GAMMA Investing LLC Boosts Stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

GAMMA Investing LLC raised its position in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 106.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,249 shares of the company’s stock after acquiring an additional 644 shares during the period. GAMMA Investing LLC’s holdings in Ryan Specialty were worth $83,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RYAN. Champlain Investment Partners LLC boosted its position in shares of Ryan Specialty by 28.0% in the first quarter. Champlain Investment Partners LLC now owns 4,937,332 shares of the company’s stock worth $274,022,000 after buying an additional 1,079,505 shares during the period. Norden Group LLC boosted its position 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 worth $43,226,000 after buying an additional 744,049 shares during the period. Bessemer Group Inc. boosted its position 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 buying an additional 488,067 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Ryan Specialty by 132.2% in the second quarter. Bank of New York Mellon Corp now owns 836,209 shares of the company’s stock worth $48,425,000 after buying an additional 476,126 shares during the period. Finally, 2Xideas AG purchased a new stake in shares of Ryan Specialty in the first quarter worth about $19,765,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Ryan Specialty Trading Up 1.0 %

NYSE:RYAN opened at $72.48 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.81. The business’s 50 day moving average is $65.82 and its two-hundred day moving average is $58.83. Ryan Specialty Holdings, Inc. has a 52 week low of $41.49 and a 52 week high of $72.97. The company has a market cap of $18.88 billion, a PE ratio of 136.75, a P/E/G ratio of 1.66 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. The business had revenue of $695.40 million for the quarter, compared to the consensus estimate 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 business posted $0.45 EPS. On average, analysts predict that Ryan Specialty Holdings, Inc. will post 1.81 EPS for the current year.

Ryan Specialty Dividend Announcement

The business 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. This represents a $0.44 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Tuesday, August 13th. Ryan Specialty’s dividend payout ratio (DPR) is 83.02%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on RYAN shares. The Goldman Sachs Group upped their target price on Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. UBS Group upped their target price on Ryan Specialty from $67.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Barclays started coverage on Ryan Specialty in a report on Wednesday, September 4th. They issued an “overweight” rating and a $76.00 price target for the company. 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 report on Tuesday, September 24th. Finally, Citigroup increased their price target on Ryan Specialty from $56.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $70.33.

Insider Buying and Selling

In related news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the firm’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 sale, the executive vice president now owns 24,845 shares of the company’s stock, valued at approximately $1,619,397.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 1,500 shares of Ryan Specialty stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $65.02, for a total transaction of $97,530.00. Following the sale, the director now owns 25,123 shares of the company’s stock, valued at $1,633,497.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeremiah Rawlins Bickham sold 26,233 shares of Ryan Specialty stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $65.18, for a total value of $1,709,866.94. Following the sale, the executive vice president now directly owns 24,845 shares in the company, valued at $1,619,397.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,107,136 shares of company stock valued at $131,860,032. Insiders own 11.10% of the company’s stock.

About Ryan Specialty

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.