Norges Bank Purchases Shares of 1,221,287 Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Norges Bank purchased a new position in Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,221,287 shares of the company's stock, valued at approximately $78,358,000. Norges Bank owned about 0.47% of Ryan Specialty as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Rakuten Securities Inc. bought a new position in shares of Ryan Specialty during the fourth quarter valued at approximately $27,000. Principal Securities Inc. increased its position in Ryan Specialty by 164.7% during the 4th quarter. Principal Securities Inc. now owns 667 shares of the company's stock valued at $43,000 after purchasing an additional 415 shares during the period. Quarry LP raised its holdings in Ryan Specialty by 109.3% in the 3rd quarter. Quarry LP now owns 808 shares of the company's stock worth $54,000 after purchasing an additional 422 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Ryan Specialty in the 4th quarter worth about $54,000. Finally, R Squared Ltd bought a new stake in shares of Ryan Specialty during the 4th quarter valued at about $92,000. Hedge funds and other institutional investors own 84.82% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada decreased their price target on shares of 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. UBS Group raised their target price on Ryan Specialty from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Wells Fargo & Company upped their price target on Ryan Specialty from $64.00 to $69.00 and gave the stock an "equal weight" rating in a research note on Friday, February 21st. Finally, Keefe, Bruyette & Woods decreased their price objective on Ryan Specialty from $77.00 to $76.00 and set an "outperform" rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $75.27.

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Insiders Place Their Bets

In other news, EVP Brendan Martin Mulshine sold 30,000 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $69.30, for a total transaction of $2,079,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 31,409 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $65.64, for a total transaction of $2,061,686.76. Following the transaction, the director now directly owns 2,697 shares of the company's stock, valued at $177,031.08. The trade was a 92.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 241,360 shares of company stock valued at $16,006,428. Corporate insiders own 11.10% of the company's stock.

Ryan Specialty Stock Down 2.9 %

Ryan Specialty stock traded down $2.04 during mid-day trading on Monday, reaching $68.47. The stock had a trading volume of 1,917,025 shares, compared to its average volume of 936,052. The company has a market capitalization of $17.93 billion, a price-to-earnings ratio of 99.23, a PEG ratio of 1.19 and a beta of 0.66. 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 $77.16. The company has a 50-day moving average price of $69.67 and a two-hundred day moving average price of $68.72.

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

Ryan Specialty Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.70%. This is an increase from Ryan Specialty's previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, March 4th. Ryan Specialty's dividend payout ratio (DPR) is currently 69.57%.

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.