Wilmington Savings Fund Society FSB Makes New Investment in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Wilmington Savings Fund Society FSB bought a new stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,900 shares of the company’s stock, valued at approximately $193,000.

Several other institutional investors also recently modified their holdings of the business. Principal Financial Group Inc. boosted its stake in Ryan Specialty by 148.9% in the third quarter. Principal Financial Group Inc. now owns 851,704 shares of the company’s stock valued at $56,545,000 after acquiring an additional 509,548 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Ryan Specialty by 132.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 836,209 shares of the company’s stock valued at $48,425,000 after purchasing an additional 476,126 shares during the period. Jennison Associates LLC boosted its position in shares of Ryan Specialty by 60.2% in the 3rd quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock worth $68,054,000 after purchasing an additional 385,366 shares during the last quarter. Eagle Asset Management Inc. grew its stake in shares of Ryan Specialty by 32.1% during the third quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company’s stock worth $98,555,000 after purchasing an additional 335,180 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Ryan Specialty by 43.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 938,187 shares of the company’s stock valued at $62,286,000 after purchasing an additional 286,380 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, EVP Mark Stephen Katz sold 14,790 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $71.39, for a total value of $1,055,858.10. Following the completion of the sale, the executive vice president now owns 12,386 shares in the company, valued at $884,236.54. This trade represents a 54.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $66.71, for a total transaction of $2,334,850.00. Following the transaction, the director now owns 60,200 shares in the company, valued at $4,015,942. This represents a 36.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,845 shares of company stock valued at $6,249,417. 11.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RYAN. Barclays boosted their target price on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Bank of America boosted their price objective on shares of Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company increased their target price on shares of Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. The Goldman Sachs Group boosted their price target on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets raised Ryan Specialty from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $65.00 to $75.00 in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Ryan Specialty presently has an average rating of “Hold” and an average target price of $73.50.

Ryan Specialty Stock Down 2.7 %

RYAN stock opened at $63.73 on Thursday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $16.69 billion, a P/E ratio of 82.77, a P/E/G ratio of 1.52 and a beta of 0.67. Ryan Specialty Holdings, Inc. has a fifty-two week low of $41.57 and a fifty-two week high of $75.97. The business has a 50-day moving average of $70.53 and a 200-day moving average of $64.71.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The firm had revenue of $604.69 million during the quarter, compared to the consensus estimate of $602.04 million. During the same quarter in the prior year, the firm posted $0.32 EPS. The business’s revenue was up 20.5% on a year-over-year basis. On average, sell-side analysts anticipate that Ryan Specialty Holdings, Inc. will post 1.82 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Tuesday, November 12th. Ryan Specialty’s payout ratio is 57.14%.

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.