First Trust Advisors LP Acquires 160,597 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

First Trust Advisors LP increased its position in Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 41.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 548,706 shares of the company's stock after buying an additional 160,597 shares during the period. First Trust Advisors LP owned 0.21% of Ryan Specialty worth $35,205,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in shares of Ryan Specialty during the 4th quarter worth $94,484,000. Norges Bank acquired a new position in Ryan Specialty during the fourth quarter worth $78,358,000. Principal Financial Group Inc. raised its holdings in Ryan Specialty by 115.2% during the fourth quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company's stock valued at $117,619,000 after buying an additional 981,505 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Ryan Specialty by 6,911.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 785,928 shares of the company's stock worth $48,036,000 after buying an additional 774,718 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Ryan Specialty by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 9,880,504 shares of the company's stock worth $633,933,000 after acquiring an additional 529,631 shares in the last quarter. Institutional investors own 84.82% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. TD Cowen assumed coverage on Ryan Specialty in a report on Thursday, April 10th. They issued a "buy" rating and a $89.00 target price for the company. Keefe, Bruyette & Woods reduced their price objective on shares of Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. UBS Group upped their price objective on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Wells Fargo & Company dropped their target price on shares of Ryan Specialty from $69.00 to $66.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Finally, Barclays decreased their price target on shares of Ryan Specialty from $88.00 to $83.00 and set an "overweight" rating for the company in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $75.67.

Ryan Specialty Stock Performance

RYAN stock traded up $1.10 during midday trading on Wednesday, hitting $65.41. The stock had a trading volume of 1,295,241 shares, compared to its average volume of 969,675. The firm has a market capitalization of $17.13 billion, a price-to-earnings ratio of 94.80, a P/E/G ratio of 1.19 and a beta of 0.66. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. The stock has a 50-day simple moving average of $70.26 and a 200 day simple moving average of $68.83. Ryan Specialty Holdings, Inc. has a 52 week low of $48.85 and a 52 week high of $77.16.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.02). Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The business had revenue of $663.53 million for the quarter, compared to analyst estimates of $658.80 million. As a group, equities research analysts anticipate that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a $0.12 dividend. This is a positive change from Ryan Specialty's previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Tuesday, March 4th. Ryan Specialty's dividend payout ratio is currently 69.57%.

Insider Buying and Selling

In related news, EVP Brendan Martin Mulshine sold 30,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $69.30, for a total transaction of $2,079,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.10% of the stock is owned by corporate insiders.

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.