Handelsbanken Fonder AB Raises Stock Position in Ryan Specialty Holdings Inc. $RYAN

Handelsbanken Fonder AB grew its stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 8.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,900 shares of the company’s stock after acquiring an additional 1,800 shares during the period. Handelsbanken Fonder AB’s holdings in Ryan Specialty were worth $1,625,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Montrusco Bolton Investments Inc. acquired a new position in Ryan Specialty during the second quarter worth $213,852,000. Artisan Partners Limited Partnership purchased a new position in shares of Ryan Specialty in the second quarter valued at $64,961,000. Invesco Ltd. raised its stake in shares of Ryan Specialty by 121.6% during the 1st quarter. Invesco Ltd. now owns 1,590,862 shares of the company’s stock worth $117,517,000 after buying an additional 872,846 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Ryan Specialty in the 2nd quarter worth about $37,321,000. Finally, Woodline Partners LP acquired a new stake in Ryan Specialty in the 1st quarter valued at about $40,278,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Insider Activity at Ryan Specialty

In related news, Chairman Patrick G. Ryan acquired 276,634 shares of the company’s stock in a transaction dated Friday, September 12th. The stock was bought at an average price of $51.84 per share, with a total value of $14,340,706.56. Following the purchase, the chairman directly owned 13,699,959 shares in the company, valued at $710,205,874.56. The trade was a 2.06% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 52.21% of the stock is currently owned by corporate insiders.

Ryan Specialty Price Performance

RYAN stock opened at $58.12 on Thursday. The stock has a market capitalization of $15.33 billion, a P/E ratio of 126.35, a PEG ratio of 1.63 and a beta of 0.62. 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 50 day moving average price of $55.30 and a two-hundred day moving average price of $60.48.

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

Ryan Specialty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th were issued a $0.12 dividend. The ex-dividend date was Monday, November 10th. This represents a $0.48 annualized dividend and a yield of 0.8%. Ryan Specialty’s payout ratio is 104.35%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RYAN shares. Wall Street Zen upgraded shares of Ryan Specialty from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Cantor Fitzgerald upgraded Ryan Specialty to a “hold” rating in a research report on Wednesday, August 13th. Wolfe Research raised Ryan Specialty to a “strong-buy” rating in a research note on Tuesday, September 16th. Jefferies Financial Group set a $76.00 price target on Ryan Specialty in a research report on Wednesday. Finally, Morgan Stanley boosted their price target on Ryan Specialty from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.40.

Ryan Specialty Company 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.