Legal & General Group Plc Acquires 13,649 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Legal & General Group Plc grew its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 159,387 shares of the company's stock after acquiring an additional 13,649 shares during the period. Legal & General Group Plc owned 0.06% of Ryan Specialty worth $10,226,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC increased its holdings in Ryan Specialty by 1.1% during the 3rd quarter. Barclays PLC now owns 1,641,743 shares of the company's stock worth $108,994,000 after acquiring an additional 17,267 shares during the period. Virtu Financial LLC purchased a new position in shares of Ryan Specialty during the 3rd quarter valued at $263,000. Sanctuary Advisors LLC increased its holdings in shares of Ryan Specialty by 11.9% in the third quarter. Sanctuary Advisors LLC now owns 15,502 shares of the company's stock worth $1,140,000 after purchasing an additional 1,651 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Ryan Specialty in the third quarter worth $193,000. Finally, Tidal Investments LLC boosted its stake in Ryan Specialty by 30.4% during the third quarter. Tidal Investments LLC now owns 12,255 shares of the company's stock valued at $814,000 after buying an additional 2,858 shares during the period. Hedge funds and other institutional investors own 84.82% of the company's stock.

Ryan Specialty Trading Up 1.8 %

Ryan Specialty stock traded up $1.24 during mid-day trading on Wednesday, hitting $71.31. The company's stock had a trading volume of 101,322 shares, compared to its average volume of 997,324. The business has a 50 day moving average price of $70.50 and a 200-day moving average price of $69.00. Ryan Specialty Holdings, Inc. has a 12 month low of $48.48 and a 12 month high of $77.16. The stock has a market cap of $18.68 billion, a price-to-earnings ratio of 103.35, a price-to-earnings-growth 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 (NYSE:RYAN - Get Free Report) last released 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). Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The company had revenue of $663.53 million during the quarter, compared to the consensus estimate of $658.80 million. As a group, analysts forecast that Ryan Specialty Holdings, Inc. will post 2.29 EPS for the current 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 paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Tuesday, March 4th. This is a positive change from Ryan Specialty's previous quarterly dividend of $0.11. Ryan Specialty's dividend payout ratio is 69.57%.

Analyst Ratings Changes

Several research firms recently commented on RYAN. TD Cowen initiated coverage on Ryan Specialty in a research report on Thursday, April 10th. They set a "buy" rating and a $89.00 target price for the company. UBS Group raised their target price on shares of Ryan Specialty from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Keefe, Bruyette & Woods dropped their target price on shares of Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Barclays cut their price target on shares of Ryan Specialty from $88.00 to $83.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Finally, Royal Bank of Canada lowered their price objective on shares of Ryan Specialty from $73.00 to $72.00 and set a "sector perform" rating on the stock in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $75.67.

Insider Buying and Selling

In related news, Director Nicholas Dominic Cortezi sold 10,485 shares of the firm's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $65.12, for a total value of $682,783.20. Following the sale, the director now directly owns 11,109 shares of the company's stock, valued at $723,418.08. This trade represents a 48.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Brendan Martin Mulshine sold 30,000 shares of the 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. Insiders have sold a total of 106,894 shares of company stock valued at $7,107,220 over the last three months. 11.10% of the stock is owned by company insiders.

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.