Pier 88 Investment Partners LLC Takes Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Pier 88 Investment Partners LLC acquired a new position in Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 14,760 shares of the company's stock, valued at approximately $947,000.

A number of other institutional investors have also recently bought and sold shares of RYAN. FMR LLC boosted its stake in shares of Ryan Specialty by 72.3% during the 3rd quarter. FMR LLC now owns 12,875 shares of the company's stock valued at $855,000 after buying an additional 5,402 shares during the period. Bridgewater Associates LP purchased a new stake in shares of Ryan Specialty during the third quarter worth $1,265,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Ryan Specialty by 0.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 262,166 shares of the company's stock valued at $17,405,000 after purchasing an additional 935 shares during the last quarter. Walleye Capital LLC grew its stake in Ryan Specialty by 294.6% in the third quarter. Walleye Capital LLC now owns 76,903 shares of the company's stock valued at $5,106,000 after purchasing an additional 57,413 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in Ryan Specialty by 9.3% in the 3rd quarter. Captrust Financial Advisors now owns 9,405 shares of the company's stock worth $624,000 after purchasing an additional 798 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 35,000 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $65.99, for a total value of $2,309,650.00. Following the completion of the transaction, the director now owns 35,609 shares of the company's stock, valued at $2,349,837.91. This represents a 49.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 value of $2,079,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 241,360 shares of company stock valued at $16,006,428. Insiders own 11.10% of the company's stock.

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Analysts Set New Price Targets

Several brokerages have recently issued reports on RYAN. Royal Bank of Canada reduced their price target on Ryan Specialty from $73.00 to $72.00 and set a "sector perform" rating for the company in a report on Friday, February 21st. UBS Group boosted their target price on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Wells Fargo & Company increased their price target on shares of Ryan Specialty from $64.00 to $69.00 and gave the stock an "equal weight" rating in a research note on Friday, February 21st. Morgan Stanley began coverage on shares of Ryan Specialty in a research note on Thursday, December 5th. They issued an "overweight" rating and a $90.00 price objective for the company. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Ryan Specialty from $77.00 to $76.00 and set an "outperform" rating on the stock in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $75.27.

Ryan Specialty Stock Performance

NYSE:RYAN traded up $1.33 during mid-day trading on Wednesday, hitting $75.14. 1,360,986 shares of the company's stock traded hands, compared to its average volume of 932,904. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. The firm has a 50 day moving average of $69.03 and a two-hundred day moving average of $68.46. The firm has a market capitalization of $19.68 billion, a price-to-earnings ratio of 108.90, a price-to-earnings-growth ratio of 1.19 and a beta of 0.71. Ryan Specialty Holdings, Inc. has a 12 month low of $48.48 and a 12 month high of $78.67.

Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $663.53 million during the quarter, compared to analyst estimates of $658.80 million. Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. On average, equities analysts forecast that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.12 per share. This is an increase from Ryan Specialty's previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.48 annualized dividend and a dividend yield of 0.64%. Ryan Specialty's payout ratio is presently 69.57%.

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.