T. Rowe Price Investment Management Inc. Increases Stock Holdings in Ryan Specialty Holdings Inc. $RYAN

Key Points

• T. Rowe Price Investment Management Inc. has increased its holdings in Ryan Specialty Holdings Inc. by 0.5%, owning now 2,378,573 shares worth approximately $175.7 million.
• Several institutional investors significantly boosted their stakes in Ryan Specialty, with Principal Financial Group increasing its position by 66.4% and Millennium Management increasing its holdings by 1,111.4% in recent quarters.
• Ryan Specialty announced a quarterly dividend of $0.12 per share, representing a yield of 0.8%, and its stock has been assigned a consensus rating of "Moderate Buy" by analysts, with an average price target of $74.83.

T. Rowe Price Investment Management Inc. increased its holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,378,573 shares of the company's stock after buying an additional 12,573 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 0.91% of Ryan Specialty worth $175,706,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. boosted its position in Ryan Specialty by 281.6% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company's stock worth $25,000 after purchasing an additional 245 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in Ryan Specialty in the 1st quarter worth approximately $35,000. Fifth Third Bancorp boosted its position in Ryan Specialty by 202.5% in the 1st quarter. Fifth Third Bancorp now owns 484 shares of the company's stock worth $36,000 after purchasing an additional 324 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in Ryan Specialty in the 4th quarter worth approximately $36,000. Finally, Covestor Ltd boosted its position in Ryan Specialty by 404.7% in the 1st quarter. Covestor Ltd now owns 858 shares of the company's stock worth $63,000 after purchasing an additional 688 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company's stock.

Ryan Specialty Trading Down 1.4%

Shares of RYAN traded down $0.8550 during midday trading on Monday, reaching $58.1850. The company had a trading volume of 308,537 shares, compared to its average volume of 1,073,759. Ryan Specialty Holdings Inc. has a 1-year low of $55.77 and a 1-year high of $77.16. The stock has a market cap of $15.34 billion, a PE ratio of 165.98, a price-to-earnings-growth ratio of 1.64 and a beta of 0.64. The firm has a 50 day simple moving average of $63.60 and a 200-day simple moving average of $67.45. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.88.

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

Ryan Specialty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, August 12th. Ryan Specialty's dividend payout ratio (DPR) is presently 137.14%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RYAN shares. Wall Street Zen upgraded Ryan Specialty from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Morgan Stanley dropped their price target 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. Citigroup initiated coverage on Ryan Specialty in a report on Wednesday, August 13th. They issued a "buy" rating and a $74.00 price objective on the stock. UBS Group decreased their price objective on Ryan Specialty from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Finally, Wells Fargo & Company decreased their price objective on Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $74.83.

Insider Transactions at Ryan Specialty

In related news, Director David P. Bolger sold 5,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $70.80, for a total transaction of $354,000.00. Following the completion of the sale, the director directly owned 71,467 shares of the company's stock, valued at approximately $5,059,863.60. This trade represents a 6.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Stephen Katz sold 14,377 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $65.84, for a total value of $946,581.68. Following the sale, the executive vice president directly owned 1,117 shares of the company's stock, valued at $73,543.28. The trade was a 92.79% decrease in their ownership of the stock. 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.