Ascent Group LLC Purchases Shares of 3,750 Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Ascent Group LLC acquired a new position in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) in the 2nd quarter, Holdings Channel reports. The fund acquired 3,750 shares of the company’s stock, valued at approximately $217,000.

A number of other large investors have also recently made changes to their positions in RYAN. Champlain Investment Partners LLC raised its stake in Ryan Specialty by 28.0% in the 1st quarter. Champlain Investment Partners LLC now owns 4,937,332 shares of the company’s stock worth $274,022,000 after acquiring an additional 1,079,505 shares during the last quarter. Norden Group LLC increased its holdings in shares of Ryan Specialty by 2,138.1% in the first quarter. Norden Group LLC now owns 778,848 shares of the company’s stock valued at $43,226,000 after purchasing an additional 744,049 shares during the period. Bessemer Group Inc. raised its stake in shares of Ryan Specialty by 33.9% in the first quarter. Bessemer Group Inc. now owns 1,925,864 shares of the company’s stock worth $106,886,000 after purchasing an additional 488,067 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Ryan Specialty by 132.2% during the second quarter. Bank of New York Mellon Corp now owns 836,209 shares of the company’s stock worth $48,425,000 after purchasing an additional 476,126 shares during the period. Finally, Norges Bank purchased a new stake in Ryan Specialty in the fourth quarter valued at approximately $16,964,000. 84.82% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 5,375 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $64.73, for a total value of $347,923.75. Following the transaction, the director now directly owns 2,685 shares of the company’s stock, valued at approximately $173,800.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $65.18, for a total value of $1,709,866.94. Following the completion of the sale, the executive vice president now directly owns 24,845 shares in the company, valued at $1,619,397.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 stock was sold at an average price of $64.73, for a total value of $347,923.75. Following the transaction, the director now owns 2,685 shares in the company, valued at approximately $173,800.05. The disclosure for this sale can be found here. Insiders sold 2,107,136 shares of company stock valued at $131,860,032 over the last 90 days. Corporate insiders own 11.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RYAN. Barclays started coverage on shares of Ryan Specialty in a research report on Wednesday, September 4th. They set an “overweight” rating and a $76.00 price target for the company. JPMorgan Chase & Co. raised their target price on shares of Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Citigroup increased their price target on Ryan Specialty from $56.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. BMO Capital Markets upgraded Ryan Specialty from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $65.00 to $75.00 in a research note on Tuesday, September 24th. Finally, The Goldman Sachs Group upped their target price on Ryan Specialty from $58.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $66.78.

Ryan Specialty Stock Performance

NYSE RYAN opened at $68.20 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.81. Ryan Specialty Holdings, Inc. has a twelve month low of $41.49 and a twelve month high of $69.14. The stock has a 50-day moving average of $64.21 and a 200 day moving average of $57.86. The stock has a market capitalization of $17.83 billion, a price-to-earnings ratio of 128.68, a PEG ratio of 1.56 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last announced its earnings results on Thursday, August 1st. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. The firm 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 business’s revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 EPS. Sell-side analysts anticipate that Ryan Specialty Holdings, Inc. will post 1.81 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a $0.11 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $0.44 annualized dividend and a dividend yield of 0.65%. Ryan Specialty’s dividend payout ratio (DPR) is 83.02%.

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.