Ethic Inc. Increases Stake in Ryan Specialty Holdings Inc. $RYAN

Ethic Inc. lifted its stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 58.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,683 shares of the company’s stock after acquiring an additional 2,819 shares during the period. Ethic Inc.’s holdings in Ryan Specialty were worth $519,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Crossmark Global Holdings Inc. grew its position in shares of Ryan Specialty by 2.9% during the first quarter. Crossmark Global Holdings Inc. now owns 7,351 shares of the company’s stock worth $543,000 after buying an additional 207 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Ryan Specialty by 281.6% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company’s stock valued at $25,000 after acquiring an additional 245 shares during the period. Wallace Advisory Group LLC boosted its holdings in shares of Ryan Specialty by 5.8% during the second quarter. Wallace Advisory Group LLC now owns 4,837 shares of the company’s stock valued at $357,000 after acquiring an additional 267 shares during the period. State of Michigan Retirement System boosted its holdings in shares of Ryan Specialty by 1.2% during the first quarter. State of Michigan Retirement System now owns 25,500 shares of the company’s stock valued at $1,884,000 after acquiring an additional 300 shares during the period. Finally, Louisiana State Employees Retirement System lifted its holdings in Ryan Specialty by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 29,800 shares of the company’s stock worth $2,201,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Ryan Specialty Trading Down 2.9%

NYSE:RYAN opened at $51.99 on Wednesday. Ryan Specialty Holdings Inc. has a fifty-two week low of $50.08 and a fifty-two week high of $77.16. The company has a debt-to-equity ratio of 2.88, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $13.71 billion, a PE ratio of 148.56, a price-to-earnings-growth ratio of 1.47 and a beta of 0.63. The business’s 50-day simple moving average is $54.94 and its 200-day simple moving average is $62.39.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Thursday, July 31st. The company reported $0.66 EPS for the quarter, meeting the consensus estimate of $0.66. The firm had revenue of $855.17 million for the quarter, compared to analysts’ expectations of $837.52 million. Ryan Specialty had a return on equity of 48.70% and a net margin of 6.81%.The business’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 EPS. Sell-side analysts expect that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, August 12th. Ryan Specialty’s dividend payout ratio is presently 137.14%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on RYAN shares. Barclays reaffirmed an “overweight” rating and issued a $70.00 price objective on shares of Ryan Specialty in a report on Wednesday, October 8th. Wolfe Research upgraded Ryan Specialty to a “strong-buy” rating in a report on Tuesday, September 16th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ryan Specialty in a research note on Wednesday, October 8th. Morgan Stanley lowered their price target on Ryan Specialty from $68.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Finally, Wells Fargo & Company upped their target price on Ryan Specialty from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.08.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, Chairman Patrick G. Ryan acquired 276,634 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was acquired at an average cost of $51.84 per share, for a total transaction of $14,340,706.56. Following the transaction, the chairman directly owned 13,699,959 shares in the company, valued at $710,205,874.56. This represents a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 52.21% of the stock is currently owned by corporate 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.