Fred Alger Management LLC Raises Holdings in Ryan Specialty Holdings Inc. $RYAN

Fred Alger Management LLC grew its holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 20.6% in the third quarter, Holdings Channel reports. The firm owned 125,666 shares of the company’s stock after buying an additional 21,428 shares during the quarter. Fred Alger Management LLC’s holdings in Ryan Specialty were worth $7,083,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RYAN. MAI Capital Management boosted its position in shares of Ryan Specialty by 65.3% during the second quarter. MAI Capital Management now owns 476 shares of the company’s stock valued at $32,000 after buying an additional 188 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Ryan Specialty by 83.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 599 shares of the company’s stock valued at $35,000 after acquiring an additional 273 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Ryan Specialty by 65.4% during the 3rd quarter. Fifth Third Bancorp now owns 612 shares of the company’s stock valued at $34,000 after acquiring an additional 242 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Ryan Specialty during the 2nd quarter valued at about $56,000. Finally, Hantz Financial Services Inc. grew its stake in shares of Ryan Specialty by 878.2% in the third quarter. Hantz Financial Services Inc. now owns 851 shares of the company’s stock worth $48,000 after acquiring an additional 764 shares during the period. 84.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Patrick G. Ryan, Jr. acquired 25,500 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were purchased at an average price of $39.96 per share, with a total value of $1,018,980.00. Following the completion of the purchase, the director directly owned 428,295 shares of the company’s stock, valued at $17,114,668.20. This represents a 6.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 52.21% of the stock is currently owned by insiders.

Ryan Specialty Stock Down 0.0%

Shares of RYAN stock opened at $36.18 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 2.62. Ryan Specialty Holdings Inc. has a 12 month low of $35.84 and a 12 month high of $77.16. The stock has a market cap of $9.56 billion, a P/E ratio of 86.13, a P/E/G ratio of 0.94 and a beta of 0.66. The company has a 50 day simple moving average of $44.34 and a two-hundred day simple moving average of $50.96.

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). The business had revenue of $751.21 million for the quarter, compared to the consensus estimate of $777.43 million. Ryan Specialty had a net margin of 7.02% and a return on equity of 46.41%. The company’s revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 EPS. On average, research analysts expect that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were issued a dividend of $0.13 per share. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, February 24th. Ryan Specialty’s dividend payout ratio is presently 123.81%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Weiss Ratings cut shares of Ryan Specialty from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, February 5th. BMO Capital Markets lowered shares of Ryan Specialty from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $66.00 to $43.00 in a research note on Wednesday, February 25th. UBS Group lowered their price target on Ryan Specialty from $71.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Morgan Stanley dropped their price target on Ryan Specialty from $61.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, February 23rd. Finally, JPMorgan Chase & Co. cut their price objective on Ryan Specialty from $63.00 to $56.00 and set an “underweight” rating for the company in a report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $56.40.

Ryan Specialty Company Profile

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.