Ryan Specialty Holdings Inc. (NYSE:RYAN) Shares Purchased by Westfield Capital Management Co. LP

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

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bessemer Group Inc. raised its position in shares of Ryan Specialty by 2.5% in the fourth quarter. Bessemer Group Inc. now owns 3,283,216 shares of the company's stock worth $210,651,000 after acquiring an additional 79,976 shares during the period. Principal Financial Group Inc. increased its holdings in Ryan Specialty by 66.4% in the 1st quarter. Principal Financial Group Inc. now owns 3,051,356 shares of the company's stock worth $225,404,000 after acquiring an additional 1,218,147 shares in the last quarter. Blair William & Co. IL raised its position in Ryan Specialty by 0.7% during the first quarter. Blair William & Co. IL now owns 2,784,916 shares of the company's stock worth $205,722,000 after acquiring an additional 18,953 shares during the period. Geode Capital Management LLC lifted its holdings in Ryan Specialty by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 1,799,130 shares of the company's stock valued at $115,468,000 after purchasing an additional 46,960 shares in the last quarter. Finally, Barclays PLC grew its position in shares of Ryan Specialty by 3.0% in the fourth quarter. Barclays PLC now owns 1,690,279 shares of the company's stock valued at $108,449,000 after purchasing an additional 48,536 shares during the period. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Ryan Specialty news, Director David P. Bolger sold 5,000 shares of Ryan Specialty stock in a transaction on Tuesday, June 3rd. The shares were 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 in the company, valued at $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 is available through this link. Also, EVP Mark Stephen Katz sold 14,377 shares of Ryan Specialty stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $65.84, for a total value of $946,581.68. Following the completion of the transaction, the executive vice president directly 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. 52.21% of the stock is owned by insiders.

Analyst Ratings Changes

RYAN has been the topic of several research analyst reports. 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 report on Monday. The Goldman Sachs Group raised shares of Ryan Specialty from a "neutral" rating to a "buy" rating and raised their price target for the stock from $74.00 to $81.00 in a research note on Tuesday, May 13th. Wall Street Zen raised Ryan Specialty from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Barclays dropped their price target on shares of Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating for the company in a research note on Monday, July 7th. Finally, Morgan Stanley cut their price objective on Ryan Specialty from $80.00 to $78.00 and set an "overweight" rating for the company in a research report on Monday, July 14th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $77.30.

Ryan Specialty Price Performance

NYSE RYAN traded down $0.88 during mid-day trading on Friday, hitting $58.67. The stock had a trading volume of 788,554 shares, compared to its average volume of 1,072,156. The company has a 50 day simple moving average of $65.56 and a 200 day simple moving average of $67.96. The company has a quick ratio of 1.05, a current ratio of 1.01 and a debt-to-equity ratio of 2.88. The company has a market cap of $15.40 billion, a price-to-earnings ratio of 167.60, a P/E/G ratio of 1.66 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.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.66 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter, compared to the consensus estimate of $837.52 million. During the same period in the prior year, the business earned $0.58 earnings per share. The business's revenue was up 23.0% on a year-over-year basis. Equities 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 declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders 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 annualized dividend and a yield of 0.8%. Ryan Specialty's payout ratio is 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.