14,292 Shares in Ryan Specialty Holdings Inc. (NYSE:RYAN) Bought by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. acquired a new stake in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,292 shares of the company's stock, valued at approximately $1,056,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. 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 buying an additional 376 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in Ryan Specialty by 6,911.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 785,928 shares of the company's stock worth $48,036,000 after buying an additional 774,718 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Ryan Specialty by 3.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,215 shares of the company's stock worth $902,000 after buying an additional 460 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Ryan Specialty by 982.1% during the fourth quarter. Jones Financial Companies Lllp now owns 1,450 shares of the company's stock worth $93,000 after buying an additional 1,316 shares in the last quarter. Finally, Natixis Advisors LLC boosted its holdings in Ryan Specialty by 95.9% during the fourth quarter. Natixis Advisors LLC now owns 59,649 shares of the company's stock worth $3,827,000 after buying an additional 29,204 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RYAN has been the subject of a number of research reports. TD Cowen initiated coverage on shares of Ryan Specialty in a report on Thursday, April 10th. They set a "buy" rating and a $89.00 target price for the company. Keefe, Bruyette & Woods decreased their price objective on shares of Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Morgan Stanley decreased their price objective on shares of Ryan Specialty from $80.00 to $78.00 and set an "overweight" rating for the company in a research note on Monday. Wells Fargo & Company decreased their price objective on shares of Ryan Specialty from $65.00 to $63.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Finally, The Goldman Sachs Group raised shares of Ryan Specialty from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $74.00 to $81.00 in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $74.83.

Ryan Specialty Stock Down 1.9%

RYAN stock traded down $1.29 during midday trading on Friday, reaching $65.87. The company had a trading volume of 346,403 shares, compared to its average volume of 926,181. Ryan Specialty Holdings Inc. has a 1 year low of $56.59 and a 1 year high of $77.16. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 3.45. The company has a market capitalization of $17.29 billion, a P/E ratio of 193.67, a PEG ratio of 1.80 and a beta of 0.66. The company has a 50 day moving average of $67.80 and a two-hundred day moving average of $68.16.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.39. Ryan Specialty had a net margin of 6.97% and a return on equity of 47.70%. The company had revenue of $690.17 million during the quarter, compared to the consensus estimate of $680.80 million. During the same quarter in the prior year, the firm earned $0.35 EPS. The company's revenue was up 25.0% compared to the same quarter last year. On average, equities research analysts expect that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, May 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.73%. Ryan Specialty's dividend payout ratio is currently 141.18%.

Insiders Place Their Bets

In other news, Director David P. Bolger sold 5,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $70.80, for a total transaction of $354,000.00. Following the transaction, the director owned 71,467 shares in the company, valued at approximately $5,059,863.60. This trade represents a 6.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Stephen Katz sold 14,377 shares of the firm's stock in a transaction 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 transaction, the executive vice president owned 1,117 shares in the company, valued at $73,543.28. This represents a 92.79% decrease in their position. The disclosure for this sale can be found here. 52.21% of the stock is currently owned by company 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.