Ryan Specialty Holdings, Inc. (NYSE:RYAN) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 16.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 898,865 shares of the company's stock after purchasing an additional 129,354 shares during the period. Bank of New York Mellon Corp owned 0.34% of Ryan Specialty worth $57,671,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of RYAN. Hollencrest Capital Management acquired a new position in Ryan Specialty during the third quarter worth approximately $25,000. Assetmark Inc. purchased a new stake in Ryan Specialty during the third quarter worth approximately $34,000. Principal Securities Inc. grew its stake in Ryan Specialty by 164.7% during the fourth quarter. Principal Securities Inc. now owns 667 shares of the company's stock worth $43,000 after buying an additional 415 shares during the period. Quarry LP grew its stake in Ryan Specialty by 109.3% during 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 period. Finally, Loomis Sayles & Co. L P grew its stake in Ryan Specialty by 26.3% during the third 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. Institutional investors and hedge funds own 84.82% of the company's stock.

Ryan Specialty Stock Performance

Shares of NYSE:RYAN traded up $0.09 on Friday, reaching $69.31. 763,446 shares of the company's stock were exchanged, compared to its average volume of 988,549. The firm has a market capitalization of $18.15 billion, a price-to-earnings ratio of 100.45, a PEG ratio of 1.19 and a beta of 0.71. Ryan Specialty Holdings, Inc. has a fifty-two week low of $48.48 and a fifty-two week high of $75.97. The business's 50-day moving average is $66.46 and its two-hundred day moving average is $67.54. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40.

Remove Ads

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued 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 business had revenue of $663.53 million for the quarter, compared to analyst estimates 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 forecast that Ryan Specialty Holdings, Inc. will post 2.29 EPS for the current year.

Ryan Specialty Increases Dividend

The firm also recently announced 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 dividend yield of 0.69%. This is a boost from Ryan Specialty's previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, March 4th. Ryan Specialty's dividend payout ratio is 69.57%.

Insiders Place Their Bets

In related news, Director Nicholas Dominic Cortezi sold 35,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $67.39, for a total value of $2,358,650.00. Following the sale, the director now owns 65,100 shares of the company's stock, valued at $4,387,089. This trade represents a 34.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 316,451 shares of company stock valued at $20,907,793. Company insiders own 11.10% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on RYAN. Keefe, Bruyette & Woods decreased their price objective on shares of Ryan Specialty from $77.00 to $76.00 and set an "outperform" rating for the company in a research note on Friday, February 21st. Wells Fargo & Company boosted their price objective on shares of Ryan Specialty from $64.00 to $69.00 and gave the stock an "equal weight" rating in a research note on Friday, February 21st. Barclays boosted their price objective on shares of Ryan Specialty from $76.00 to $88.00 and gave the stock an "overweight" rating in a research note on Thursday, November 21st. Royal Bank of Canada decreased their price objective on shares of Ryan Specialty from $73.00 to $72.00 and set a "sector perform" rating for the company in a research note on Friday, February 21st. Finally, Morgan Stanley assumed coverage on shares of Ryan Specialty in a research note on Thursday, December 5th. They set an "overweight" rating and a $90.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $75.27.

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.