Voya Investment Management LLC Increases Stock Position in Ryan Specialty Holdings Inc. $RYAN

Key Points

• Voya Investment Management LLC increased its stake in Ryan Specialty Holdings Inc. by 43.5%, acquiring 44,843 additional shares, bringing its total ownership to approximately $10.9 million worth of stock.
• Ryan Specialty announced a quarterly dividend of $0.12 per share, resulting in an annual yield of 0.9%, with a significant dividend payout ratio of 137.14%.
• Several analysts have rated Ryan Specialty as a "Moderate Buy," with an average price target of $74.00, while the stock recently opened at $52.50.

Voya Investment Management LLC grew its holdings in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 43.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,872 shares of the company's stock after buying an additional 44,843 shares during the quarter. Voya Investment Management LLC owned 0.06% of Ryan Specialty worth $10,923,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in RYAN. GAMMA Investing LLC boosted its holdings in Ryan Specialty by 21.8% during the first quarter. GAMMA Investing LLC now owns 2,101 shares of the company's stock worth $155,000 after purchasing an additional 376 shares during the last quarter. Hsbc Holdings PLC raised its position in Ryan Specialty by 14.4% in the first quarter. Hsbc Holdings PLC now owns 4,182 shares of the company's stock worth $309,000 after acquiring an additional 528 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Ryan Specialty by 3.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,215 shares of the company's stock valued at $902,000 after purchasing an additional 460 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Ryan Specialty in the first quarter valued at approximately $467,000. Finally, Wealth Alliance LLC bought a new stake in Ryan Specialty during the 1st quarter worth approximately $303,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Ryan Specialty Trading Up 0.0%

Shares of RYAN stock traded up $0.02 on Friday, hitting $53.14. 1,239,498 shares of the company's stock traded hands, compared to its average volume of 1,130,082. The stock has a market capitalization of $14.01 billion, a price-to-earnings ratio of 151.91, a P/E/G ratio of 1.49 and a beta of 0.63. The company's fifty day simple moving average is $58.91 and its 200 day simple moving average is $65.62. Ryan Specialty Holdings Inc. has a one year low of $50.08 and a one year high of $77.16. 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 (NYSE:RYAN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.66 earnings per share for the quarter, hitting the consensus estimate of $0.66. The business had revenue of $855.17 million during the quarter, compared to the consensus estimate of $837.52 million. Ryan Specialty had a net margin of 6.81% and a return on equity of 48.70%. The firm's revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 earnings per share. Equities analysts forecast that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current year.

Ryan Specialty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.48 annualized dividend and a yield of 0.9%. Ryan Specialty's payout ratio is currently 137.14%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays decreased their target price on shares of Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating on the stock in a report on Monday, July 7th. Morgan Stanley decreased their target price on shares of Ryan Specialty from $71.00 to $68.00 and set an "overweight" rating on the stock in a report on Monday, August 18th. UBS Group decreased their target price on shares of Ryan Specialty from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Wolfe Research raised shares of Ryan Specialty to a "strong-buy" rating in a report on Tuesday. Finally, Citigroup started coverage on shares of Ryan Specialty in a research note on Wednesday, August 13th. They issued a "buy" rating and a $74.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $74.00.

Insiders Place Their Bets

In other Ryan Specialty news, Chairman Patrick G. Ryan purchased 276,634 shares of the stock in a transaction on Friday, September 12th. The stock was acquired at an average cost of $51.84 per share, with a total value of $14,340,706.56. Following the completion of the purchase, the chairman directly owned 13,699,959 shares of the company's stock, valued at approximately $710,205,874.56. This trade represents a 2.06% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 52.21% of the stock is owned by corporate insiders.

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.