14,760 Shares in Ryan Specialty Holdings, Inc. (NYSE:RYAN) Purchased by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC acquired a new stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 14,760 shares of the company’s stock, valued at approximately $947,000.

Several other large investors have also recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in shares of Ryan Specialty in the fourth quarter worth approximately $94,484,000. Norges Bank bought a new stake in shares of Ryan Specialty during the fourth quarter worth $78,358,000. Principal Financial Group Inc. boosted its stake in shares of Ryan Specialty by 115.2% during the fourth quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company’s stock valued at $117,619,000 after purchasing an additional 981,505 shares during the period. CIBC Private Wealth Group LLC grew its holdings in shares of Ryan Specialty by 6,911.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 785,928 shares of the company’s stock worth $48,036,000 after purchasing an additional 774,718 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Ryan Specialty by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 9,880,504 shares of the company’s stock valued at $633,933,000 after buying an additional 529,631 shares in the last quarter. Institutional investors own 84.82% of the company’s stock.

Ryan Specialty Stock Up 0.2 %

RYAN stock opened at $72.98 on Monday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s fifty day simple moving average is $68.74 and its 200-day simple moving average is $68.32. Ryan Specialty Holdings, Inc. has a 12 month low of $48.48 and a 12 month high of $75.97. The company has a market capitalization of $19.11 billion, a P/E ratio of 105.77, a price-to-earnings-growth ratio of 1.19 and a beta of 0.71.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The company had revenue of $663.53 million for the quarter, compared to analysts’ expectations of $658.80 million. As a group, equities research analysts forecast that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.66%. This is an increase from Ryan Specialty’s previous quarterly dividend of $0.11. Ryan Specialty’s dividend payout ratio is 69.57%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RYAN shares. Morgan Stanley started coverage on shares of Ryan Specialty in a research report on Thursday, December 5th. They set an “overweight” rating and a $90.00 target price on the stock. Keefe, Bruyette & Woods dropped their price target on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. UBS Group upped their price objective on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Wells Fargo & Company boosted their price target 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. Finally, Royal Bank of Canada reduced their price objective on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $75.27.

Insider Activity

In related news, Director Nicholas Dominic Cortezi sold 31,409 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $65.64, for a total transaction of $2,061,686.76. Following the completion of the transaction, the director now owns 2,697 shares in the company, valued at $177,031.08. This represents a 92.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brendan Martin Mulshine sold 30,000 shares of Ryan Specialty stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $69.30, for a total value of $2,079,000.00. The disclosure for this sale can be found here. Insiders have sold 241,360 shares of company stock worth $16,006,428 in the last ninety days. Company 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.