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

Cerity Partners LLC grew its holdings in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 93.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,755 shares of the company’s stock after buying an additional 3,755 shares during the quarter. Cerity Partners LLC’s holdings in Ryan Specialty were worth $498,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in 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 purchasing an additional 529,631 shares during the period. Blair William & Co. IL raised its holdings in Ryan Specialty by 0.6% during the 4th quarter. Blair William & Co. IL now owns 2,765,963 shares of the company’s stock valued at $177,464,000 after buying an additional 16,540 shares during the period. Principal Financial Group Inc. lifted its position in 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 during the last quarter. Geode Capital Management LLC boosted its stake in Ryan Specialty by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 1,799,130 shares of the company’s stock worth $115,468,000 after buying an additional 46,960 shares during the period. Finally, Barclays PLC increased its position in Ryan Specialty by 1.1% during the third quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock valued at $108,994,000 after acquiring an additional 17,267 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.

Ryan Specialty Stock Performance

Shares of NYSE:RYAN opened at $67.57 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $17.70 billion, a price-to-earnings ratio of 97.93, a price-to-earnings-growth ratio of 1.19 and a beta of 0.66. The firm has a 50 day moving average of $70.47 and a 200 day moving average of $68.99. Ryan Specialty Holdings, Inc. has a 52 week low of $48.48 and a 52 week high of $77.16.

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

Ryan Specialty Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were issued 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 yield of 0.71%. The ex-dividend date of this dividend was Tuesday, March 4th. Ryan Specialty’s payout ratio is currently 69.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Keefe, Bruyette & Woods dropped their price target 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 boosted their target price on Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Royal Bank of Canada decreased their price target on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. Barclays dropped their price objective on Ryan Specialty from $88.00 to $83.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Finally, TD Cowen started coverage on Ryan Specialty in a research report on Thursday, April 10th. They set a “buy” rating and a $89.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $75.67.

Insider Transactions at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 10,485 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $65.12, for a total value of $682,783.20. Following the completion of the transaction, the director now directly owns 11,109 shares of the company’s stock, valued at $723,418.08. This trade represents a 48.56 % decrease in their position. The sale was disclosed in a document filed 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 that occurred on Friday, March 14th. The stock was sold at an average price of $69.30, for a total transaction of $2,079,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,894 shares of company stock valued at $7,107,220. Corporate insiders own 11.10% of the company’s stock.

Ryan Specialty Company 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.