1,221,287 Shares in Ryan Specialty Holdings, Inc. (NYSE:RYAN) Acquired by Norges Bank

Norges Bank acquired a new stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,221,287 shares of the company’s stock, valued at approximately $78,358,000. Norges Bank owned about 0.47% of Ryan Specialty at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC boosted its holdings in shares of Ryan Specialty by 1.2% during the 4th quarter. Sanctuary Advisors LLC now owns 15,690 shares of the company’s stock valued at $1,045,000 after acquiring an additional 188 shares in the last quarter. State of Alaska Department of Revenue raised its position in Ryan Specialty by 1.6% in the fourth quarter. State of Alaska Department of Revenue now owns 12,130 shares of the company’s stock valued at $778,000 after purchasing an additional 190 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Ryan Specialty by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 3,674 shares of the company’s stock valued at $236,000 after purchasing an additional 196 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Ryan Specialty by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 11,760 shares of the company’s stock worth $755,000 after purchasing an additional 295 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in shares of Ryan Specialty by 5.7% in the fourth quarter. UMB Bank n.a. now owns 5,522 shares of the company’s stock valued at $354,000 after buying an additional 298 shares during the period. Institutional investors and hedge funds own 84.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on RYAN. UBS Group lifted their target price on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Royal Bank of Canada reduced their price objective on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a research note on Friday, February 21st. Wells Fargo & Company raised their target price on Ryan Specialty from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday, February 21st. Keefe, Bruyette & Woods reduced their price target on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. Finally, Morgan Stanley started coverage on Ryan Specialty in a research note on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price target for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $75.27.

Insider Activity at Ryan Specialty

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 29,466 shares of the business’s stock in a transaction on 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 owns 45,409 shares in the company, valued at approximately $2,954,309.54. The trade was a 39.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Brendan Martin Mulshine sold 30,000 shares of the firm’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 disclosure for this sale can be found here. Insiders sold 241,360 shares of company stock valued at $16,006,428 in the last three months. Corporate insiders own 11.10% of the company’s stock.

Ryan Specialty Price Performance

Shares of RYAN opened at $75.14 on Thursday. The firm has a market cap of $19.68 billion, a PE ratio of 108.90, 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 debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50 day moving average price is $69.22 and its two-hundred day moving average price is $68.51.

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 return on equity of 48.01% and a net margin of 9.14%. The company had revenue of $663.53 million for the quarter, compared to the consensus estimate of $658.80 million. On average, equities analysts anticipate 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 was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a $0.12 dividend. The ex-dividend date was Tuesday, March 4th. This is an increase from Ryan Specialty’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 0.64%. Ryan Specialty’s dividend payout ratio (DPR) is currently 69.57%.

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.