Kovitz Investment Group Partners LLC Invests $37.64 Million in Ryan Specialty Holdings Inc. $RYAN

Kovitz Investment Group Partners LLC bought a new stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 667,783 shares of the company’s stock, valued at approximately $37,636,000. Kovitz Investment Group Partners LLC owned 0.25% of Ryan Specialty as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of RYAN. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Ryan Specialty by 2.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,387,108 shares of the company’s stock worth $78,177,000 after purchasing an additional 33,588 shares in the last quarter. Cooper Investors PTY Ltd. raised its stake in Ryan Specialty by 33.9% during the 3rd quarter. Cooper Investors PTY Ltd. now owns 505,374 shares of the company’s stock worth $28,483,000 after buying an additional 127,892 shares during the period. Marshall Wace LLP boosted its holdings in Ryan Specialty by 142.1% in the second quarter. Marshall Wace LLP now owns 380,116 shares of the company’s stock worth $25,844,000 after acquiring an additional 223,124 shares in the last quarter. Waters Parkerson & CO. LLC grew its stake in Ryan Specialty by 4.3% in the third quarter. Waters Parkerson & CO. LLC now owns 508,120 shares of the company’s stock valued at $28,638,000 after acquiring an additional 20,920 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Ryan Specialty by 56.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 68,671 shares of the company’s stock valued at $3,870,000 after acquiring an additional 24,656 shares in the last quarter. 84.82% of the stock is owned by institutional investors.

Ryan Specialty Trading Up 0.1%

Shares of RYAN stock opened at $41.36 on Monday. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $10.93 billion, a price-to-earnings ratio of 98.49, a PEG ratio of 1.07 and a beta of 0.62. Ryan Specialty Holdings Inc. has a 52-week low of $37.29 and a 52-week high of $77.16. The company has a 50-day simple moving average of $48.85 and a two-hundred day simple moving average of $53.29.

Ryan Specialty (NYSE:RYAN) last announced its earnings results on Thursday, February 12th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.05). The business had revenue of $751.21 million during the quarter, compared to analysts’ expectations of $777.43 million. Ryan Specialty had a return on equity of 46.41% and a net margin of 7.02%.Ryan Specialty’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 EPS. Research analysts anticipate that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th will be paid a $0.13 dividend. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, February 24th. This represents a $0.52 dividend on an annualized basis and a yield of 1.3%. Ryan Specialty’s dividend payout ratio is currently 114.29%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Jefferies Financial Group started coverage on Ryan Specialty in a report on Monday, December 1st. They issued a “hold” rating and a $64.00 target price on the stock. Weiss Ratings downgraded shares of Ryan Specialty from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, February 5th. Cantor Fitzgerald reduced their price objective on shares of Ryan Specialty from $52.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, February 17th. Piper Sandler lowered their target price on shares of Ryan Specialty from $58.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Ryan Specialty from $63.00 to $56.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.40.

Insider Activity

In other news, CEO Timothy William Turner sold 129,570 shares of Ryan Specialty stock in a transaction on Friday, December 12th. The stock was sold at an average price of $53.61, for a total transaction of $6,946,247.70. Following the sale, the chief executive officer directly owned 12,553 shares in the company, valued at $672,966.33. The trade was a 91.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 52.21% of the stock is currently owned by corporate insiders.

About Ryan Specialty

Ryan Specialty Group, Inc (NYSE: RYAN) is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients’ unique needs.

Ryan Specialty’s core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.