1,472,629 Shares in Ryan Specialty Holdings, Inc. (NYSE:RYAN) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,472,629 shares of the company’s stock, valued at approximately $94,484,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Jennison Associates LLC boosted its holdings in shares of Ryan Specialty by 60.2% in the 3rd quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock worth $68,054,000 after purchasing an additional 385,366 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Ryan Specialty by 107.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 459,464 shares of the company’s stock worth $30,504,000 after purchasing an additional 238,064 shares in the last quarter. Bar Harbor Wealth Management lifted its stake in shares of Ryan Specialty by 5.9% in 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 last quarter. Barclays PLC lifted its stake 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, Crossmark Global Holdings Inc. bought a new stake in shares of Ryan Specialty in the 3rd quarter valued at about $475,000. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Ryan Specialty Trading Up 0.1 %

RYAN opened at $69.31 on Monday. The business has a 50 day simple moving average of $66.57 and a two-hundred day simple moving average of $67.60. The firm has a market capitalization of $18.15 billion, a price-to-earnings ratio of 100.45, a PEG ratio of 1.19 and a beta of 0.71. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. Ryan Specialty Holdings, Inc. has a one year low of $48.48 and a one year high of $75.97.

Ryan Specialty (NYSE:RYAN) last announced 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 return on equity of 48.01% and a net margin of 9.14%. The firm had revenue of $663.53 million during the quarter, compared to the consensus estimate of $658.80 million. Analysts predict that Ryan Specialty Holdings, Inc. will post 2.29 EPS for the current year.

Ryan Specialty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be given a $0.12 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.48 annualized dividend and a dividend yield of 0.69%. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.11. Ryan Specialty’s dividend payout ratio is currently 69.57%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RYAN. UBS Group boosted their target price on Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Barclays boosted their target price on Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Royal Bank of Canada lowered their target price 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. Keefe, Bruyette & Woods lowered their target price on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Finally, Wells Fargo & Company boosted their target price on Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $75.27.

Insider Transactions at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 29,466 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $65.06, for a total value of $1,917,057.96. Following the sale, the director now owns 45,409 shares in the company, valued at $2,954,309.54. This represents a 39.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 316,451 shares of company stock valued at $20,907,793. 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.