Handelsbanken Fonder AB Purchases 15,700 Shares of Ryan Specialty Holdings Inc. $RYAN

Handelsbanken Fonder AB boosted its position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 65.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 39,600 shares of the company’s stock after purchasing an additional 15,700 shares during the period. Handelsbanken Fonder AB’s holdings in Ryan Specialty were worth $2,232,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Artisan Partners Limited Partnership boosted its position in shares of Ryan Specialty by 19.3% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,139,836 shares of the company’s stock worth $64,241,000 after acquiring an additional 184,390 shares in the last quarter. Xponance Inc. lifted its stake in Ryan Specialty by 2.7% during the third quarter. Xponance Inc. now owns 22,878 shares of the company’s stock worth $1,289,000 after purchasing an additional 608 shares during the last quarter. Montrusco Bolton Investments Inc. lifted its stake in Ryan Specialty by 23.7% during the third quarter. Montrusco Bolton Investments Inc. now owns 3,974,869 shares of the company’s stock worth $217,745,000 after purchasing an additional 762,638 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Ryan Specialty in the 3rd quarter valued at $676,000. Finally, TD Asset Management Inc increased its stake in shares of Ryan Specialty by 2,181.8% in the 3rd quarter. TD Asset Management Inc now owns 205,133 shares of the company’s stock valued at $11,561,000 after purchasing an additional 196,143 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. BMO Capital Markets downgraded Ryan Specialty from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $66.00 to $43.00 in a research report on Wednesday, February 25th. Barclays lowered their target price on Ryan Specialty from $58.00 to $52.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Piper Sandler dropped their target price on shares of Ryan Specialty from $58.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, February 13th. Jefferies Financial Group began coverage on shares of Ryan Specialty in a report on Monday, December 1st. They set a “hold” rating and a $64.00 price target on the stock. Finally, UBS Group lowered their price objective on shares of Ryan Specialty from $71.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $56.87.

Ryan Specialty Stock Performance

Shares of RYAN stock opened at $39.51 on Thursday. The firm has a market capitalization of $10.44 billion, a price-to-earnings ratio of 94.07, a PEG ratio of 1.04 and a beta of 0.65. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 2.62. The business’s 50-day moving average price is $46.66 and its 200-day moving average price is $52.20. Ryan Specialty Holdings Inc. has a 12 month low of $37.29 and a 12 month high of $77.16.

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

Ryan Specialty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, February 24th. Ryan Specialty’s dividend payout ratio (DPR) is presently 123.81%.

Insider Buying and Selling at Ryan Specialty

In related news, Director Patrick G. Ryan, Jr. purchased 25,500 shares of Ryan Specialty stock in a transaction on Monday, February 23rd. The shares were purchased at an average price of $39.96 per share, for a total transaction of $1,018,980.00. Following the transaction, the director owned 428,295 shares of the company’s stock, valued at approximately $17,114,668.20. This represents a 6.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Timothy William Turner sold 129,570 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $53.61, for a total value of $6,946,247.70. Following the completion of the sale, the chief executive officer directly owned 12,553 shares of the company’s stock, valued at approximately $672,966.33. The trade was a 91.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 52.21% of the company’s stock.

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.