Ryan Specialty Holdings, Inc. (NYSE:RYAN) Stock Position Raised by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 148.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 851,704 shares of the company's stock after buying an additional 509,548 shares during the period. Principal Financial Group Inc. owned 0.33% of Ryan Specialty worth $56,545,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in RYAN. Geneva Partners LLC acquired a new position in shares of Ryan Specialty in the 3rd quarter worth approximately $2,537,000. Janney Montgomery Scott LLC lifted its stake in Ryan Specialty by 11.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 16,994 shares of the company's stock valued at $1,128,000 after purchasing an additional 1,799 shares during the last quarter. Stephens Inc. AR bought a new position in Ryan Specialty in the 3rd quarter valued at about $289,000. Boston Financial Mangement LLC raised its holdings in Ryan Specialty by 0.5% in the 3rd quarter. Boston Financial Mangement LLC now owns 452,489 shares of the company's stock valued at $30,041,000 after acquiring an additional 2,269 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in shares of Ryan Specialty by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 11,940 shares of the company's stock worth $792,000 after purchasing an additional 805 shares during the period. 84.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of Ryan Specialty stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $65.18, for a total value of $1,709,866.94. Following the transaction, the executive vice president now directly owns 24,845 shares in the company, valued at $1,619,397.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 5,375 shares of the company's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $64.73, for a total value of $347,923.75. Following the transaction, the director now directly owns 2,685 shares of the company's stock, valued at $173,800.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the company's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $65.18, for a total value of $1,709,866.94. Following the sale, the executive vice president now directly owns 24,845 shares in the company, valued at approximately $1,619,397.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 107,136 shares of company stock worth $6,960,032 over the last three months. Company insiders own 11.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RYAN. Wells Fargo & Company raised their price objective on Ryan Specialty from $63.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 10th. Bank of America lifted their price objective on Ryan Specialty from $75.00 to $84.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. UBS Group lifted their price objective on Ryan Specialty from $67.00 to $76.00 and gave the stock a "buy" rating in a research note on Tuesday, August 13th. BMO Capital Markets raised Ryan Specialty from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $65.00 to $75.00 in a research note on Tuesday, September 24th. Finally, Citigroup boosted their price target on Ryan Specialty from $56.00 to $62.00 and gave the company a "neutral" rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $70.33.

Ryan Specialty Price Performance

Shares of NYSE:RYAN traded up $0.38 during midday trading on Monday, reaching $71.77. 512,905 shares of the company were exchanged, compared to its average volume of 880,179. Ryan Specialty Holdings, Inc. has a one year low of $41.49 and a one year high of $73.10. 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 business's fifty day moving average is $67.71 and its two-hundred day moving average is $61.37. The stock has a market cap of $18.79 billion, a PE ratio of 93.21, a price-to-earnings-growth ratio of 1.62 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, hitting the consensus estimate of $0.41. The company had revenue of $604.69 million for the quarter, compared to the consensus estimate of $602.04 million. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The firm's revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 EPS. As a group, analysts predict that Ryan Specialty Holdings, Inc. will post 1.8 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.11 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.44 dividend on an annualized basis and a yield of 0.61%. Ryan Specialty's dividend payout ratio (DPR) is presently 57.14%.

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.