Ascent Group LLC Purchases Shares of 3,750 Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Ascent Group LLC bought a new stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,750 shares of the company’s stock, valued at approximately $217,000.

A number of other hedge funds also recently bought and sold shares of RYAN. GAMMA Investing LLC raised its position in shares of Ryan Specialty by 96.4% during the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock valued at $35,000 after buying an additional 297 shares in the last quarter. Arizona State Retirement System raised its holdings in Ryan Specialty by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 28,246 shares of the company’s stock valued at $1,636,000 after buying an additional 611 shares during the period. Precision Wealth Strategies LLC lifted its position in Ryan Specialty by 4.1% in the first quarter. Precision Wealth Strategies LLC now owns 15,774 shares of the company’s stock worth $875,000 after buying an additional 617 shares during the last quarter. Anderson Hoagland & Co. boosted its stake in Ryan Specialty by 1.2% during the second quarter. Anderson Hoagland & Co. now owns 51,615 shares of the company’s stock worth $2,909,000 after buying an additional 624 shares during the period. Finally, Crewe Advisors LLC bought a new position in Ryan Specialty during the second quarter valued at $39,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Ryan Specialty Stock Up 2.7 %

NYSE:RYAN opened at $68.20 on Wednesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $17.83 billion, a PE ratio of 128.68, a price-to-earnings-growth ratio of 1.56 and a beta of 0.62. The company has a 50-day moving average of $64.21 and a 200 day moving average of $57.86. Ryan Specialty Holdings, Inc. has a 1-year low of $41.49 and a 1-year high of $69.14.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. The firm had revenue of $695.40 million for the quarter, compared to the consensus estimate of $695.56 million. Ryan Specialty had a net margin of 10.21% and a return on equity of 48.08%. The company’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period last year, the firm earned $0.45 earnings per share. As a group, research analysts anticipate that Ryan Specialty Holdings, Inc. will post 1.81 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were issued a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.65%. Ryan Specialty’s dividend payout ratio is presently 83.02%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. BMO Capital Markets raised Ryan Specialty from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $65.00 to $75.00 in a research note on Tuesday, September 24th. Wells Fargo & Company upped their price objective on Ryan Specialty from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Citigroup lifted their target price on Ryan Specialty from $56.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Barclays began coverage on shares of Ryan Specialty in a report on Wednesday, September 4th. They issued an “overweight” rating and a $76.00 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Ryan Specialty currently has a consensus rating of “Hold” and an average price target of $66.78.

Insider Transactions at Ryan Specialty

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 5,375 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $64.73, for a total value of $347,923.75. Following the completion of the transaction, the director now directly owns 2,685 shares in the company, valued at $173,800.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 5,375 shares of Ryan Specialty stock in a transaction on Wednesday, August 28th. The shares were 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Timothy William Turner sold 2,000,000 shares of the company’s stock in a transaction on 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 transaction, the president now directly owns 8,095 shares in the company, valued at $505,532.75. The disclosure for this sale can be found here. In the last three months, insiders sold 2,107,136 shares of company stock valued at $131,860,032. Corporate 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.