Cerity Partners LLC Buys 3,755 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Cerity Partners LLC grew its holdings in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 93.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,755 shares of the company's stock after purchasing an additional 3,755 shares during the period. Cerity Partners LLC's holdings in Ryan Specialty were worth $498,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Raymond James Financial Inc. acquired a new stake in Ryan Specialty in the fourth quarter valued at approximately $94,484,000. Norges Bank purchased a new stake in shares of Ryan Specialty during the 4th quarter worth $78,358,000. Principal Financial Group Inc. boosted its position in shares of Ryan Specialty by 115.2% during the 4th quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company's stock worth $117,619,000 after acquiring an additional 981,505 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Ryan Specialty by 6,911.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 785,928 shares of the company's stock worth $48,036,000 after acquiring an additional 774,718 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Ryan Specialty by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 9,880,504 shares of the company's stock valued at $633,933,000 after buying an additional 529,631 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company's stock.

Ryan Specialty Stock Up 0.3 %

NYSE RYAN traded up $0.18 during trading hours on Thursday, hitting $69.60. 782,662 shares of the company traded hands, compared to its average volume of 951,380. The stock has a market capitalization of $18.23 billion, a price-to-earnings ratio of 100.87, a P/E/G ratio of 1.19 and a beta of 0.66. The business's 50-day moving average is $70.51 and its 200-day moving average is $69.00. Ryan Specialty Holdings, Inc. has a twelve month low of $48.48 and a twelve month high of $77.16. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01.

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

Ryan Specialty Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were paid a $0.12 dividend. This is a boost from Ryan Specialty's previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, March 4th. This represents a $0.48 annualized dividend and a dividend yield of 0.69%. Ryan Specialty's payout ratio is currently 69.57%.

Insider Buying and Selling

In other Ryan Specialty news, EVP Brendan Martin Mulshine sold 30,000 shares of the business's stock in a transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 31,409 shares of the firm'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 completion of the sale, the director now directly owns 2,697 shares in the company, valued at $177,031.08. This represents a 92.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 96,409 shares of company stock valued at $6,424,437 over the last ninety days. 11.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of Ryan Specialty from $82.00 to $84.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Barclays dropped their target price on Ryan Specialty from $88.00 to $83.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. TD Cowen initiated coverage on Ryan Specialty in a research note on Thursday, April 10th. They set a "buy" rating and a $89.00 price target for the company. Keefe, Bruyette & Woods decreased their price target on Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Finally, Wells Fargo & Company dropped their target price on shares of Ryan Specialty from $69.00 to $66.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $75.67.

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.