Fred Alger Management LLC Acquires 21,428 Shares of Ryan Specialty Holdings Inc. $RYAN

Fred Alger Management LLC increased its holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 20.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 125,666 shares of the company’s stock after acquiring an additional 21,428 shares during the quarter. Fred Alger Management LLC’s holdings in Ryan Specialty were worth $7,083,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in RYAN. Royal Bank of Canada boosted its stake in shares of Ryan Specialty by 10.6% during the 1st quarter. Royal Bank of Canada now owns 59,639 shares of the company’s stock valued at $4,406,000 after purchasing an additional 5,739 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Ryan Specialty by 25.1% in the first quarter. AQR Capital Management LLC now owns 4,972 shares of the company’s stock worth $367,000 after buying an additional 998 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Ryan Specialty by 46.3% in the first quarter. Goldman Sachs Group Inc. now owns 376,154 shares of the company’s stock worth $27,787,000 after buying an additional 119,055 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Ryan Specialty by 11.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 332,823 shares of the company’s stock valued at $24,586,000 after acquiring an additional 33,667 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in Ryan Specialty by 5.2% during the 2nd quarter. ProShare Advisors LLC now owns 4,772 shares of the company’s stock valued at $324,000 after acquiring an additional 238 shares in the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ryan Specialty

In other news, Director Patrick G. Ryan, Jr. bought 25,500 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were purchased at an average price of $39.96 per share, for a total transaction of $1,018,980.00. Following the completion of the purchase, the director owned 428,295 shares in the company, valued at approximately $17,114,668.20. This represents a 6.33% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 52.21% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on Ryan Specialty from $63.00 to $56.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Mizuho reduced their price target on Ryan Specialty from $53.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, February 27th. BMO Capital Markets downgraded Ryan Specialty from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $66.00 to $43.00 in a report on Wednesday, February 25th. Barclays dropped their target price on shares of Ryan Specialty from $52.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, March 11th. Finally, Morgan Stanley reduced their target price on shares of Ryan Specialty from $61.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $56.40.

Ryan Specialty Trading Down 0.0%

Ryan Specialty stock opened at $36.18 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 2.62. The business’s fifty day simple moving average is $44.34 and its two-hundred day simple moving average is $50.96. Ryan Specialty Holdings Inc. has a 12 month low of $35.84 and a 12 month high of $77.16. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of 86.13, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.05). The company had revenue of $751.21 million for the quarter, compared to the consensus estimate of $777.43 million. Ryan Specialty had a net margin of 7.02% and a return on equity of 46.41%. Ryan Specialty’s revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 earnings per share. As a group, equities analysts predict that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were paid a dividend of $0.13 per share. The ex-dividend date was Tuesday, February 24th. This represents a $0.52 dividend on an annualized basis and a yield of 1.4%. This is an increase from Ryan Specialty’s previous quarterly dividend of $0.12. Ryan Specialty’s dividend payout ratio (DPR) is 123.81%.

About Ryan Specialty

Ryan Specialty Group, Inc (NYSE: RYAN) is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients’ unique needs.

Ryan Specialty’s core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.