Police & Firemen s Retirement System of New Jersey Increases Stock Holdings in Ryan Specialty Holdings Inc. $RYAN

Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 7.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,806 shares of the company’s stock after buying an additional 2,649 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Ryan Specialty were worth $2,706,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Hsbc Holdings PLC boosted its stake in Ryan Specialty by 14.4% in the first quarter. Hsbc Holdings PLC now owns 4,182 shares of the company’s stock valued at $309,000 after acquiring an additional 528 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Ryan Specialty during the first quarter worth about $467,000. Wealth Alliance LLC purchased a new stake in shares of Ryan Specialty in the 1st quarter valued at about $303,000. United Services Automobile Association acquired a new stake in shares of Ryan Specialty in the 1st quarter valued at about $490,000. Finally, Deutsche Bank AG grew its stake in Ryan Specialty by 11.5% during the 1st quarter. Deutsche Bank AG now owns 12,055 shares of the company’s stock worth $891,000 after buying an additional 1,241 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Insider Activity at Ryan Specialty

In other Ryan Specialty news, Chairman Patrick G. Ryan purchased 276,634 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were purchased at an average cost of $51.84 per share, for a total transaction of $14,340,706.56. Following the completion of the purchase, the chairman directly owned 13,699,959 shares in the company, valued at $710,205,874.56. This represents a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 52.21% of the stock is owned by corporate insiders.

Ryan Specialty Stock Up 0.7%

Shares of Ryan Specialty stock opened at $56.99 on Wednesday. Ryan Specialty Holdings Inc. has a one year low of $50.08 and a one year high of $77.16. The company has a market cap of $15.03 billion, a P/E ratio of 123.89, a PEG ratio of 1.58 and a beta of 0.62. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a fifty day moving average of $54.67 and a two-hundred day moving average of $60.94.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. The business had revenue of $754.58 million for the quarter, compared to analyst estimates of $742.35 million. Ryan Specialty had a net margin of 7.61% and a return on equity of 47.93%. The business’s revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 earnings per share. On average, 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, November 25th. Stockholders of record on Tuesday, November 11th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, November 10th. Ryan Specialty’s dividend payout ratio is 104.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on RYAN shares. Barclays reiterated an “overweight” rating and issued a $70.00 price objective on shares of Ryan Specialty in a research note on Wednesday, October 8th. The Goldman Sachs Group decreased their price target on shares of Ryan Specialty from $71.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, October 31st. UBS Group lowered their price objective on shares of Ryan Specialty from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Citigroup started coverage on shares of Ryan Specialty in a report on Wednesday, August 13th. They issued a “buy” rating and a $74.00 target price for the company. Finally, BMO Capital Markets decreased their target price on shares of Ryan Specialty from $70.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $68.69.

Ryan Specialty Company 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.