First Trust Advisors LP Raises Stake in Ryan Specialty Holdings Inc. $RYAN

First Trust Advisors LP increased its position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 16.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 686,569 shares of the company’s stock after acquiring an additional 97,986 shares during the quarter. First Trust Advisors LP’s holdings in Ryan Specialty were worth $46,680,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SVB Wealth LLC purchased a new stake in shares of Ryan Specialty in the 1st quarter valued at approximately $26,000. WPG Advisers LLC purchased a new stake in shares of Ryan Specialty during the 1st quarter valued at approximately $32,000. Golden State Wealth Management LLC lifted its holdings in Ryan Specialty by 10,975.0% in the second quarter. Golden State Wealth Management LLC now owns 443 shares of the company’s stock valued at $30,000 after acquiring an additional 439 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Ryan Specialty in the second quarter valued at approximately $31,000. Finally, MAI Capital Management grew its position in Ryan Specialty by 65.3% in the second quarter. MAI Capital Management now owns 476 shares of the company’s stock worth $32,000 after acquiring an additional 188 shares during the period. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RYAN. The Goldman Sachs Group decreased their price target on Ryan Specialty from $71.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Barclays reduced their price objective on shares of Ryan Specialty from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, November 20th. UBS Group lowered their target price on shares of Ryan Specialty from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Wells Fargo & Company boosted their price target on shares of Ryan Specialty from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Ryan Specialty from $73.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.60.

Insider Activity

In other news, Chairman Patrick G. Ryan acquired 276,634 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were purchased at an average cost of $51.84 per share, for a total transaction of $14,340,706.56. Following the transaction, the chairman directly owned 13,699,959 shares in the company, valued at approximately $710,205,874.56. This represents a 2.06% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 52.21% of the company’s stock.

Ryan Specialty Trading Down 2.3%

RYAN opened at $53.86 on Tuesday. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.00 and a current ratio of 1.00. Ryan Specialty Holdings Inc. has a one year low of $50.08 and a one year high of $77.16. The company has a market cap of $14.21 billion, a P/E ratio of 117.08, a PEG ratio of 1.54 and a beta of 0.61. The business’s 50-day simple moving average is $55.63 and its 200-day simple moving average is $59.70.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. Ryan Specialty had a net margin of 7.61% and a return on equity of 47.93%. The firm had revenue of $754.58 million for the quarter, compared to analyst estimates of $742.35 million. During the same period last year, the business earned $0.41 EPS. Ryan Specialty’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, equities research analysts expect that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Monday, November 10th. Ryan Specialty’s dividend payout ratio (DPR) is 104.35%.

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.