Retirement Systems of Alabama Acquires 2,070 Shares of Ryan Specialty Holdings Inc. $RYAN

Retirement Systems of Alabama raised its holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 131,568 shares of the company’s stock after buying an additional 2,070 shares during the quarter. Retirement Systems of Alabama’s holdings in Ryan Specialty were worth $8,945,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. lifted its stake in Ryan Specialty by 281.6% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company’s stock worth $25,000 after acquiring an additional 245 shares during the period. SVB Wealth LLC purchased a new position in Ryan Specialty during the 1st quarter valued at $26,000. Central Pacific Bank Trust Division bought a new position in Ryan Specialty in the 2nd quarter worth $31,000. WPG Advisers LLC purchased a new stake in shares of Ryan Specialty in the 1st quarter worth about $32,000. Finally, Quarry LP boosted its stake in shares of Ryan Specialty by 977.8% during the 1st quarter. Quarry LP now owns 582 shares of the company’s stock valued at $43,000 after purchasing an additional 528 shares in the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Barclays reiterated an “overweight” rating and set a $70.00 price target on shares of Ryan Specialty in a research report on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ryan Specialty in a report on Wednesday, October 8th. The Goldman Sachs Group restated a “buy” rating and issued a $63.00 target price on shares of Ryan Specialty in a research note on Friday. Wells Fargo & Company lifted their price target on Ryan Specialty from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald upgraded Ryan Specialty to a “hold” rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.58.

Insider Transactions at Ryan Specialty

In other news, Chairman Patrick G. Ryan acquired 276,634 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were bought at an average cost of $51.84 per share, with a total value of $14,340,706.56. Following the transaction, the chairman owned 13,699,959 shares of the company’s stock, valued at $710,205,874.56. This trade represents a 2.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 52.21% of the stock is currently owned by insiders.

Ryan Specialty Stock Performance

Shares of RYAN opened at $55.01 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.00 and a debt-to-equity ratio of 2.72. The stock has a market cap of $14.51 billion, a P/E ratio of 119.58, a P/E/G ratio of 1.51 and a beta of 0.62. The business’s 50 day moving average price is $54.51 and its 200-day moving average price is $61.87. Ryan Specialty Holdings Inc. has a 52 week low of $50.08 and a 52 week high of $77.16.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. The company had revenue of $754.58 million during the quarter, compared to analyst estimates of $742.35 million. Ryan Specialty had a return on equity of 47.93% and a net margin of 7.61%.The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. Equities research analysts anticipate that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, November 10th. Ryan Specialty’s payout ratio is currently 104.35%.

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.