Ryan Specialty Holdings Inc. $RYAN Shares Acquired by American Century Companies Inc.

American Century Companies Inc. grew its stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 13.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,254,217 shares of the company’s stock after acquiring an additional 144,983 shares during the period. American Century Companies Inc. owned about 0.48% of Ryan Specialty worth $85,274,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of RYAN. SVB Wealth LLC purchased a new stake in shares of Ryan Specialty during the first quarter valued at $26,000. Golden State Wealth Management LLC increased its stake in Ryan Specialty by 10,975.0% in the 2nd quarter. Golden State Wealth Management LLC now owns 443 shares of the company’s stock worth $30,000 after purchasing an additional 439 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in Ryan Specialty during the 2nd quarter worth about $31,000. WPG Advisers LLC purchased a new stake in Ryan Specialty during the first quarter valued at about $32,000. Finally, MAI Capital Management lifted its stake in Ryan Specialty by 65.3% during the second quarter. MAI Capital Management now owns 476 shares of the company’s stock valued at $32,000 after buying an additional 188 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ryan Specialty news, Chairman Patrick G. Ryan bought 276,634 shares of Ryan Specialty stock in a transaction on Friday, September 12th. The stock was purchased at an average cost of $51.84 per share, for a total transaction of $14,340,706.56. Following the completion of the purchase, the chairman directly owned 13,699,959 shares of the company’s stock, valued at $710,205,874.56. The trade was a 2.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 52.21% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. BMO Capital Markets dropped their target price on shares of Ryan Specialty from $70.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Wells Fargo & Company raised their price objective on shares of Ryan Specialty from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods lowered their price objective on shares of Ryan Specialty from $73.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Wolfe Research upgraded Ryan Specialty to a “strong-buy” rating in a report on Tuesday, September 16th. Finally, Citigroup initiated coverage on Ryan Specialty in a research report on Wednesday, August 13th. They issued a “buy” rating and a $74.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.71.

Ryan Specialty Price Performance

RYAN opened at $58.09 on Wednesday. The stock has a fifty day moving average price of $55.20 and a 200 day moving average price of $60.50. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 2.72. Ryan Specialty Holdings Inc. has a 1 year low of $50.08 and a 1 year high of $77.16. The stock has a market cap of $15.33 billion, a price-to-earnings ratio of 126.29, a PEG ratio of 1.59 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last issued its earnings results on Thursday, October 30th. The company reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. The company had revenue of $754.58 million for the quarter, compared to analyst estimates of $742.35 million. Ryan Specialty had a return on equity of 47.93% and a net margin of 7.61%.The business’s revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 EPS. Analysts forecast that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, November 10th. Ryan Specialty’s dividend payout ratio (DPR) is presently 104.35%.

Ryan Specialty 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.