LGT Fund Management Co Ltd. Has $2.90 Million Position in Ryan Specialty Holdings Inc. $RYAN

LGT Fund Management Co Ltd. raised its stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 14.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 42,600 shares of the company’s stock after purchasing an additional 5,335 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Ryan Specialty were worth $2,896,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RYAN. Principal Financial Group Inc. grew its position in shares of 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 buying an additional 1,218,147 shares during the period. Invesco Ltd. lifted its holdings in shares of Ryan Specialty by 121.6% during the 1st quarter. Invesco Ltd. now owns 1,590,862 shares of the company’s stock valued at $117,517,000 after purchasing an additional 872,846 shares in the last quarter. Artemis Investment Management LLP acquired a new position in shares of Ryan Specialty in the 1st quarter valued at approximately $57,023,000. Woodline Partners LP acquired a new position in shares of Ryan Specialty in the 1st quarter valued at approximately $40,278,000. Finally, Westfield Capital Management Co. LP grew its position in shares of Ryan Specialty by 61.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,078,233 shares of the company’s stock valued at $79,649,000 after purchasing an additional 409,649 shares during the period. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RYAN has been the subject of several research analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ryan Specialty in a research report on Saturday, September 27th. Barclays decreased their price objective on Ryan Specialty from $83.00 to $79.00 and set an “overweight” rating for the company in a research report on Monday, July 7th. UBS Group decreased their price objective on Ryan Specialty from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, August 4th. Morgan Stanley decreased their price objective on Ryan Specialty from $71.00 to $68.00 and set an “overweight” rating for the company in a research report on Monday, August 18th. Finally, Cantor Fitzgerald upgraded Ryan Specialty to a “hold” rating in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.92.

Ryan Specialty Trading Up 3.5%

NYSE:RYAN opened at $57.84 on Friday. Ryan Specialty Holdings Inc. has a twelve month low of $50.08 and a twelve month high of $77.16. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.88. The business has a 50 day moving average price of $56.67 and a two-hundred day moving average price of $64.53. The company has a market cap of $15.25 billion, a P/E ratio of 165.26, a price-to-earnings-growth ratio of 1.55 and a beta of 0.63.

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

Ryan Specialty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, August 12th. Ryan Specialty’s dividend payout ratio is presently 137.14%.

Insider Activity at Ryan Specialty

In related news, Chairman Patrick G. Ryan acquired 276,634 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was bought at an average price of $51.84 per share, with a total value of $14,340,706.56. Following the acquisition, the chairman owned 13,699,959 shares in the company, valued at $710,205,874.56. This represents a 2.06% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 52.21% of the company’s stock.

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.