Millennium Management LLC Raises Stock Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Millennium Management LLC boosted its holdings in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 1,111.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,174,086 shares of the company's stock after acquiring an additional 1,077,169 shares during the period. Millennium Management LLC owned 0.45% of Ryan Specialty worth $75,329,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Ryan Specialty by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 9,880,504 shares of the company's stock valued at $633,933,000 after acquiring an additional 529,631 shares in the last quarter. Bessemer Group Inc. increased its stake in Ryan Specialty by 2.5% during the 4th quarter. Bessemer Group Inc. now owns 3,283,216 shares of the company's stock valued at $210,651,000 after purchasing an additional 79,976 shares in the last quarter. Blair William & Co. IL raised its holdings in Ryan Specialty by 0.6% in the fourth quarter. Blair William & Co. IL now owns 2,765,963 shares of the company's stock worth $177,464,000 after buying an additional 16,540 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Ryan Specialty by 115.2% in the fourth quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company's stock worth $117,619,000 after buying an additional 981,505 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of 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 acquiring an additional 46,960 shares in the last quarter. Institutional investors own 84.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company lowered their price objective on Ryan Specialty from $69.00 to $66.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. The Goldman Sachs Group raised Ryan Specialty from a "neutral" rating to a "buy" rating and increased their price objective for the company from $74.00 to $81.00 in a research report on Tuesday, May 13th. TD Cowen started coverage on Ryan Specialty in a report on Thursday, April 10th. They issued a "buy" rating and a $89.00 price objective for the company. Barclays lowered their target price on shares of Ryan Specialty from $88.00 to $83.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Finally, UBS Group lifted their price target on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.58.

Insider Activity at Ryan Specialty

In related news, EVP Brendan Martin Mulshine sold 30,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $69.30, for a total value of $2,079,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.10% of the stock is owned by company insiders.

Ryan Specialty Stock Performance

Shares of NYSE:RYAN traded down $0.78 during trading on Wednesday, hitting $69.81. The company's stock had a trading volume of 204,620 shares, compared to its average volume of 977,738. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $18.32 billion, a price-to-earnings ratio of 101.01, a P/E/G ratio of 1.19 and a beta of 0.68. The company has a 50-day moving average of $70.22 and a 200-day moving average of $68.78. Ryan Specialty Holdings, Inc. has a 12 month low of $52.34 and a 12 month high of $77.16.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.39 earnings per share for the quarter, hitting the consensus estimate of $0.39. The business had revenue of $690.17 million for the quarter, compared to the consensus estimate of $680.80 million. Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The company's quarterly revenue was up 25.0% on a year-over-year basis. During the same period last year, the firm earned $0.35 earnings per share. On average, sell-side analysts expect that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.69%. Ryan Specialty's dividend payout ratio is currently 141.18%.

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.