Millennium Management LLC Increases Stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Millennium Management LLC boosted its holdings in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 1,111.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,174,086 shares of the company’s stock after buying an additional 1,077,169 shares during the period. Millennium Management LLC’s holdings in Ryan Specialty were worth $75,329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RYAN. Mariner LLC grew its position in shares of Ryan Specialty by 3.4% during the fourth quarter. Mariner LLC now owns 5,278 shares of the company’s stock worth $339,000 after buying an additional 172 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in Ryan Specialty by 1.2% during the 4th quarter. Sanctuary Advisors LLC now owns 15,690 shares of the company’s stock worth $1,045,000 after acquiring an additional 188 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Ryan Specialty by 1.6% in the 4th quarter. State of Alaska Department of Revenue now owns 12,130 shares of the company’s stock valued at $778,000 after purchasing an additional 190 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Ryan Specialty by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 3,674 shares of the company’s stock valued at $236,000 after purchasing an additional 196 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Ryan Specialty by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 44,990 shares of the company’s stock valued at $2,887,000 after purchasing an additional 280 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wells Fargo & Company dropped their target price on Ryan Specialty from $69.00 to $66.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Keefe, Bruyette & Woods dropped their price objective on Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. The Goldman Sachs Group upgraded Ryan Specialty from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $74.00 to $81.00 in a research note on Tuesday. Royal Bank of Canada dropped their price target on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a research note on Friday, February 21st. Finally, TD Cowen started coverage on shares of Ryan Specialty in a report on Thursday, April 10th. They set a “buy” rating and a $89.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $76.42.

Ryan Specialty Price Performance

RYAN stock opened at $69.89 on Friday. 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 $18.34 billion, a P/E ratio of 101.29, a PEG ratio of 1.19 and a beta of 0.68. The business has a 50 day simple moving average of $70.12 and a 200-day simple moving average of $68.72. Ryan Specialty Holdings, Inc. has a twelve month low of $52.34 and a twelve month high of $77.16.

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

Ryan Specialty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.48 annualized dividend and a dividend yield of 0.69%. Ryan Specialty’s dividend payout ratio (DPR) is 141.18%.

Insider Buying and Selling

In other Ryan Specialty news, EVP Brendan Martin Mulshine sold 30,000 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 11.10% of the company’s stock.

Ryan Specialty 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.