Westfield Capital Management Co. LP Has $79.65 Million Position in Ryan Specialty Holdings Inc. (NYSE:RYAN)

Key Points

• Westfield Capital Management Co. LP increased its position in Ryan Specialty Holdings Inc. by 61.3%, owning approximately $79.65 million in shares as of the latest SEC filing.
• Ryan Specialty reported a quarterly revenue of $855.17 million, exceeding analyst expectations, with an earnings per share (EPS) of $0.66 for the quarter.
• The firm announced a quarterly dividend of $0.12 per share, representing an annualized yield of 0.8%, with a payout ratio currently at 137.14%.

Westfield Capital Management Co. LP increased its holdings in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 61.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,078,233 shares of the company's stock after acquiring an additional 409,649 shares during the quarter. Westfield Capital Management Co. LP owned about 0.41% of Ryan Specialty worth $79,649,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Ryan Specialty by 281.6% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company's stock worth $25,000 after acquiring an additional 245 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Ryan Specialty during the 1st quarter worth approximately $35,000. Fifth Third Bancorp increased its holdings in shares of Ryan Specialty by 202.5% during the 1st quarter. Fifth Third Bancorp now owns 484 shares of the company's stock worth $36,000 after acquiring an additional 324 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of Ryan Specialty during the 4th quarter worth approximately $36,000. Finally, Headlands Technologies LLC increased its holdings in shares of Ryan Specialty by 2,644.8% during the 4th quarter. Headlands Technologies LLC now owns 796 shares of the company's stock worth $51,000 after acquiring an additional 767 shares during the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Ryan Specialty Stock Performance

RYAN opened at $57.97 on Monday. The firm has a market cap of $15.21 billion, a P/E ratio of 165.63, a price-to-earnings-growth ratio of 1.57 and a beta of 0.64. Ryan Specialty Holdings Inc. has a 52-week low of $55.77 and a 52-week high of $77.16. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.05 and a current ratio of 1.01. The business's fifty day moving average is $66.47 and its 200-day moving average is $68.22.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.66 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.66. The company had revenue of $855.17 million for the quarter, compared to analyst estimates of $837.52 million. Ryan Specialty had a return on equity of 48.70% and a net margin of 6.81%. Ryan Specialty's quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 EPS. Sell-side analysts expect 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 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, August 12th. Ryan Specialty's dividend payout ratio is currently 137.14%.

Insider Buying and Selling at Ryan Specialty

In related news, Director David P. Bolger sold 5,000 shares of the company's stock in a transaction on 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 in the company, valued at $5,059,863.60. This represents a 6.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark Stephen Katz sold 14,377 shares of the company's stock in a transaction on 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 owned 1,117 shares of the company's stock, valued at approximately $73,543.28. This represents 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 owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RYAN. Barclays decreased their price objective on Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating on the stock in a report on Monday, July 7th. Wall Street Zen raised Ryan Specialty from a "sell" rating to a "hold" rating in a report on Sunday. The Goldman Sachs Group raised Ryan Specialty from a "neutral" rating to a "buy" rating and upped their price objective for the company from $74.00 to $81.00 in a report on Tuesday, May 13th. Keefe, Bruyette & Woods decreased their price objective on Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Finally, Morgan Stanley decreased their price objective on Ryan Specialty from $80.00 to $78.00 and set an "overweight" rating on the stock in a report on Monday, July 14th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $77.70.

Ryan Specialty Company 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.

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