Magnetar Financial LLC Makes New $859,000 Investment in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Magnetar Financial LLC acquired a new position in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 13,394 shares of the company’s stock, valued at approximately $859,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of RYAN. CIBC Asset Management Inc purchased a new position in Ryan Specialty during the 3rd quarter worth $231,000. Natixis Advisors LLC purchased a new position in Ryan Specialty during the 3rd quarter worth $2,021,000. Intech Investment Management LLC grew its position in Ryan Specialty by 61.8% during the 3rd quarter. Intech Investment Management LLC now owns 16,544 shares of the company’s stock worth $1,098,000 after purchasing an additional 6,316 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Ryan Specialty by 43.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 938,187 shares of the company’s stock worth $62,286,000 after purchasing an additional 286,380 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its position in Ryan Specialty by 32.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company’s stock worth $98,555,000 after purchasing an additional 335,180 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Ryan Specialty Stock Down 0.8 %

RYAN stock opened at $71.13 on Friday. The company has a market cap of $18.63 billion, a P/E ratio of 103.09, a P/E/G ratio of 1.19 and a beta of 0.71. Ryan Specialty Holdings, Inc. has a 52 week low of $48.48 and a 52 week high of $75.97. The company’s 50-day moving average price is $68.11 and its 200 day moving average price is $67.96. The company has a current ratio of 1.01, a quick 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The business had revenue of $663.53 million for the quarter, compared to analyst estimates of $658.80 million. Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. On average, research analysts expect that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current fiscal 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 given a dividend of $0.12 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.11. Ryan Specialty’s payout ratio is presently 69.57%.

Wall Street Analysts Forecast Growth

RYAN has been the topic of several analyst reports. Royal Bank of Canada lowered their target price on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. Wells Fargo & Company lifted their target price on shares of Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, February 21st. Morgan Stanley initiated coverage on shares of Ryan Specialty in a report on Thursday, December 5th. They issued an “overweight” rating and a $90.00 target price on the stock. UBS Group lifted their target price on shares of Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ryan Specialty presently has an average rating of “Hold” and a consensus target price of $75.27.

Insiders Place Their Bets

In other news, EVP Brendan Martin Mulshine sold 30,000 shares of the business’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nicholas Dominic Cortezi sold 29,466 shares of the business’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 transaction, the director now directly owns 45,409 shares of the company’s stock, valued at approximately $2,954,309.54. This represents a 39.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 241,360 shares of company stock worth $16,006,428. Insiders own 11.10% of the company’s stock.

Ryan Specialty 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.