Oak Thistle LLC Buys New Holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN)

Oak Thistle LLC purchased a new position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 4,372 shares of the company’s stock, valued at approximately $323,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Ryan Specialty during the fourth quarter valued at approximately $78,358,000. Principal Financial Group Inc. increased its stake in Ryan Specialty by 66.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,051,356 shares of the company’s stock valued at $225,404,000 after purchasing an additional 1,218,147 shares in the last quarter. Millennium Management LLC raised its holdings in Ryan Specialty by 1,111.4% during the fourth quarter. Millennium Management LLC now owns 1,174,086 shares of the company’s stock worth $75,329,000 after buying an additional 1,077,169 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in Ryan Specialty by 6,911.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 785,928 shares of the company’s stock worth $48,036,000 after buying an additional 774,718 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new position in shares of Ryan Specialty in the first quarter valued at $57,023,000. Institutional investors own 84.82% of the company’s stock.

Insider Activity at Ryan Specialty

In related news, Director David P. Bolger sold 5,000 shares of Ryan Specialty stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $70.80, for a total value of $354,000.00. Following the sale, the director owned 71,467 shares of the company’s stock, valued at approximately $5,059,863.60. The trade was a 6.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Stephen Katz sold 14,377 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $65.84, for a total value of $946,581.68. Following the transaction, the executive vice president directly owned 1,117 shares of the company’s stock, valued at approximately $73,543.28. This trade represents a 92.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 52.21% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on RYAN. TD Cowen initiated coverage on shares of Ryan Specialty in a research report on Thursday, April 10th. They set a “buy” rating and a $89.00 target price for the company. Morgan Stanley decreased their price objective on Ryan Specialty from $80.00 to $78.00 and set an “overweight” rating for the company in a report on Monday, July 14th. The Goldman Sachs Group raised Ryan Specialty from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $74.00 to $81.00 in a research note on Tuesday, May 13th. Keefe, Bruyette & Woods cut their target price on Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Finally, Barclays decreased their price target on Ryan Specialty from $83.00 to $79.00 and set an “overweight” rating for the company in a report on Monday, July 7th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Ryan Specialty currently has a consensus rating of “Moderate Buy” and an average target price of $76.00.

Ryan Specialty Stock Up 2.8%

RYAN stock opened at $66.23 on Friday. The stock has a market cap of $17.38 billion, a P/E ratio of 194.78, a P/E/G ratio of 1.74 and a beta of 0.66. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 3.45. The stock’s fifty day simple moving average is $67.31 and its two-hundred day simple moving average is $68.27. Ryan Specialty Holdings Inc. has a 1-year low of $59.13 and a 1-year high of $77.16.

Ryan Specialty (NYSE:RYAN) last released 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 analysts’ expectations of $680.80 million. Ryan Specialty had a return on equity of 47.70% and a net margin of 6.97%. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 EPS. Analysts expect that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current year.

Ryan Specialty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend was Tuesday, May 13th. Ryan Specialty’s dividend payout ratio is currently 141.18%.

About Ryan Specialty

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.