CIBC Asset Management Inc Takes $231,000 Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

CIBC Asset Management Inc acquired a new position in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,478 shares of the company’s stock, valued at approximately $231,000.

A number of other institutional investors have also recently bought and sold shares of RYAN. Principal Financial Group Inc. raised its holdings in Ryan Specialty by 148.9% in the third quarter. Principal Financial Group Inc. now owns 851,704 shares of the company’s stock worth $56,545,000 after purchasing an additional 509,548 shares during the period. Bank of New York Mellon Corp raised its stake in Ryan Specialty by 132.2% during the 2nd 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. 2Xideas AG bought a new position in Ryan Specialty during the first quarter worth about $19,765,000. Driehaus Capital Management LLC acquired a new position in Ryan Specialty in the second quarter valued at about $16,313,000. Finally, Rhumbline Advisers grew its stake in Ryan Specialty by 153.9% in the second quarter. Rhumbline Advisers now owns 283,952 shares of the company’s stock valued at $16,444,000 after acquiring an additional 172,101 shares during the period. Institutional investors and hedge funds own 84.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RYAN shares. The Goldman Sachs Group lifted their price objective on Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price target 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. Wells Fargo & Company increased their price objective on shares of Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. UBS Group boosted their price objective on shares of Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, Barclays increased their target price on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $71.67.

Insider Activity

In other Ryan Specialty news, EVP Mark Stephen Katz sold 14,790 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the transaction, the executive vice president now owns 12,386 shares in the company, valued at $884,236.54. This trade represents a 54.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nicholas Dominic Cortezi sold 2,325 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 3,463 shares in the company, valued at $223,709.80. This trade represents a 40.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,490 shares of company stock valued at $1,553,977. 11.10% of the stock is owned by company insiders.

Ryan Specialty Price Performance

NYSE:RYAN opened at $73.52 on Friday. Ryan Specialty Holdings, Inc. has a 52-week low of $41.49 and a 52-week high of $74.53. The company has a market cap of $19.25 billion, a P/E ratio of 95.48, a P/E/G ratio of 1.60 and a beta of 0.62. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50-day simple moving average is $69.06 and its 200 day simple moving average is $62.51.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.41. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The company had revenue of $604.69 million for the quarter, compared to analysts’ expectations of $602.04 million. During the same quarter in the prior year, the business posted $0.32 EPS. The business’s revenue was up 20.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Ryan Specialty Holdings, Inc. will post 1.8 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.44 annualized dividend and a dividend yield of 0.60%. Ryan Specialty’s dividend payout ratio is presently 57.14%.

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.