Bank of Nova Scotia Decreases Stock Holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Bank of Nova Scotia lowered its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYANFree Report) by 7.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,609 shares of the company’s stock after selling 693 shares during the period. Bank of Nova Scotia’s holdings in Ryan Specialty were worth $370,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in RYAN. PNC Financial Services Group Inc. lifted its holdings in shares of Ryan Specialty by 192.0% in the third quarter. PNC Financial Services Group Inc. now owns 549 shares of the company’s stock valued at $27,000 after purchasing an additional 361 shares in the last quarter. Alliance Wealth Advisors LLC UT lifted its holdings in shares of Ryan Specialty by 3.1% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 19,187 shares of the company’s stock valued at $825,000 after purchasing an additional 581 shares in the last quarter. Torray Investment Partners LLC lifted its holdings in shares of Ryan Specialty by 2.3% in the fourth quarter. Torray Investment Partners LLC now owns 40,996 shares of the company’s stock valued at $1,764,000 after purchasing an additional 923 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Ryan Specialty by 1,283.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,010 shares of the company’s stock valued at $43,000 after purchasing an additional 937 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Ryan Specialty by 1.1% in the fourth quarter. US Bancorp DE now owns 94,291 shares of the company’s stock valued at $4,056,000 after purchasing an additional 982 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Ryan Specialty from $47.00 to $49.00 and gave the company an “underweight” rating in a report on Monday, April 8th. Keefe, Bruyette & Woods boosted their price objective on shares of Ryan Specialty from $56.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Bank of America assumed coverage on shares of Ryan Specialty in a research report on Wednesday, May 22nd. They issued a “buy” rating and a $67.00 price objective for the company. Citigroup boosted their price objective on shares of Ryan Specialty from $49.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Finally, Wolfe Research lowered shares of Ryan Specialty from an “outperform” rating to a “peer perform” rating in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Ryan Specialty currently has a consensus rating of “Hold” and an average target price of $55.67.

Check Out Our Latest Report on Ryan Specialty

Ryan Specialty Stock Performance

Shares of RYAN stock opened at $53.85 on Monday. Ryan Specialty Holdings, Inc. has a one year low of $41.49 and a one year high of $57.09. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.15 and a current ratio of 1.15. The company has a 50 day moving average price of $52.71 and a 200 day moving average price of $48.75. The firm has a market capitalization of $14.03 billion, a price-to-earnings ratio of 101.60, a price-to-earnings-growth ratio of 1.40 and a beta of 0.61.

Ryan Specialty (NYSE:RYANGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. Ryan Specialty had a net margin of 9.15% and a return on equity of 45.87%. The company had revenue of $552.00 million during the quarter, compared to the consensus estimate of $549.06 million. During the same period in the previous year, the firm earned $0.26 earnings per share. Ryan Specialty’s revenue for the quarter was up 20.6% on a year-over-year basis. Sell-side analysts anticipate that Ryan Specialty Holdings, Inc. will post 1.77 EPS for the current year.

Ryan Specialty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.44 dividend on an annualized basis and a yield of 0.82%. Ryan Specialty’s dividend payout ratio (DPR) is 83.02%.

About Ryan Specialty

(Free Report)

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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Institutional Ownership by Quarter for Ryan Specialty (NYSE:RYAN)

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