Thrivent Financial for Lutherans Purchases 24,154 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Thrivent Financial for Lutherans lifted its position in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 519.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,803 shares of the company’s stock after acquiring an additional 24,154 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Ryan Specialty were worth $1,668,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Ryan Specialty by 96.4% in the second quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock worth $35,000 after purchasing an additional 297 shares in the last quarter. Crewe Advisors LLC bought a new position in Ryan Specialty in the second quarter worth about $39,000. Intelligent Financial Strategies bought a new position in Ryan Specialty in the first quarter worth about $44,000. Benjamin F. Edwards & Company Inc. bought a new position in Ryan Specialty in the first quarter worth about $45,000. Finally, Rothschild Investment LLC purchased a new stake in shares of Ryan Specialty during the second quarter worth about $87,000. 84.82% of the stock is currently owned by institutional investors.

Ryan Specialty Price Performance

Shares of NYSE RYAN opened at $69.11 on Thursday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.09 and a current ratio of 1.09. Ryan Specialty Holdings, Inc. has a fifty-two week low of $41.49 and a fifty-two week high of $69.53. The firm has a market capitalization of $18.07 billion, a PE ratio of 130.40, a price-to-earnings-growth ratio of 1.56 and a beta of 0.62. The stock’s 50-day simple moving average is $64.42 and its 200-day simple moving average is $57.94.

Ryan Specialty (NYSE:RYAN) last released its quarterly 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. The company had revenue of $695.40 million for the quarter, compared to analyst estimates of $695.56 million. Ryan Specialty had a return on equity of 48.08% and a net margin of 10.21%. The firm’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 earnings per share. As a group, equities research analysts forecast that Ryan Specialty Holdings, Inc. will post 1.81 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Tuesday, August 13th. Ryan Specialty’s dividend payout ratio (DPR) is 83.02%.

Insiders Place Their Bets

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 5,375 shares of Ryan Specialty stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $64.73, for a total transaction of $347,923.75. Following the transaction, the director now owns 2,685 shares of the company’s stock, valued at $173,800.05. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Ryan Specialty news, President Timothy William Turner sold 2,000,000 shares of Ryan Specialty stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $62.45, for a total value of $124,900,000.00. Following the transaction, the president now directly owns 8,095 shares in the company, valued at approximately $505,532.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nicholas Dominic Cortezi sold 5,375 shares of Ryan Specialty stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $64.73, for a total value of $347,923.75. Following the completion of the sale, the director now owns 2,685 shares in the company, valued at $173,800.05. The disclosure for this sale can be found here. Insiders have sold a total of 2,107,136 shares of company stock valued at $131,860,032 over the last quarter. Company insiders own 11.10% of the company’s stock.

Wall Street Analysts Forecast Growth

RYAN has been the subject of several analyst reports. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $62.00 target price on shares of Ryan Specialty in a report on Tuesday, July 2nd. Barclays initiated coverage on Ryan Specialty in a report on Wednesday, September 4th. They set an “overweight” rating and a $76.00 target price for the company. Citigroup increased their price target on Ryan Specialty from $56.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. BMO Capital Markets raised Ryan Specialty from a “market perform” rating to an “outperform” rating and increased their price target for the company from $65.00 to $75.00 in a research report on Tuesday, September 24th. Finally, UBS Group increased their price target on Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $66.78.

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.