Eagle Asset Management Inc. Has $98.56 Million Stock Holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Eagle Asset Management Inc. lifted its position in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 32.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,380,510 shares of the company’s stock after purchasing an additional 335,180 shares during the period. Eagle Asset Management Inc.’s holdings in Ryan Specialty were worth $98,555,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RYAN. Principal Financial Group Inc. grew its stake in Ryan Specialty by 148.9% in the 3rd quarter. Principal Financial Group Inc. now owns 851,704 shares of the company’s stock valued at $56,545,000 after buying an additional 509,548 shares during the last quarter. Bank of New York Mellon Corp grew its stake in 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 buying an additional 476,126 shares during the last quarter. Jennison Associates LLC grew its stake in Ryan Specialty by 60.2% in the 3rd quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock valued at $68,054,000 after buying an additional 385,366 shares during the last quarter. 2Xideas AG acquired a new position in Ryan Specialty in the 1st quarter valued at about $19,765,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Ryan Specialty by 43.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 938,187 shares of the company’s stock valued at $62,286,000 after buying an additional 286,380 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on RYAN shares. Bank of America boosted their price objective on shares of Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 10th. BMO Capital Markets raised shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $65.00 to $75.00 in a report on Tuesday, September 24th. JPMorgan Chase & Co. upped their price target on shares of Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group upped their price target on shares of Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Barclays upped their price target on shares of Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $71.67.

Ryan Specialty Stock Performance

NYSE RYAN opened at $71.73 on Friday. The company has a market capitalization of $18.78 billion, a PE ratio of 93.16, a price-to-earnings-growth ratio of 1.60 and a beta of 0.62. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. The company has a 50-day simple moving average of $68.88 and a 200 day simple moving average of $62.35. Ryan Specialty Holdings, Inc. has a 52-week low of $41.49 and a 52-week high of $73.10.

Ryan Specialty (NYSE:RYAN) last posted 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 firm 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 last year, the company earned $0.32 earnings per share. On average, research analysts predict that Ryan Specialty Holdings, Inc. will post 1.8 EPS for the current year.

Ryan Specialty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a dividend of $0.11 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.44 annualized dividend and a yield of 0.61%. Ryan Specialty’s dividend payout ratio is currently 57.14%.

Insider Activity at Ryan Specialty

In other Ryan Specialty news, EVP Mark Stephen Katz sold 14,790 shares of Ryan Specialty stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 12,386 shares in the company, valued at $884,236.54. The trade was a 54.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 5,375 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $64.73, for a total transaction of $347,923.75. Following the completion of the sale, the director now owns 2,685 shares of the company’s stock, valued at approximately $173,800.05. The trade was a 66.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,490 shares of company stock valued at $1,553,977. Corporate insiders own 11.10% of the company’s stock.

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.