Flaharty Asset Management LLC Makes New Investment in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Flaharty Asset Management LLC bought a new stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,000 shares of the company's stock, valued at approximately $321,000.

Several other hedge funds also recently bought and sold shares of the company. Hollencrest Capital Management bought a new position in shares of Ryan Specialty in the 3rd quarter valued at approximately $25,000. Assetmark Inc. acquired a new position in Ryan Specialty during the third quarter valued at approximately $34,000. Principal Securities Inc. raised its position in shares of Ryan Specialty by 164.7% in the fourth 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 lifted its stake in shares of Ryan Specialty by 109.3% in the third quarter. Quarry LP now owns 808 shares of the company's stock worth $54,000 after buying an additional 422 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its holdings in shares of Ryan Specialty by 26.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,373 shares of the company's stock worth $91,000 after buying an additional 286 shares during the period. 84.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on RYAN. Barclays lifted their target price on shares of Ryan Specialty from $76.00 to $88.00 and gave the stock an "overweight" rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods cut their price objective on Ryan Specialty from $77.00 to $76.00 and set an "outperform" rating for the company in a research report on Friday, February 21st. Morgan Stanley assumed coverage on Ryan Specialty in a report on Thursday, December 5th. They issued an "overweight" rating and a $90.00 target price on the stock. UBS Group upped their price target on Ryan Specialty from $82.00 to $84.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Finally, Wells Fargo & Company increased their price objective on Ryan Specialty from $64.00 to $69.00 and gave the company an "equal weight" rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Ryan Specialty currently has an average rating of "Hold" and a consensus target price of $75.27.

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Insider Activity

In other news, Director Nicholas Dominic Cortezi sold 35,000 shares of the business's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $66.71, for a total value of $2,334,850.00. Following the sale, the director now owns 60,200 shares in the company, valued at approximately $4,015,942. The trade was a 36.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 316,451 shares of company stock worth $20,907,793. Company insiders own 11.10% of the company's stock.

Ryan Specialty Stock Performance

RYAN stock traded up $0.79 during midday trading on Wednesday, hitting $70.77. The stock had a trading volume of 768,515 shares, compared to its average volume of 996,386. Ryan Specialty Holdings, Inc. has a 52 week low of $48.48 and a 52 week high of $75.97. 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 stock has a 50-day simple moving average of $66.24 and a 200 day simple moving average of $67.50. The firm has a market capitalization of $18.53 billion, a price-to-earnings ratio of 102.56, a P/E/G ratio of 1.19 and a beta of 0.72.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.02). The business 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%. As a group, equities research analysts anticipate that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.68%. This is an increase from Ryan Specialty's previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, March 4th. 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.