Bank of New York Mellon Corp Acquires 476,126 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Bank of New York Mellon Corp increased its holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 132.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 836,209 shares of the company’s stock after buying an additional 476,126 shares during the period. Bank of New York Mellon Corp owned about 0.32% of Ryan Specialty worth $48,425,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of Ryan Specialty by 96.4% in the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock valued at $35,000 after acquiring an additional 297 shares during the period. Intelligent Financial Strategies purchased a new position in Ryan Specialty in the first quarter valued at about $44,000. Benjamin F. Edwards & Company Inc. bought a new position in Ryan Specialty in the first quarter worth about $45,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Ryan Specialty during the fourth quarter valued at about $106,000. Finally, RiverPark Advisors LLC boosted its holdings in shares of Ryan Specialty by 360.6% in the 1st quarter. RiverPark Advisors LLC now owns 2,773 shares of the company’s stock valued at $154,000 after buying an additional 2,171 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Ryan Specialty Price Performance

NYSE:RYAN opened at $64.63 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.09 and a quick ratio of 1.09. The company has a 50 day moving average price of $61.21 and a 200-day moving average price of $55.64. Ryan Specialty Holdings, Inc. has a 1-year low of $41.49 and a 1-year high of $69.03. The firm has a market cap of $16.83 billion, a price-to-earnings ratio of 121.94, a price-to-earnings-growth ratio of 1.53 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. Ryan Specialty had a net margin of 10.21% and a return on equity of 48.08%. The company had revenue of $695.40 million during the quarter, compared to analysts’ expectations of $695.56 million. During the same quarter in the previous year, the company earned $0.45 earnings per share. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. Equities research analysts forecast that Ryan Specialty Holdings, Inc. will post 1.81 EPS for the current year.

Ryan Specialty Announces Dividend

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

Insiders Place Their Bets

In other news, President Timothy William Turner sold 2,000,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was 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 directly owns 8,095 shares of the company’s stock, valued at approximately $505,532.75. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Nicholas Dominic Cortezi sold 5,375 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $64.73, for a total transaction of $347,923.75. Following the completion of the sale, the director now owns 2,685 shares of the company’s stock, valued at approximately $173,800.05. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Timothy William Turner sold 2,000,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $505,532.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,107,136 shares of company stock worth $131,860,032. 11.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on RYAN. Wolfe Research lowered shares of Ryan Specialty from an “outperform” rating to a “peer perform” rating in a research note on Monday, May 6th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $62.00 target price on shares of Ryan Specialty in a research note on Tuesday, July 2nd. UBS Group raised their price target on Ryan Specialty from $67.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Bank of America started coverage on shares of Ryan Specialty in a research report on Wednesday, May 22nd. They issued a “buy” rating and a $67.00 price objective for the company. Finally, Citigroup upped their price target 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 issued a buy rating to the stock. According to MarketBeat.com, Ryan Specialty presently has an average rating of “Hold” and an average target price of $62.00.

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.