Woodline Partners LP Makes New $40.28 Million Investment in Ryan Specialty Holdings Inc. $RYAN

Key Points

• Woodline Partners LP has bought 545,254 shares of Ryan Specialty Holdings Inc., equating to a stake valued at approximately $40.3 million.
• Ryan Specialty's recent quarterly earnings reported an EPS of $0.66, aligning with analysts' expectations, and its revenue increased by 23% year-over-year.
• Analysts have mixed ratings on Ryan Specialty, with several firms adjusting target prices, leading to a consensus rating of "Moderate Buy" with an average target of $74.83.

Woodline Partners LP bought a new stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 545,254 shares of the company's stock, valued at approximately $40,278,000. Woodline Partners LP owned 0.21% of Ryan Specialty as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. raised its stake in Ryan Specialty by 281.6% during the 1st 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. SVB Wealth LLC purchased a new position in shares of Ryan Specialty during the 1st quarter valued at $26,000. WPG Advisers LLC purchased a new position in shares of Ryan Specialty during the 1st quarter valued at $32,000. Golden State Wealth Management LLC purchased a new position in shares of Ryan Specialty during the 1st quarter valued at $35,000. Finally, Fifth Third Bancorp grew 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 valued at $36,000 after acquiring an additional 324 shares in the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Morgan Stanley lowered their price target on shares of Ryan Specialty from $71.00 to $68.00 and set an "overweight" rating on the stock in a report on Monday, August 18th. Barclays lowered their price target on shares of Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating on the stock in a report on Monday, July 7th. Wells Fargo & Company reduced their price objective on shares of Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. Citigroup began coverage on shares of Ryan Specialty in a research note on Wednesday, August 13th. They issued a "buy" rating and a $74.00 price objective for the company. Finally, Cantor Fitzgerald raised shares of Ryan Specialty to a "hold" rating in a research note on Wednesday, August 13th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Ryan Specialty has an average rating of "Moderate Buy" and a consensus target price of $74.83.

Insiders Place Their Bets

In other Ryan Specialty news, Chairman Patrick G. Ryan bought 276,634 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were acquired at an average price of $51.84 per share, with a total value of $14,340,706.56. Following the completion of the purchase, the chairman directly owned 13,699,959 shares in the company, valued at $710,205,874.56. The trade was a 2.06% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 52.21% of the stock is currently owned by insiders.

Ryan Specialty Price Performance

NYSE RYAN traded up $0.58 on Monday, reaching $52.20. The company's stock had a trading volume of 669,824 shares, compared to its average volume of 1,097,544. The firm has a market cap of $13.76 billion, a PE ratio of 149.23, a price-to-earnings-growth ratio of 1.44 and a beta of 0.64. The business has a 50-day moving average price of $59.96 and a 200 day moving average price of $66.04. Ryan Specialty Holdings Inc. has a 52 week low of $50.08 and a 52 week 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 posted its earnings results on Thursday, July 31st. The company reported $0.66 earnings per share for the quarter, meeting analysts' consensus estimates of $0.66. The business had revenue of $855.17 million for the quarter, compared to analysts' expectations of $837.52 million. Ryan Specialty had a net margin of 6.81% and a return on equity of 48.70%. The firm's revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.58 earnings per share. Sell-side analysts expect that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current year.

Ryan Specialty Dividend Announcement

The firm also recently announced 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 payout ratio is presently 137.14%.

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.