CIBC Private Wealth Group LLC Buys 774,718 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

CIBC Private Wealth Group LLC increased its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 6,911.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 785,928 shares of the company’s stock after purchasing an additional 774,718 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Ryan Specialty were worth $48,036,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Ryan Specialty by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 9,880,504 shares of the company’s stock worth $633,933,000 after purchasing an additional 529,631 shares during the last quarter. State Street Corp lifted its stake in shares of Ryan Specialty by 1.5% during the 3rd quarter. State Street Corp now owns 3,273,093 shares of the company’s stock worth $217,301,000 after acquiring an additional 49,198 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Ryan Specialty by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 3,148,916 shares of the company’s stock valued at $209,058,000 after acquiring an additional 13,986 shares during the period. Blair William & Co. IL grew its position in Ryan Specialty by 0.6% in the 4th quarter. Blair William & Co. IL now owns 2,765,963 shares of the company’s stock valued at $177,464,000 after acquiring an additional 16,540 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Ryan Specialty by 115.2% in the fourth quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company’s stock worth $117,619,000 after purchasing an additional 981,505 shares during the period. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RYAN. Wells Fargo & Company boosted their target price on shares of Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Friday, February 21st. Keefe, Bruyette & Woods lowered 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 report on Friday, February 21st. Morgan Stanley initiated coverage on shares of Ryan Specialty in a research report on Thursday, December 5th. They set an “overweight” rating and a $90.00 target price on the stock. UBS Group boosted their price target on Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Finally, Royal Bank of Canada reduced their price objective on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $75.27.

Ryan Specialty Trading Up 0.2 %

Shares of NYSE:RYAN opened at $72.98 on Monday. 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 company has a market capitalization of $19.11 billion, a PE ratio of 105.77, a P/E/G ratio of 1.19 and a beta of 0.71. Ryan Specialty Holdings, Inc. has a 12-month low of $48.48 and a 12-month high of $75.97. The business’s fifty day simple moving average is $68.74 and its 200-day simple moving average is $68.32.

Ryan Specialty (NYSE:RYAN) last posted its earnings results on Thursday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.02). The company had revenue of $663.53 million during the quarter, compared to analysts’ expectations of $658.80 million. Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. As a group, equities research analysts predict that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were given a dividend of $0.12 per share. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.48 dividend on an annualized basis and a yield of 0.66%. Ryan Specialty’s dividend payout ratio is presently 69.57%.

Insiders Place Their Bets

In other Ryan Specialty news, EVP Brendan Martin Mulshine sold 30,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $69.30, for a total value of $2,079,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nicholas Dominic Cortezi sold 29,466 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $65.06, for a total transaction of $1,917,057.96. Following the transaction, the director now owns 45,409 shares in the company, valued at approximately $2,954,309.54. This trade represents a 39.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 241,360 shares of company stock valued at $16,006,428. 11.10% of the stock is currently owned by insiders.

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.