Headlands Technologies LLC Buys New Shares in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Headlands Technologies LLC purchased a new position in Ryan Specialty Holdings, Inc. (NYSE:RYAN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,874 shares of the company’s stock, valued at approximately $224,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Torray Investment Partners LLC boosted its position in shares of Ryan Specialty by 9.3% during the 2nd quarter. Torray Investment Partners LLC now owns 39,599 shares of the company’s stock worth $2,293,000 after purchasing an additional 3,374 shares in the last quarter. Blue Barn Wealth LLC acquired a new position in Ryan Specialty during the 2nd quarter worth approximately $207,000. Arizona State Retirement System boosted its holdings in Ryan Specialty by 2.2% in the second quarter. Arizona State Retirement System now owns 28,246 shares of the company’s stock worth $1,636,000 after acquiring an additional 611 shares in the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in Ryan Specialty in the second quarter valued at approximately $1,233,000. Finally, Rhumbline Advisers increased its holdings in shares of Ryan Specialty by 153.9% during the second quarter. Rhumbline Advisers now owns 283,952 shares of the company’s stock valued at $16,444,000 after acquiring an additional 172,101 shares in the last quarter. 84.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on RYAN shares. Citigroup increased their target price on Ryan Specialty from $56.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. UBS Group lifted their price objective on shares of Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Wells Fargo & Company boosted their target price on shares of Ryan Specialty from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Bank of America initiated coverage on shares of Ryan Specialty in a research report on Wednesday, May 22nd. They issued a “buy” rating and a $67.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Ryan Specialty currently has a consensus rating of “Hold” and an average target price of $63.40.

Ryan Specialty Price Performance

Ryan Specialty stock opened at $64.08 on Friday. Ryan Specialty Holdings, Inc. has a 52 week low of $41.49 and a 52 week high of $69.03. The company’s 50 day moving average price is $62.38 and its two-hundred day moving average price is $56.81. The stock has a market cap of $16.75 billion, a P/E ratio of 120.91, a P/E/G ratio of 1.48 and a beta of 0.62. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.81.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The business had revenue of $695.40 million for the quarter, compared to analyst estimates of $695.56 million. Ryan Specialty had a return on equity of 48.08% and a net margin of 10.21%. Ryan Specialty’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period last year, the company posted $0.45 earnings per share. On average, equities analysts predict that Ryan Specialty Holdings, Inc. will post 1.81 earnings per share for the current year.

Ryan Specialty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a dividend of $0.11 per share. The ex-dividend date was Tuesday, August 13th. This represents a $0.44 dividend on an annualized basis and a yield of 0.69%. Ryan Specialty’s dividend payout ratio (DPR) is presently 83.02%.

Insiders Place Their Bets

In other news, Director Nicholas Dominic Cortezi sold 1,500 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.02, for a total transaction of $97,530.00. Following the completion of the transaction, the director now directly owns 25,123 shares of the company’s stock, valued at approximately $1,633,497.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Nicholas Dominic Cortezi sold 1,500 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $65.02, for a total transaction of $97,530.00. Following the transaction, the director now owns 25,123 shares of the company’s stock, valued at approximately $1,633,497.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Timothy William Turner sold 2,000,000 shares of Ryan Specialty stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $62.45, for a total value of $124,900,000.00. Following the completion of the sale, the president now directly owns 8,095 shares of the company’s stock, valued at approximately $505,532.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,107,136 shares of company stock valued at $131,860,032. Company insiders own 11.10% of the company’s stock.

Ryan Specialty Company 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.