Comerica Bank Acquires 177,517 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Comerica Bank lifted its holdings in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 562.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 209,079 shares of the company’s stock after acquiring an additional 177,517 shares during the quarter. Comerica Bank’s holdings in Ryan Specialty were worth $13,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Kapitalo Investimentos Ltda purchased a new stake in shares of Ryan Specialty during the 4th quarter valued at about $36,000. Schonfeld Strategic Advisors LLC boosted its holdings in Ryan Specialty by 468.3% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 122,767 shares of the company’s stock worth $7,877,000 after purchasing an additional 101,164 shares during the last quarter. Northern Trust Corp grew its position in Ryan Specialty by 20.5% in the 4th quarter. Northern Trust Corp now owns 891,112 shares of the company’s stock worth $57,174,000 after purchasing an additional 151,391 shares during the period. The Manufacturers Life Insurance Company raised its stake in Ryan Specialty by 2.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 85,528 shares of the company’s stock valued at $5,487,000 after buying an additional 2,119 shares during the last quarter. Finally, Aquatic Capital Management LLC lifted its holdings in shares of Ryan Specialty by 7,434.4% during the 4th quarter. Aquatic Capital Management LLC now owns 45,357 shares of the company’s stock valued at $2,910,000 after buying an additional 44,755 shares during the period. 84.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on RYAN shares. TD Cowen assumed coverage on Ryan Specialty in a research report on Thursday, April 10th. They set a “buy” rating and a $89.00 price objective for the company. Wells Fargo & Company lowered their price objective on shares of Ryan Specialty from $69.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 10th. Barclays dropped their price target on shares of Ryan Specialty from $88.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Keefe, Bruyette & Woods reduced their price objective on Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, Royal Bank of Canada lowered their target price on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $75.67.

Ryan Specialty Stock Performance

RYAN opened at $67.02 on Friday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $17.55 billion, a price-to-earnings ratio of 97.13, a PEG ratio of 1.19 and a beta of 0.66. The company has a fifty day moving average of $70.17 and a 200 day moving average of $68.74. Ryan Specialty Holdings, Inc. has a fifty-two week low of $48.85 and a fifty-two week high of $77.16.

Ryan Specialty (NYSE:RYAN) last posted its earnings results on Thursday, May 1st. The company reported $0.39 EPS for the quarter, hitting analysts’ consensus estimates of $0.39. The company had revenue of $690.17 million for the quarter, compared to the consensus estimate of $680.80 million. Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 earnings per share. As a group, sell-side analysts forecast that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Tuesday, May 13th. Ryan Specialty’s dividend payout ratio (DPR) is presently 69.57%.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, EVP Brendan Martin Mulshine sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $69.30, for a total transaction of $2,079,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 11.10% of the stock is owned by company 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.