Thrivent Financial for Lutherans Boosts Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Thrivent Financial for Lutherans grew its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 5.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,373 shares of the company’s stock after purchasing an additional 1,573 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Ryan Specialty were worth $1,917,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Ryan Specialty by 43.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 938,187 shares of the company’s stock valued at $62,286,000 after purchasing an additional 286,380 shares in the last quarter. FMR LLC lifted its position in Ryan Specialty by 72.3% during the 3rd quarter. FMR LLC now owns 12,875 shares of the company’s stock valued at $855,000 after acquiring an additional 5,402 shares during the period. Bridgewater Associates LP purchased a new position in shares of Ryan Specialty during the third quarter valued at approximately $1,265,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Ryan Specialty by 0.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 262,166 shares of the company’s stock worth $17,405,000 after purchasing an additional 935 shares in the last quarter. Finally, Walleye Capital LLC grew its stake in shares of Ryan Specialty by 294.6% in the 3rd quarter. Walleye Capital LLC now owns 76,903 shares of the company’s stock worth $5,106,000 after buying an additional 57,413 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Ryan Specialty Stock Performance

Shares of RYAN opened at $72.98 on Friday. The firm has a market capitalization of $19.11 billion, a P/E ratio of 105.77, a PEG ratio of 1.19 and a beta of 0.71. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. Ryan Specialty Holdings, Inc. has a one year low of $48.48 and a one year high of $75.97. The business has a fifty day moving average of $68.74 and a 200 day moving average of $68.28.

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

Ryan Specialty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were given a $0.12 dividend. The ex-dividend date was Tuesday, March 4th. This is an increase from Ryan Specialty’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 0.66%. Ryan Specialty’s dividend payout ratio (DPR) is presently 69.57%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RYAN. Wells Fargo & Company raised their price target on Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, February 21st. Royal Bank of Canada decreased their target price on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. UBS Group increased their price target on shares of Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Morgan Stanley assumed coverage on shares of Ryan Specialty in a report on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price objective for the company. Finally, Keefe, Bruyette & Woods cut their target price on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $75.27.

Insider Transactions at Ryan Specialty

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 29,466 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $65.06, for a total value of $1,917,057.96. Following the completion of the sale, the director now owns 45,409 shares in the company, valued at $2,954,309.54. This represents a 39.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Brendan Martin Mulshine sold 30,000 shares of Ryan Specialty stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $69.30, for a total value of $2,079,000.00. The disclosure for this sale can be found here. Insiders have sold 241,360 shares of company stock worth $16,006,428 in the last 90 days. 11.10% of the stock is currently owned by insiders.

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.