Wellington Management Group LLP Invests $29.60 Million in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Wellington Management Group LLP 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 fund acquired 461,333 shares of the company’s stock, valued at approximately $29,599,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Ryan Specialty during the fourth quarter worth about $94,484,000. Norges Bank bought a new stake in Ryan Specialty in the 4th quarter valued at approximately $78,358,000. Principal Financial Group Inc. boosted its position in Ryan Specialty by 115.2% during the 4th quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company’s stock worth $117,619,000 after acquiring an additional 981,505 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Ryan Specialty by 6,911.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 785,928 shares of the company’s stock worth $48,036,000 after acquiring an additional 774,718 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Ryan Specialty by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 9,880,504 shares of the company’s stock valued at $633,933,000 after purchasing an additional 529,631 shares during the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Ryan Specialty Price Performance

NYSE:RYAN opened at $70.55 on Monday. The firm’s fifty day moving average price is $69.60 and its two-hundred day moving average price is $68.68. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $18.48 billion, a P/E ratio of 102.25, a P/E/G ratio of 1.19 and a beta of 0.66. Ryan Specialty Holdings, Inc. has a one year low of $48.48 and a one year high of $77.16.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.45 earnings per share 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 company had revenue of $663.53 million during the quarter, compared to the consensus estimate of $658.80 million. Equities analysts expect that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were paid a $0.12 dividend. The ex-dividend date of this dividend 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 yield of 0.68%. Ryan Specialty’s payout ratio is 69.57%.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 35,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $65.99, for a total transaction of $2,309,650.00. Following the transaction, the director now owns 35,609 shares in the company, valued at $2,349,837.91. This represents a 49.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Brendan Martin Mulshine sold 30,000 shares of Ryan Specialty stock in a transaction that occurred 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 have sold a total of 241,360 shares of company stock valued at $16,006,428 in the last ninety days. 11.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RYAN shares. Keefe, Bruyette & Woods decreased their target price on shares of 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 price objective on Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Royal Bank of Canada dropped their target price on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. Finally, Wells Fargo & Company raised their price target 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 research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $75.27.

Ryan Specialty Company 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.