Principal Financial Group Inc. Has $56.55 Million Stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Principal Financial Group Inc. boosted its position in Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 148.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 851,704 shares of the company's stock after buying an additional 509,548 shares during the quarter. Principal Financial Group Inc. owned approximately 0.33% of Ryan Specialty worth $56,545,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of RYAN. Xponance Inc. boosted its stake in shares of Ryan Specialty by 67.2% during the 2nd quarter. Xponance Inc. now owns 20,686 shares of the company's stock worth $1,198,000 after buying an additional 8,312 shares during the last quarter. Jennison Associates LLC raised its holdings in Ryan Specialty by 60.2% during the third quarter. Jennison Associates LLC now owns 1,025,063 shares of the company's stock worth $68,054,000 after acquiring an additional 385,366 shares in the last quarter. Geneva Partners LLC acquired a new position in Ryan Specialty during the third quarter valued at approximately $2,537,000. Susquehanna Fundamental Investments LLC grew its stake in Ryan Specialty by 2,354.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 100,614 shares of the company's stock valued at $5,827,000 after purchasing an additional 96,514 shares in the last quarter. Finally, Barclays PLC increased its position in shares of 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 purchasing an additional 17,267 shares during the last quarter. Institutional investors own 84.82% of the company's stock.

Ryan Specialty Stock Performance

Shares of NYSE:RYAN traded down $0.12 during trading on Monday, reaching $63.89. 677,736 shares of the stock were exchanged, compared to its average volume of 877,499. The firm has a market cap of $16.73 billion, a PE ratio of 82.97, a PEG ratio of 1.52 and a beta of 0.67. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. Ryan Specialty Holdings, Inc. has a 12 month low of $41.65 and a 12 month high of $75.97. The stock has a 50-day moving average price of $70.23 and a 200-day moving average price of $64.86.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, meeting analysts' consensus estimates of $0.41. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The firm had revenue of $604.69 million for the quarter, compared to analyst estimates of $602.04 million. During the same period in the prior year, the firm posted $0.32 EPS. The company's revenue for the quarter was up 20.5% on a year-over-year basis. Research analysts expect that Ryan Specialty Holdings, Inc. will post 1.82 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Tuesday, November 12th. Ryan Specialty's dividend payout ratio is currently 57.14%.

Insiders Place Their Bets

In other Ryan Specialty news, EVP Mark Stephen Katz sold 14,790 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the sale, the executive vice president now directly owns 12,386 shares in the company, valued at $884,236.54. This represents a 54.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of the business's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $65.17, for a total transaction of $2,280,950.00. Following the completion of the transaction, the director now owns 50,400 shares of the company's stock, valued at $3,284,568. The trade was a 40.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 126,936 shares of company stock worth $8,536,282 in the last quarter. Corporate insiders own 11.10% of the company's stock.

Analyst Upgrades and Downgrades

RYAN has been the subject of several recent analyst reports. The Goldman Sachs Group increased their price objective on Ryan Specialty from $64.00 to $72.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. BMO Capital Markets upgraded shares of Ryan Specialty from a "market perform" rating to an "outperform" rating and increased their price target for the company from $65.00 to $75.00 in a research note on Tuesday, September 24th. Bank of America boosted their price objective on shares of Ryan Specialty from $75.00 to $84.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Morgan Stanley initiated coverage on shares of Ryan Specialty in a research note on Thursday, December 5th. They issued an "overweight" rating and a $90.00 target price for the company. Finally, Barclays boosted their price target on Ryan Specialty from $76.00 to $88.00 and gave the stock an "overweight" rating in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $73.50.

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.