T. Rowe Price Investment Management Inc. Acquires 12,573 Shares of Ryan Specialty Holdings Inc. $RYAN

T. Rowe Price Investment Management Inc. raised its holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 0.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,378,573 shares of the company’s stock after acquiring an additional 12,573 shares during the period. T. Rowe Price Investment Management Inc. owned about 0.91% of Ryan Specialty worth $175,706,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of RYAN. Principal Financial Group Inc. increased its position 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 worth $225,404,000 after purchasing an additional 1,218,147 shares in the last quarter. Millennium Management LLC increased its holdings in shares of 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 in the last quarter. Invesco Ltd. increased its holdings in shares of Ryan Specialty by 121.6% during the first quarter. Invesco Ltd. now owns 1,590,862 shares of the company’s stock worth $117,517,000 after buying an additional 872,846 shares in the last quarter. Artemis Investment Management LLP bought a new position in shares of Ryan Specialty in the 1st quarter valued at $57,023,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Ryan Specialty during the 4th quarter valued at $29,599,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Ryan Specialty Stock Performance

Shares of RYAN stock opened at $59.8020 on Thursday. The stock has a market capitalization of $15.77 billion, a PE ratio of 170.87, a PEG ratio of 1.64 and a beta of 0.64. The business’s 50 day simple moving average is $63.87 and its 200 day simple moving average is $67.58. The company has a debt-to-equity ratio of 2.88, a current ratio of 1.01 and a quick ratio of 1.01. Ryan Specialty Holdings Inc. has a one year low of $55.77 and a one year high of $77.16.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.66 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.66. Ryan Specialty had a net margin of 6.81% and a return on equity of 48.70%. The firm had revenue of $855.17 million during the quarter, compared to analyst estimates of $837.52 million. During the same quarter last year, the business earned $0.58 EPS. The company’s revenue was up 23.0% compared to the same quarter last year. As a group, research analysts forecast that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.48 annualized dividend and a yield of 0.8%. Ryan Specialty’s dividend payout ratio (DPR) is currently 137.14%.

Analysts Set New Price Targets

RYAN has been the subject of a number of recent research reports. Citigroup assumed coverage on Ryan Specialty in a report on Wednesday, August 13th. They issued a “buy” rating and a $74.00 target price for the company. The Goldman Sachs Group raised Ryan Specialty from a “neutral” rating to a “buy” rating and upped their price objective for the company from $74.00 to $81.00 in a research note on Tuesday, May 13th. UBS Group cut their target price on shares of Ryan Specialty from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, August 4th. Wall Street Zen raised shares of Ryan Specialty from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. Finally, Cantor Fitzgerald raised shares of Ryan Specialty to a “hold” rating in a research note on Wednesday, August 13th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Ryan Specialty has a consensus rating of “Moderate Buy” and an average price target of $74.83.

Insider Activity at Ryan Specialty

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