TD Asset Management Inc Takes $611,000 Position in Ryan Specialty Holdings Inc. $RYAN

Key Points

• TD Asset Management Inc has acquired a new position in Ryan Specialty Holdings, purchasing 8,990 shares worth approximately $611,000.
• Ryan Specialty's Chairman Patrick G. Ryan purchased 276,634 shares recently, totaling over $14 million, increasing his stake by 2.06%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Ryan Specialty, with a target price averaging around $71.08.

TD Asset Management Inc purchased a new stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,990 shares of the company's stock, valued at approximately $611,000.

A number of other large investors also recently modified their holdings of the business. Crossmark Global Holdings Inc. increased its holdings in shares of Ryan Specialty by 2.9% during the first quarter. Crossmark Global Holdings Inc. now owns 7,351 shares of the company's stock valued at $543,000 after purchasing an additional 207 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Ryan Specialty by 281.6% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company's stock valued at $25,000 after purchasing an additional 245 shares during the period. State of Michigan Retirement System increased its holdings in shares of Ryan Specialty by 1.2% during the first quarter. State of Michigan Retirement System now owns 25,500 shares of the company's stock valued at $1,884,000 after purchasing an additional 300 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of Ryan Specialty by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 29,800 shares of the company's stock valued at $2,201,000 after purchasing an additional 300 shares during the period. Finally, Xponance Inc. boosted its stake in Ryan Specialty by 1.6% during the first quarter. Xponance Inc. now owns 21,242 shares of the company's stock valued at $1,569,000 after buying an additional 329 shares in the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ryan Specialty news, Chairman Patrick G. Ryan acquired 276,634 shares of the firm's stock in a transaction on Friday, September 12th. The stock was purchased at an average cost of $51.84 per share, for a total transaction of $14,340,706.56. Following the transaction, the chairman owned 13,699,959 shares of the company's stock, valued at $710,205,874.56. The trade was a 2.06% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 52.21% of the company's stock.

Wall Street Analysts Forecast Growth

RYAN has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on Ryan Specialty from $60.00 to $64.00 and gave the stock an "overweight" rating in a report on Wednesday, October 8th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Ryan Specialty in a report on Wednesday, October 8th. Wall Street Zen raised Ryan Specialty from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Cantor Fitzgerald raised Ryan Specialty to a "hold" rating in a report on Wednesday, August 13th. Finally, Barclays reaffirmed an "overweight" rating and set a $70.00 target price on shares of Ryan Specialty in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Ryan Specialty has a consensus rating of "Moderate Buy" and a consensus target price of $71.08.

Ryan Specialty Trading Up 0.3%

Shares of RYAN opened at $53.11 on Friday. The business's 50-day moving average price is $55.31 and its 200 day moving average price is $62.83. The stock has a market capitalization of $14.00 billion, a P/E ratio of 151.73, a P/E/G ratio of 1.46 and a beta of 0.63. Ryan Specialty Holdings Inc. has a 1-year low of $50.08 and a 1-year high of $77.16. 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 issued its quarterly earnings results on Thursday, July 31st. The company reported $0.66 earnings per share for the quarter, hitting analysts' consensus estimates of $0.66. The firm 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%.Ryan Specialty's revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the business posted $0.58 EPS. Analysts expect that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors 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 dividend on an annualized basis and a yield of 0.9%. Ryan Specialty's dividend payout ratio (DPR) is currently 137.14%.

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.

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