Ryan Specialty Holdings Inc. $RYAN Stock Holdings Increased by Voya Investment Management LLC

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 raised its holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 43.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 147,872 shares of the company's stock after buying an additional 44,843 shares during the period. Voya Investment Management LLC owned approximately 0.06% of Ryan Specialty worth $10,923,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Flaharty Asset Management LLC raised its holdings in shares of Ryan Specialty by 40.0% in the 1st quarter. Flaharty Asset Management LLC now owns 7,000 shares of the company's stock valued at $517,000 after purchasing an additional 2,000 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Ryan Specialty by 11.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 332,823 shares of the company's stock valued at $24,586,000 after purchasing an additional 33,667 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of Ryan Specialty in the 1st quarter valued at $40,278,000. United Services Automobile Association acquired a new stake in shares of Ryan Specialty in the 1st quarter valued at $490,000. Finally, Fred Alger Management LLC raised its holdings in shares of Ryan Specialty by 165.9% in the 1st quarter. Fred Alger Management LLC now owns 168,694 shares of the company's stock valued at $12,461,000 after purchasing an additional 105,250 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on RYAN shares. Citigroup started coverage on shares of Ryan Specialty in a research note on Wednesday, August 13th. They set a "buy" rating and a $74.00 price target on the stock. UBS Group dropped their price objective on shares of Ryan Specialty from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Wells Fargo & Company upgraded shares of Ryan Specialty from an "equal weight" rating to an "overweight" rating and set a $60.00 price objective on the stock in a research note on Wednesday. Morgan Stanley dropped their price objective on shares of Ryan Specialty from $71.00 to $68.00 and set an "overweight" rating on the stock in a research note on Monday, August 18th. Finally, Cantor Fitzgerald upgraded shares of Ryan Specialty to a "hold" rating in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.00.

Ryan Specialty Stock Performance

Shares of RYAN stock traded up $0.33 during trading hours on Friday, reaching $53.45. The stock had a trading volume of 5,257,758 shares, compared to its average volume of 1,478,591. The company has a debt-to-equity ratio of 2.88, a current ratio of 1.01 and a quick ratio of 1.01. Ryan Specialty Holdings Inc. has a twelve month low of $50.08 and a twelve month high of $77.16. The firm has a 50-day simple moving average of $58.70 and a 200-day simple moving average of $65.51. The firm has a market capitalization of $14.09 billion, a PE ratio of 152.72, a price-to-earnings-growth ratio of 1.48 and a beta of 0.63.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.66 earnings per share for the quarter, hitting analysts' consensus estimates of $0.66. Ryan Specialty had a net margin of 6.81% and a return on equity of 48.70%. The business had revenue of $855.17 million for the quarter, compared to analysts' expectations of $837.52 million. During the same quarter last year, the company earned $0.58 EPS. The company's revenue for the quarter was up 23.0% compared to the same quarter last year. As a group, equities analysts forecast that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.12 per share. 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 dividend payout ratio (DPR) is presently 137.14%.

Insider Buying and Selling

In related news, Chairman Patrick G. Ryan bought 276,634 shares of the stock in a transaction on Friday, September 12th. The shares were purchased at an average price of $51.84 per share, with a total value of $14,340,706.56. Following the purchase, the chairman owned 13,699,959 shares in the company, valued at approximately $710,205,874.56. This represents a 2.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 52.21% of the company's stock.

Ryan Specialty 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.