Geneva Partners LLC Invests $2.54 Million in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Geneva Partners LLC acquired a new stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 38,217 shares of the company’s stock, valued at approximately $2,537,000. Ryan Specialty makes up about 1.1% of Geneva Partners LLC’s portfolio, making the stock its 29th largest position.

A number of other hedge funds have also made changes to their positions in the stock. Janney Montgomery Scott LLC boosted its stake in Ryan Specialty by 11.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 16,994 shares of the company’s stock valued at $1,128,000 after purchasing an additional 1,799 shares in the last quarter. Stephens Inc. AR acquired a new stake in shares of Ryan Specialty in the third quarter valued at $289,000. Boston Financial Mangement LLC boosted its stake in Ryan Specialty by 0.5% during the third quarter. Boston Financial Mangement LLC now owns 452,489 shares of the company’s stock valued at $30,041,000 after buying an additional 2,269 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Ryan Specialty by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 11,940 shares of the company’s stock worth $792,000 after acquiring an additional 805 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Ryan Specialty during the third quarter worth about $753,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Insider Activity

In related news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $65.18, for a total value of $1,709,866.94. Following the transaction, the executive vice president now owns 24,845 shares in the company, valued at approximately $1,619,397.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 1,500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.02, for a total transaction of $97,530.00. Following the transaction, the director now directly owns 25,123 shares in the company, valued at $1,633,497.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $65.18, for a total value of $1,709,866.94. Following the sale, the executive vice president now owns 24,845 shares of the company’s stock, valued at approximately $1,619,397.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,107,136 shares of company stock worth $131,860,032 in the last three months. 11.10% of the stock is owned by insiders.

Ryan Specialty Stock Up 1.3 %

Ryan Specialty stock opened at $67.57 on Tuesday. The firm’s 50 day moving average price is $67.11 and its two-hundred day moving average price is $60.68. The firm has a market cap of $17.67 billion, a PE ratio of 87.75, a P/E/G ratio of 1.50 and a beta of 0.62. Ryan Specialty Holdings, Inc. has a twelve month low of $41.49 and a twelve month high of $73.10. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. The business had revenue of $604.69 million for the quarter, compared to the consensus estimate of $602.04 million. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. Ryan Specialty’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 earnings per share. On average, research analysts predict that Ryan Specialty Holdings, Inc. will post 1.81 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Tuesday, November 12th. Ryan Specialty’s dividend payout ratio (DPR) is presently 57.14%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Ryan Specialty from $56.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their target price on shares of Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. UBS Group lifted their price target on shares of Ryan Specialty from $67.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Bank of America raised their price objective on Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company boosted their target price on Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $70.33.

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.