Fred Alger Management LLC Acquires 5,717 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Fred Alger Management LLC grew its holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 9.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,444 shares of the company’s stock after purchasing an additional 5,717 shares during the period. Fred Alger Management LLC’s holdings in Ryan Specialty were worth $4,071,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of RYAN. Barclays PLC raised its holdings in shares of Ryan Specialty by 1.1% during the third quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock valued at $108,994,000 after purchasing an additional 17,267 shares during the last quarter. Tidal Investments LLC raised its stake in Ryan Specialty by 30.4% during the 3rd quarter. Tidal Investments LLC now owns 12,255 shares of the company’s stock valued at $814,000 after buying an additional 2,858 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Ryan Specialty by 148.9% during the 3rd quarter. Principal Financial Group Inc. now owns 851,704 shares of the company’s stock valued at $56,545,000 after buying an additional 509,548 shares during the period. GAMMA Investing LLC boosted its stake in shares of Ryan Specialty by 38.1% in the 4th quarter. GAMMA Investing LLC now owns 1,725 shares of the company’s stock worth $111,000 after buying an additional 476 shares during the last quarter. Finally, Cooper Financial Group grew its holdings in shares of Ryan Specialty by 9.9% in the fourth quarter. Cooper Financial Group now owns 3,808 shares of the company’s stock worth $244,000 after acquiring an additional 342 shares during the period. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, EVP Brendan Martin Mulshine sold 30,000 shares of Ryan Specialty stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $69.30, for a total value of $2,079,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 11.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

RYAN has been the topic of several research reports. Royal Bank of Canada dropped their target price on 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 cut their target price on shares of Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. TD Cowen assumed coverage on shares of Ryan Specialty in a research report on Thursday, April 10th. They issued a “buy” rating and a $89.00 price target on the stock. Wells Fargo & Company reduced their price objective on Ryan Specialty from $69.00 to $66.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. Finally, Barclays lowered their target price on Ryan Specialty from $88.00 to $83.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.67.

Ryan Specialty Price Performance

Shares of Ryan Specialty stock opened at $70.08 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. Ryan Specialty Holdings, Inc. has a 52 week low of $52.34 and a 52 week high of $77.16. The stock’s 50-day simple moving average is $70.16 and its 200-day simple moving average is $68.74. The company has a market capitalization of $18.35 billion, a price-to-earnings ratio of 101.57, a PEG ratio of 1.19 and a beta of 0.68.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.39 earnings per share for the quarter, hitting the consensus estimate of $0.39. The business had revenue of $690.17 million during the quarter, compared to the consensus estimate of $680.80 million. Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 EPS. As a group, analysts expect that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.68%. Ryan Specialty’s dividend payout ratio is currently 141.18%.

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.