Ryan Specialty Holdings, Inc. (NYSE:RYAN) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. grew its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 11.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 656,963 shares of the company’s stock after acquiring an additional 67,310 shares during the quarter. Federated Hermes Inc.’s holdings in Ryan Specialty were worth $42,150,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new position in Ryan Specialty during the fourth quarter worth approximately $94,484,000. Norges Bank acquired a new stake in shares of Ryan Specialty during the 4th quarter worth $78,358,000. Principal Financial Group Inc. raised its position in shares of Ryan Specialty by 115.2% in the 4th quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company’s stock worth $117,619,000 after buying an additional 981,505 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in Ryan Specialty by 6,911.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 785,928 shares of the company’s stock valued at $48,036,000 after acquiring an additional 774,718 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Ryan Specialty by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 9,880,504 shares of the company’s stock valued at $633,933,000 after acquiring an additional 529,631 shares during the period. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RYAN has been the subject of several research analyst reports. Royal Bank of Canada cut their price objective on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. Wells Fargo & Company raised their price target on shares of Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, February 21st. UBS Group boosted their price objective on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $75.27.

Insider Buying and Selling

In other Ryan Specialty news, EVP Brendan Martin Mulshine sold 30,000 shares of Ryan Specialty stock in a transaction on Friday, March 14th. The shares were sold at an average price of $69.30, for a total value of $2,079,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $67.15, for a total transaction of $2,350,250.00. Following the sale, the director now directly owns 25,809 shares in the company, valued at $1,733,074.35. This trade represents a 57.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 241,360 shares of company stock worth $16,006,428. Corporate insiders own 11.10% of the company’s stock.

Ryan Specialty Trading Down 2.9 %

Shares of RYAN opened at $68.47 on Tuesday. Ryan Specialty Holdings, Inc. has a one year low of $48.48 and a one year high of $77.16. The stock has a 50-day moving average price of $69.67 and a 200 day moving average price of $68.72. 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 market capitalization of $17.93 billion, a P/E ratio of 99.23, a P/E/G ratio of 1.19 and a beta of 0.66.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The company had revenue of $663.53 million for the quarter, compared to analyst estimates of $658.80 million. Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. Sell-side analysts forecast that Ryan Specialty Holdings, Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Tuesday, March 4th. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.11. Ryan Specialty’s dividend payout ratio is 69.57%.

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.