Janney Montgomery Scott LLC Boosts Stock Holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Janney Montgomery Scott LLC raised its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 11.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,994 shares of the company’s stock after buying an additional 1,799 shares during the period. Janney Montgomery Scott LLC’s holdings in Ryan Specialty were worth $1,128,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Champlain Investment Partners LLC boosted its holdings in shares of Ryan Specialty by 28.0% in the 1st quarter. Champlain Investment Partners LLC now owns 4,937,332 shares of the company’s stock valued at $274,022,000 after purchasing an additional 1,079,505 shares during the last quarter. Blair William & Co. IL boosted its holdings in shares of Ryan Specialty by 3.4% in the 2nd quarter. Blair William & Co. IL now owns 2,866,003 shares of the company’s stock valued at $165,970,000 after purchasing an additional 94,663 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Ryan Specialty by 33.9% in the 1st quarter. Bessemer Group Inc. now owns 1,925,864 shares of the company’s stock valued at $106,886,000 after purchasing an additional 488,067 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Ryan Specialty by 132.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 836,209 shares of the company’s stock valued at $48,425,000 after purchasing an additional 476,126 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Ryan Specialty by 22.4% in the 2nd quarter. Federated Hermes Inc. now owns 552,742 shares of the company’s stock valued at $32,009,000 after purchasing an additional 101,022 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ryan Specialty

In other news, Director Nicholas Dominic Cortezi sold 1,703 shares of Ryan Specialty stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $64.66, for a total value of $110,115.98. Following the completion of the transaction, the director now directly owns 3,800 shares of the company’s stock, valued at approximately $245,708. The trade was a 30.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark Stephen Katz sold 14,790 shares of Ryan Specialty stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the completion of the transaction, the executive vice president now directly owns 12,386 shares of the company’s stock, valued at $884,236.54. This trade represents a 54.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 94,193 shares of company stock valued at $6,208,493. Insiders own 11.10% of the company’s stock.

Ryan Specialty Stock Performance

Ryan Specialty stock opened at $70.94 on Friday. Ryan Specialty Holdings, Inc. has a 12-month low of $41.49 and a 12-month high of $73.10. The company has a market capitalization of $18.58 billion, a price-to-earnings ratio of 92.13, a price-to-earnings-growth ratio of 1.63 and a beta of 0.62. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s fifty day moving average price is $68.28 and its 200 day moving average price is $61.82.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, hitting the consensus estimate of $0.41. The company had revenue of $604.69 million during the quarter, compared to the consensus estimate of $602.04 million. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The company’s revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 EPS. On average, research analysts forecast that Ryan Specialty Holdings, Inc. will post 1.8 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Tuesday, November 12th. Ryan Specialty’s payout ratio is currently 57.14%.

Analyst Ratings Changes

A number of brokerages have recently commented on RYAN. BMO Capital Markets raised shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and raised their target price for the company from $65.00 to $75.00 in a research note on Tuesday, September 24th. UBS Group raised their target price on shares of Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Barclays began coverage on shares of Ryan Specialty in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $76.00 target price on the stock. Wells Fargo & Company raised their target price on shares of Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, Bank of America raised their target price on shares of Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $70.33.

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.