Edgestream Partners L.P. Purchases New Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Edgestream Partners L.P. acquired a new position in Ryan Specialty Holdings, Inc. (NYSE:RYAN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 50,935 shares of the company’s stock, valued at approximately $3,268,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its stake in shares of Ryan Specialty by 11.8% in the third quarter. Janney Montgomery Scott LLC now owns 16,994 shares of the company’s stock worth $1,128,000 after purchasing an additional 1,799 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Ryan Specialty by 148.9% in the 3rd quarter. Principal Financial Group Inc. now owns 851,704 shares of the company’s stock worth $56,545,000 after buying an additional 509,548 shares in the last quarter. Hollencrest Capital Management purchased a new position in Ryan Specialty in the 3rd quarter worth about $25,000. CWA Asset Management Group LLC bought a new position in Ryan Specialty during the 3rd quarter valued at about $248,000. Finally, Executive Wealth Management LLC boosted its holdings in shares of Ryan Specialty by 96.4% during the 3rd quarter. Executive Wealth Management LLC now owns 8,383 shares of the company’s stock valued at $557,000 after acquiring an additional 4,115 shares during the last quarter. 84.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on RYAN. Morgan Stanley started coverage on shares of Ryan Specialty in a report on Thursday, December 5th. They set an “overweight” rating and a $90.00 price objective for the company. UBS Group boosted their target price on shares of Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Barclays raised their price target on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Royal Bank of Canada cut their price objective on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. Finally, Keefe, Bruyette & Woods lowered their target price on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $75.27.

Ryan Specialty Stock Up 0.1 %

NYSE RYAN opened at $69.31 on Friday. Ryan Specialty Holdings, Inc. has a 52 week low of $48.48 and a 52 week high of $75.97. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $18.15 billion, a P/E ratio of 100.45, a price-to-earnings-growth ratio of 1.19 and a beta of 0.71. The stock’s 50-day moving average price is $66.57 and its 200-day moving average price is $67.59.

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

Ryan Specialty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.12 per share. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, March 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.69%. Ryan Specialty’s payout ratio is 69.57%.

Insider Buying and Selling

In related news, Director Nicholas Dominic Cortezi sold 29,466 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $65.06, for a total value of $1,917,057.96. Following the transaction, the director now directly owns 45,409 shares of the company’s stock, valued at approximately $2,954,309.54. The trade was a 39.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 316,451 shares of company stock valued at $20,907,793. 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.