Cornerstone Investment Partners LLC Increases Holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Cornerstone Investment Partners LLC lifted its position in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 3.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,311 shares of the company’s stock after buying an additional 343 shares during the period. Cornerstone Investment Partners LLC’s holdings in Ryan Specialty were worth $597,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RYAN. Sanctuary Advisors LLC boosted its position in Ryan Specialty by 1.2% during the fourth quarter. Sanctuary Advisors LLC now owns 15,690 shares of the company’s stock valued at $1,045,000 after buying an additional 188 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Ryan Specialty by 1.6% in the 4th quarter. State of Alaska Department of Revenue now owns 12,130 shares of the company’s stock valued at $778,000 after acquiring an additional 190 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Ryan Specialty by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 3,674 shares of the company’s stock valued at $236,000 after acquiring an additional 196 shares during the period. Loomis Sayles & Co. L P grew its position in Ryan Specialty by 26.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,373 shares of the company’s stock worth $91,000 after acquiring an additional 286 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its position in Ryan Specialty by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 11,760 shares of the company’s stock worth $755,000 after acquiring an additional 295 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company raised their price target 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. Barclays raised their price target on shares of Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Royal Bank of Canada decreased 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 report on Friday, February 21st. Keefe, Bruyette & Woods dropped their target price on shares of Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating for the company in a report on Friday, February 21st. Finally, UBS Group increased their target price on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. One equities 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $75.27.

Ryan Specialty Price Performance

RYAN stock opened at $69.38 on Tuesday. Ryan Specialty Holdings, Inc. has a 1 year low of $48.48 and a 1 year high of $75.97. The company has a market cap of $18.17 billion, a P/E ratio of 100.55, a PEG ratio of 1.19 and a beta of 0.72. The firm has a 50-day moving average of $66.13 and a 200 day moving average of $67.47. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $658.80 million. On average, sell-side analysts forecast 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 will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.12 per share. This is an increase from Ryan Specialty’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.69%. Ryan Specialty’s dividend payout ratio (DPR) is currently 69.57%.

Insider Buying and Selling at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 29,466 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $2,954,309.54. This trade represents a 39.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders sold 316,451 shares of company stock valued at $20,907,793. Corporate insiders own 11.10% of the company’s stock.

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.