T. Rowe Price Investment Management Inc. Boosts Stock Position 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. lifted its holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 0.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,378,573 shares of the company's stock after purchasing 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. boosted its position in Ryan Specialty by 281.6% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company's stock valued at $25,000 after buying an additional 245 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in Ryan Specialty during the 1st quarter valued at approximately $35,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Ryan Specialty in the 4th quarter valued at $36,000. Fifth Third Bancorp increased its stake in shares of Ryan Specialty by 202.5% in the first quarter. Fifth Third Bancorp now owns 484 shares of the company's stock worth $36,000 after acquiring an additional 324 shares during the period. Finally, Covestor Ltd boosted its holdings in Ryan Specialty by 404.7% in the first quarter. Covestor Ltd now owns 858 shares of the company's stock valued at $63,000 after purchasing an additional 688 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Ryan Specialty Trading Down 0.6%

RYAN stock traded down $0.32 during trading on Tuesday, reaching $57.73. 159,089 shares of the stock were exchanged, compared to its average volume of 1,071,612. Ryan Specialty Holdings Inc. has a 1 year low of $55.77 and a 1 year high of $77.16. The firm has a market capitalization of $15.22 billion, a price-to-earnings ratio of 164.96, a P/E/G ratio of 1.64 and a beta of 0.64. The business has a 50 day moving average price of $63.45 and a 200-day moving average price of $67.38. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.88.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.66 EPS for the quarter, hitting analysts' consensus estimates of $0.66. The company had revenue of $855.17 million for the quarter, compared to analysts' expectations of $837.52 million. Ryan Specialty had a return on equity of 48.70% and a net margin of 6.81%.The firm's revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.58 earnings per share. On average, research analysts predict 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 will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be issued a $0.12 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. Ryan Specialty's dividend payout ratio (DPR) is 137.14%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RYAN shares. Morgan Stanley reduced their price objective on Ryan Specialty from $71.00 to $68.00 and set an "overweight" rating for the company in a research note on Monday, August 18th. Wells Fargo & Company decreased their price target on Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. UBS Group lowered their price objective on Ryan Specialty from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Wall Street Zen raised shares of Ryan Specialty from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Finally, Cantor Fitzgerald upgraded shares of Ryan Specialty to a "hold" rating in a research note on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $74.83.

Insider Activity

In related news, Director David P. Bolger sold 5,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $70.80, for a total value of $354,000.00. Following the transaction, the director owned 71,467 shares of the company's stock, valued at $5,059,863.60. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mark Stephen Katz sold 14,377 shares of Ryan Specialty stock in a transaction on Friday, June 13th. The stock was sold at an average price of $65.84, for a total transaction of $946,581.68. Following the sale, the executive vice president owned 1,117 shares in the company, valued at $73,543.28. This represents a 92.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.