Vulcan Value Partners LLC now owns 7,912,669 shares of the company's stock worth $298,782,000 after purchasing an additional 1,317,334 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Ryan Specialty by 0.9% during the first quarter. Principal Financial Group Inc. now owns 4,411,837 shares of the company's stock worth $148,856,000 after purchasing an additional 37,339 shares during the period. Bank of America Corp DE raised its holdings in shares of Ryan Specialty by 34.8% in the 1st quarter. Bank of America Corp DE now owns 1,508,083 shares of the company's stock worth $50,883,000 after buying an additional 389,505 shares in the last quarter. Fenimore Asset Management Inc lifted its position in shares of Ryan Specialty by 1.8% during the 3rd quarter. Fenimore Asset Management Inc now owns 1,330,600 shares of the company's stock worth $49,232,000 after buying an additional 23,994 shares during the period. Finally, Guardian Point Capital LP boosted its stake in 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 buying an additional 75,000 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. The Goldman Sachs Group upped their price target on Ryan Specialty from $40.00 to $45.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. JPMorgan Chase & Co. increased their price objective on Ryan Specialty from $39.00 to $45.00 and gave the stock an "underweight" rating in a research note on Monday, August 3rd. Citigroup lifted their price objective on Ryan Specialty from $50.00 to $53.50 and gave the company a "buy" rating in a report on Monday, August 3rd. Atlantic Securities set a $69.00 target price on shares of Ryan Specialty in a research note on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Ryan Specialty from $48.00 to $54.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $52.15.

Ryan Specialty Trading Up 0.4%

RYAN stock opened at $45.67 on Wednesday. The company has a market cap of $11.68 billion, a P/E ratio of 56.39, a PEG ratio of 0.96 and a beta of 0.54. Ryan Specialty Holdings Inc. has a twelve month low of $29.28 and a twelve month high of $58.94. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 4.03. The business has a fifty day moving average of $40.49 and a 200-day moving average of $39.12.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.02. The business had revenue of $789.96 million for the quarter, compared to analysts' expectations of $792.99 million. Ryan Specialty had a return on equity of 47.77% and a net margin of 8.25%. During the same quarter last year, the business earned $0.47 earnings per share. As a group, equities research analysts expect that Ryan Specialty Holdings Inc. will post 2.17 EPS for the current year.

Ryan Specialty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, November 10th will be given a dividend of $0.13 per share. The ex-dividend date is Tuesday, November 10th. This represents a $0.52 dividend on an annualized basis and a yield of 1.1%. Ryan Specialty's dividend payout ratio is presently 64.20%.

About Ryan Specialty

Ryan Specialty Holdings, Inc is a specialty insurance services company that provides wholesale brokerage, managing general underwriting and delegated authority solutions. The company works with retail insurance brokers, agents, carriers and other market participants to place and manage complex, specialty risks that may require specialized underwriting expertise or customized coverage.

Its business includes specialty insurance and reinsurance brokerage, underwriting management and insurance program administration.

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