Cerity Partners LLC Grows Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Cerity Partners LLC grew its position in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 93.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,755 shares of the company’s stock after buying an additional 3,755 shares during the period. Cerity Partners LLC’s holdings in Ryan Specialty were worth $498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Rakuten Securities Inc. acquired a new stake in shares of Ryan Specialty in the fourth quarter valued at about $27,000. Principal Securities Inc. raised its holdings in shares of Ryan Specialty by 164.7% during the fourth quarter. Principal Securities Inc. now owns 667 shares of the company’s stock valued at $43,000 after acquiring an additional 415 shares during the last quarter. Mizuho Bank Ltd. purchased a new position in shares of Ryan Specialty in the fourth quarter valued at approximately $49,000. Headlands Technologies LLC boosted its stake in shares of Ryan Specialty by 2,644.8% in the fourth quarter. Headlands Technologies LLC now owns 796 shares of the company’s stock worth $51,000 after acquiring an additional 767 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Ryan Specialty during the fourth quarter worth approximately $54,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Brendan Martin Mulshine sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $69.30, for a total value of $2,079,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Nicholas Dominic Cortezi sold 10,485 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $65.12, for a total transaction of $682,783.20. Following the transaction, the director now owns 11,109 shares of the company’s stock, valued at $723,418.08. This trade represents a 48.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 106,894 shares of company stock worth $7,107,220 over the last 90 days. Corporate insiders own 11.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RYAN shares. Royal Bank of Canada dropped their target price on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. Keefe, Bruyette & Woods lowered their target price on Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. TD Cowen initiated coverage on Ryan Specialty in a report on Thursday, April 10th. They issued a “buy” rating and a $89.00 price target for the company. Wells Fargo & Company dropped their target price on Ryan Specialty from $69.00 to $66.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. Finally, UBS Group boosted their price target on shares of Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $75.67.

Ryan Specialty Stock Down 4.3 %

Shares of NYSE RYAN opened at $67.57 on Tuesday. Ryan Specialty Holdings, Inc. has a 52-week low of $48.48 and a 52-week high of $77.16. The business’s 50 day moving average is $70.47 and its two-hundred day moving average is $68.99. The firm has a market cap of $17.70 billion, a price-to-earnings ratio of 97.93, a PEG ratio of 1.19 and a beta of 0.66. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40.

Ryan Specialty (NYSE:RYAN) last announced its earnings results on Thursday, February 20th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The firm had revenue of $663.53 million for the quarter, compared to analysts’ expectations of $658.80 million. Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. Research analysts predict that Ryan Specialty Holdings, Inc. will post 2.29 EPS for the current year.

Ryan Specialty Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 0.71%. Ryan Specialty’s dividend payout ratio is 69.57%.

About Ryan Specialty

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.