Janney Montgomery Scott LLC Buys 1,178 Shares of Ryan Specialty Holdings Inc. (NYSE:RYAN)

Janney Montgomery Scott LLC raised its stake in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 6.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,003 shares of the company’s stock after purchasing an additional 1,178 shares during the period. Janney Montgomery Scott LLC’s holdings in Ryan Specialty were worth $1,404,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Principal Securities Inc. raised its stake in shares of Ryan Specialty by 164.7% in the 4th quarter. Principal Securities Inc. now owns 667 shares of the company’s stock valued at $43,000 after buying an additional 415 shares in the last quarter. Truist Financial Corp raised its stake in shares of Ryan Specialty by 7.2% in the 4th quarter. Truist Financial Corp now owns 5,688 shares of the company’s stock valued at $365,000 after buying an additional 381 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Ryan Specialty by 16.8% in the 4th quarter. Bank of New York Mellon Corp now owns 898,865 shares of the company’s stock valued at $57,671,000 after buying an additional 129,354 shares in the last quarter. Amalgamated Bank raised its stake in shares of Ryan Specialty by 3.3% in the 4th quarter. Amalgamated Bank now owns 51,781 shares of the company’s stock valued at $3,322,000 after buying an additional 1,670 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Ryan Specialty by 4.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,700 shares of the company’s stock valued at $1,392,000 after buying an additional 900 shares in the last quarter. 84.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. TD Cowen assumed coverage on shares of Ryan Specialty in a research note on Thursday, April 10th. They issued a “buy” rating and a $89.00 price objective for the company. The Goldman Sachs Group upgraded shares of Ryan Specialty from a “neutral” rating to a “buy” rating and increased their target price for the stock from $74.00 to $81.00 in a research report on Tuesday, May 13th. Barclays dropped their target price on shares of Ryan Specialty from $88.00 to $83.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Wells Fargo & Company dropped their target price on shares of Ryan Specialty from $69.00 to $66.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ryan Specialty currently has a consensus rating of “Moderate Buy” and an average price target of $75.58.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, Director David P. Bolger sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $70.80, for a total value of $354,000.00. Following the completion of the sale, the director now owns 71,467 shares of the company’s stock, valued at approximately $5,059,863.60. This represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Stephen Katz sold 14,377 shares of the company’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $65.84, for a total transaction of $946,581.68. Following the completion of the sale, the executive vice president now directly owns 1,117 shares of the company’s stock, valued at $73,543.28. The trade was a 92.79% decrease in their position. The disclosure for this sale can be found here. Insiders own 52.21% of the company’s stock.

Ryan Specialty Stock Up 0.7%

Shares of NYSE:RYAN opened at $67.73 on Friday. Ryan Specialty Holdings Inc. has a one year low of $55.67 and a one year high of $77.16. The company has a 50 day moving average of $68.23 and a 200-day moving average of $68.07. The company has a debt-to-equity ratio of 3.45, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $17.77 billion, a price-to-earnings ratio of 199.20, a P/E/G ratio of 1.79 and a beta of 0.70.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. Ryan Specialty had a net margin of 6.97% and a return on equity of 47.70%. The company had revenue of $690.17 million during the quarter, compared to analysts’ expectations of $680.80 million. During the same quarter in the previous year, the company earned $0.35 EPS. Ryan Specialty’s revenue was up 25.0% on a year-over-year basis. On average, sell-side analysts forecast that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Tuesday, May 13th. Ryan Specialty’s payout ratio is presently 141.18%.

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.