Mizuho Bank Ltd. Invests $49,000 in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Mizuho Bank Ltd. purchased a new position in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 770 shares of the company’s stock, valued at approximately $49,000.

A number of other institutional investors also recently bought and sold shares of the business. Nicolet Advisory Services LLC lifted its holdings in Ryan Specialty by 9.3% during the fourth quarter. Nicolet Advisory Services LLC now owns 11,301 shares of the company’s stock valued at $706,000 after purchasing an additional 963 shares in the last quarter. Huntington National Bank lifted its holdings in Ryan Specialty by 44.3% in the fourth quarter. Huntington National Bank now owns 1,656 shares of the company’s stock valued at $106,000 after acquiring an additional 508 shares during the last quarter. Headlands Technologies LLC increased its position in shares of Ryan Specialty by 2,644.8% during the 4th quarter. Headlands Technologies LLC now owns 796 shares of the company’s stock worth $51,000 after purchasing an additional 767 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Ryan Specialty by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 1,799,130 shares of the company’s stock valued at $115,468,000 after acquiring an additional 46,960 shares during the last quarter. Finally, Pier 88 Investment Partners LLC acquired a new position in Ryan Specialty during the fourth quarter worth $947,000. 84.82% of the stock is owned by hedge funds and other institutional investors.

Ryan Specialty Stock Performance

Ryan Specialty stock opened at $70.55 on Friday. Ryan Specialty Holdings, Inc. has a 52 week low of $48.48 and a 52 week high of $77.16. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. The stock has a market cap of $18.48 billion, a P/E ratio of 102.25, a price-to-earnings-growth ratio of 1.19 and a beta of 0.66. The stock has a 50 day moving average of $69.60 and a 200-day moving average of $68.60.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Thursday, February 20th. The company reported $0.45 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%. On average, analysts expect 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. Shareholders of record on Tuesday, March 4th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.68%. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Tuesday, March 4th. Ryan Specialty’s dividend payout ratio (DPR) is presently 69.57%.

Insider Activity

In related news, EVP Brendan Martin Mulshine sold 30,000 shares of Ryan Specialty stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $69.30, for a total transaction of $2,079,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 29,466 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $65.06, for a total transaction of $1,917,057.96. Following the completion of the sale, the director now directly owns 45,409 shares of the company’s stock, valued at $2,954,309.54. The trade was a 39.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 241,360 shares of company stock valued at $16,006,428. 11.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company increased 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. Keefe, Bruyette & Woods decreased their target price on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating for the company in a report on Friday, February 21st. UBS Group upped their price target on Ryan Specialty from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Finally, Royal Bank of Canada decreased their price objective on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.