Edgestream Partners L.P. Makes New Investment in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Edgestream Partners L.P. acquired a new position in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) during the 4th quarter, Holdings Channel reports. The fund acquired 50,935 shares of the company’s stock, valued at approximately $3,268,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its stake in Ryan Specialty by 1.5% during the third quarter. State Street Corp now owns 3,273,093 shares of the company’s stock valued at $217,301,000 after purchasing an additional 49,198 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Ryan Specialty by 0.4% in the 3rd quarter. Janus Henderson Group PLC now owns 3,148,916 shares of the company’s stock worth $209,058,000 after buying an additional 13,986 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Ryan Specialty by 115.2% during the 4th quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company’s stock valued at $117,619,000 after buying an additional 981,505 shares in the last quarter. Barclays PLC lifted its holdings in shares of Ryan Specialty by 1.1% in the 3rd quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock valued at $108,994,000 after acquiring an additional 17,267 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Ryan Specialty in the fourth quarter worth about $94,484,000. 84.82% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock in a transaction on Monday, December 16th. The stock was sold at an average price of $66.71, for a total value of $2,334,850.00. Following the transaction, the director now directly owns 60,200 shares in the company, valued at approximately $4,015,942. This trade represents a 36.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 316,451 shares of company stock worth $20,907,793. 11.10% of the stock is currently owned by corporate insiders.

Ryan Specialty Stock Up 0.1 %

Shares of NYSE:RYAN opened at $69.31 on Friday. The business’s 50 day moving average is $66.57 and its 200 day moving average is $67.59. The stock has a market cap of $18.15 billion, a P/E ratio of 100.45, a price-to-earnings-growth ratio of 1.19 and a beta of 0.71. Ryan Specialty Holdings, Inc. has a 52-week low of $48.48 and a 52-week high of $75.97. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40.

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

Ryan Specialty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.12 per share. This is an increase from Ryan Specialty’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, March 4th. This represents a $0.48 dividend on an annualized basis and a yield of 0.69%. Ryan Specialty’s dividend payout ratio (DPR) is 69.57%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RYAN. Morgan Stanley began coverage on Ryan Specialty in a research report on Thursday, December 5th. They set an “overweight” rating and a $90.00 price objective on the stock. Keefe, Bruyette & Woods decreased their price target on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. Royal Bank of Canada lowered their price target on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company in a research 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 company a “buy” rating in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company raised their target price on shares of Ryan Specialty from $64.00 to $69.00 and gave the stock an “equal weight” rating in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $75.27.

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.