State of Michigan Retirement System Acquires New Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

State of Michigan Retirement System acquired a new stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 28,000 shares of the company’s stock, valued at approximately $1,621,000.

Several other large investors have also bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in Ryan Specialty by 96.4% in the second quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock valued at $35,000 after buying an additional 297 shares during the period. Precision Wealth Strategies LLC lifted its holdings in Ryan Specialty by 4.1% in the first quarter. Precision Wealth Strategies LLC now owns 15,774 shares of the company’s stock valued at $875,000 after buying an additional 617 shares during the period. Anderson Hoagland & Co. increased its stake in Ryan Specialty by 1.2% in the second quarter. Anderson Hoagland & Co. now owns 51,615 shares of the company’s stock valued at $2,909,000 after purchasing an additional 624 shares in the last quarter. Intelligent Financial Strategies bought a new stake in Ryan Specialty in the first quarter valued at approximately $44,000. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in Ryan Specialty in the first quarter valued at approximately $45,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wolfe Research downgraded shares of Ryan Specialty from an “outperform” rating to a “peer perform” rating in a research note on Monday, May 6th. UBS Group upped their target price on shares of Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. The Goldman Sachs Group upped their target price on shares of Ryan Specialty from $58.00 to $64.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. upped their target price on shares of Ryan Specialty from $54.00 to $56.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Finally, Citigroup upped their target price on shares of Ryan Specialty from $56.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.00.

Ryan Specialty Stock Down 0.1 %

Shares of RYAN stock opened at $64.40 on Thursday. The firm has a fifty day moving average of $60.93 and a 200-day moving average of $55.35. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.81. Ryan Specialty Holdings, Inc. has a 12-month low of $41.49 and a 12-month high of $69.03. The company has a market capitalization of $16.77 billion, a price-to-earnings ratio of 121.51, a P/E/G ratio of 1.53 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last announced its earnings results on Thursday, August 1st. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. Ryan Specialty had a net margin of 10.21% and a return on equity of 48.08%. The business had revenue of $695.40 million during the quarter, compared to analysts’ expectations of $695.56 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The firm’s revenue was up 18.9% on a year-over-year basis. As a group, equities research analysts predict that Ryan Specialty Holdings, Inc. will post 1.81 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.68%. The ex-dividend date was Tuesday, August 13th. Ryan Specialty’s payout ratio is 83.02%.

Insider Buying and Selling

In related news, President Timothy William Turner sold 2,000,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the completion of the transaction, the president now owns 8,095 shares in the company, valued at $505,532.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ryan Specialty news, President Timothy William Turner sold 2,000,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $62.45, for a total value of $124,900,000.00. Following the completion of the sale, the president now owns 8,095 shares in the company, valued at $505,532.75. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 2,325 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $64.60, for a total transaction of $150,195.00. Following the completion of the sale, the director now owns 3,463 shares of the company’s stock, valued at approximately $223,709.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,101,761 shares of company stock worth $131,512,108. 11.10% of the stock is owned by insiders.

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.