Kovitz Investment Group Partners LLC Takes $37.64 Million Position in Ryan Specialty Holdings Inc. $RYAN

Kovitz Investment Group Partners LLC purchased a new position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 667,783 shares of the company’s stock, valued at approximately $37,636,000.

A number of other hedge funds also recently modified their holdings of RYAN. Golden State Wealth Management LLC grew its holdings in Ryan Specialty by 10,975.0% during the second quarter. Golden State Wealth Management LLC now owns 443 shares of the company’s stock valued at $30,000 after purchasing an additional 439 shares during the period. MAI Capital Management raised its stake in shares of Ryan Specialty by 65.3% in 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 period. Whittier Trust Co. of Nevada Inc. lifted its position in shares of 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 buying an additional 273 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Ryan Specialty by 65.4% during the 3rd quarter. Fifth Third Bancorp now owns 612 shares of the company’s stock worth $34,000 after acquiring an additional 242 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Ryan Specialty in the 2nd quarter worth about $56,000. Institutional investors own 84.82% of the company’s stock.

Ryan Specialty Stock Up 0.1%

Shares of NYSE:RYAN opened at $41.36 on Monday. The firm has a fifty day moving average price of $48.85 and a two-hundred day moving average price of $53.29. The company has a market cap of $10.93 billion, a price-to-earnings ratio of 98.49, a PEG ratio of 1.07 and a beta of 0.62. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.98 and a quick ratio of 0.98. Ryan Specialty Holdings Inc. has a one year low of $37.29 and a one year 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). The business had revenue of $751.21 million during the quarter, compared to analysts’ expectations of $777.43 million. Ryan Specialty had a return on equity of 46.41% and a net margin of 7.02%.The company’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the business posted $0.45 EPS. Analysts anticipate that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current fiscal 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 given a dividend of $0.13 per share. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, February 24th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.3%. Ryan Specialty’s dividend payout ratio is 114.29%.

Insider Activity at Ryan Specialty

In other news, CEO Timothy William Turner sold 129,570 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $53.61, for a total transaction of $6,946,247.70. Following the completion of the transaction, the chief executive officer owned 12,553 shares of the company’s stock, valued at approximately $672,966.33. The trade was a 91.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 52.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on RYAN. Barclays dropped their price objective on shares of Ryan Specialty from $58.00 to $52.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Cantor Fitzgerald dropped their price target on shares of Ryan Specialty from $52.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 17th. Wells Fargo & Company reduced their price objective on shares of Ryan Specialty from $63.00 to $56.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. TD Cowen restated a “buy” rating on shares of Ryan Specialty in a research report on Wednesday, November 26th. Finally, JPMorgan Chase & Co. reduced their price target on Ryan Specialty from $63.00 to $56.00 and set an “underweight” rating for the company in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Ryan Specialty presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.40.

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.