24,900 Shares in Ryan Specialty Holdings, Inc. (NYSE:RYAN) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 24,900 shares of the company’s stock, valued at approximately $1,598,000.

Several other institutional investors have also added to or reduced their stakes in RYAN. JPMorgan Chase & Co. lifted its holdings in shares of Ryan Specialty by 107.5% during the third quarter. JPMorgan Chase & Co. now owns 459,464 shares of the company’s stock valued at $30,504,000 after purchasing an additional 238,064 shares in the last quarter. Bar Harbor Wealth Management lifted its stake in Ryan Specialty by 5.9% during the 4th quarter. Bar Harbor Wealth Management now owns 168,871 shares of the company’s stock valued at $10,835,000 after acquiring an additional 9,482 shares during the period. Barclays PLC boosted its holdings in shares of Ryan Specialty by 1.1% during 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. Charles Schwab Investment Management Inc. grew its stake in shares of Ryan Specialty by 43.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 938,187 shares of the company’s stock worth $62,286,000 after acquiring an additional 286,380 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in shares of Ryan Specialty by 51.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 30,760 shares of the company’s stock valued at $2,042,000 after purchasing an additional 10,460 shares during the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Brendan Martin Mulshine sold 30,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $69.30, for a total transaction of $2,079,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 31,409 shares of Ryan Specialty stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $65.64, for a total transaction of $2,061,686.76. Following the completion of the transaction, the director now directly owns 2,697 shares of the company’s stock, valued at $177,031.08. The trade was a 92.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 241,360 shares of company stock worth $16,006,428. Corporate insiders own 11.10% of the company’s stock.

Ryan Specialty Trading Up 0.2 %

Ryan Specialty stock opened at $72.98 on Friday. The firm has a 50 day moving average of $68.74 and a 200 day moving average of $68.25. 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 firm has a market capitalization of $19.11 billion, a price-to-earnings ratio of 105.77, a P/E/G ratio of 1.19 and a beta of 0.71. Ryan Specialty Holdings, Inc. has a 12-month low of $48.48 and a 12-month high of $75.97.

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

Ryan Specialty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.66%. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, March 4th. Ryan Specialty’s payout ratio is 69.57%.

Analyst Ratings Changes

Several brokerages recently issued reports on RYAN. Morgan Stanley initiated coverage on shares of Ryan Specialty in a report on Thursday, December 5th. They issued an “overweight” rating and a $90.00 target price on the stock. Wells Fargo & Company raised their price target on Ryan Specialty from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Friday, February 21st. Keefe, Bruyette & Woods reduced their price objective on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. UBS Group raised their target price on Ryan Specialty from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada cut their price target 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 equities research 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, Ryan Specialty currently has a consensus rating of “Hold” and an average target price 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.