Artisan Partners Limited Partnership Buys 184,390 Shares of Ryan Specialty Holdings Inc. $RYAN

Artisan Partners Limited Partnership raised its stake in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 19.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,139,836 shares of the company’s stock after buying an additional 184,390 shares during the period. Artisan Partners Limited Partnership owned about 0.43% of Ryan Specialty worth $64,241,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Ameritas Investment Partners Inc. grew its position in Ryan Specialty by 0.9% in the third quarter. Ameritas Investment Partners Inc. now owns 21,119 shares of the company’s stock worth $1,190,000 after acquiring an additional 185 shares in the last quarter. MAI Capital Management boosted its holdings in shares of Ryan Specialty by 65.3% in the 2nd quarter. MAI Capital Management now owns 476 shares of the company’s stock worth $32,000 after purchasing an additional 188 shares in the last quarter. Baker Tilly Wealth Management LLC boosted its holdings in shares of Ryan Specialty by 5.6% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 3,595 shares of the company’s stock worth $203,000 after purchasing an additional 192 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Ryan Specialty by 5.2% during the 2nd quarter. ProShare Advisors LLC now owns 4,772 shares of the company’s stock valued at $324,000 after purchasing an additional 238 shares during the last quarter. Finally, Securian Asset Management Inc. raised its holdings in shares of Ryan Specialty by 2.9% during the 3rd quarter. Securian Asset Management Inc. now owns 8,438 shares of the company’s stock valued at $476,000 after buying an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Ryan Specialty Price Performance

RYAN stock opened at $39.30 on Friday. The stock has a market capitalization of $10.38 billion, a price-to-earnings ratio of 93.56, a PEG ratio of 1.02 and a beta of 0.62. The firm’s 50-day moving average price is $47.38 and its two-hundred day moving average price is $52.67. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 2.62. Ryan Specialty Holdings Inc. has a 12-month low of $37.29 and a 12-month high of $77.16.

Ryan Specialty (NYSE:RYAN) last posted its earnings results on Thursday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.05). The business had revenue of $751.21 million during the quarter, compared to the consensus estimate of $777.43 million. Ryan Specialty had a return on equity of 46.41% and a net margin of 7.02%.The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 earnings per share. As a group, equities analysts predict that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be issued a dividend of $0.13 per share. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Tuesday, February 24th. Ryan Specialty’s dividend payout ratio is currently 123.81%.

Analyst Ratings Changes

RYAN has been the topic of a number of recent research reports. Barclays reduced their price target on shares of Ryan Specialty from $58.00 to $52.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Weiss Ratings cut shares of Ryan Specialty from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, February 5th. Jefferies Financial Group assumed coverage on shares of Ryan Specialty in a research report on Monday, December 1st. They set a “hold” rating and a $64.00 price target for the company. Morgan Stanley decreased their price objective on Ryan Specialty from $61.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday, February 23rd. Finally, Mizuho dropped their target price on Ryan Specialty from $53.00 to $44.00 and set a “neutral” rating for the company in a report on Friday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $56.87.

Insiders Place Their Bets

In related news, Director Patrick G. Ryan, Jr. purchased 25,500 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were acquired at an average price of $39.96 per share, for a total transaction of $1,018,980.00. Following the completion of the acquisition, the director directly owned 428,295 shares in the company, valued at approximately $17,114,668.20. The trade was a 6.33% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy William Turner sold 129,570 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $53.61, for a total transaction of $6,946,247.70. Following the transaction, the chief executive officer directly owned 12,553 shares in the company, valued at approximately $672,966.33. The trade was a 91.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 52.21% of the company’s stock.

About Ryan Specialty

Ryan Specialty Group, Inc (NYSE: RYAN) is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients’ unique needs.

Ryan Specialty’s core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.