Jennison Associates LLC Acquires 13,655 Shares of Ryan Specialty Holdings Inc. $RYAN

Jennison Associates LLC boosted its holdings in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,000,807 shares of the company’s stock after buying an additional 13,655 shares during the quarter. Jennison Associates LLC owned approximately 0.38% of Ryan Specialty worth $68,045,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Crossmark Global Holdings Inc. lifted its holdings in Ryan Specialty by 2.9% during the first quarter. Crossmark Global Holdings Inc. now owns 7,351 shares of the company’s stock valued at $543,000 after purchasing an additional 207 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Ryan Specialty by 281.6% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company’s stock valued at $25,000 after purchasing an additional 245 shares in the last quarter. Wallace Advisory Group LLC lifted its holdings in Ryan Specialty by 5.8% during the second quarter. Wallace Advisory Group LLC now owns 4,837 shares of the company’s stock valued at $357,000 after purchasing an additional 267 shares in the last quarter. State of Michigan Retirement System lifted its holdings in Ryan Specialty by 1.2% during the first quarter. State of Michigan Retirement System now owns 25,500 shares of the company’s stock valued at $1,884,000 after purchasing an additional 300 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in Ryan Specialty by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 29,800 shares of the company’s stock valued at $2,201,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Insiders Place Their Bets

In other Ryan Specialty news, Chairman Patrick G. Ryan purchased 276,634 shares of Ryan Specialty stock in a transaction that occurred on Friday, September 12th. The shares were bought at an average price of $51.84 per share, for a total transaction of $14,340,706.56. Following the completion of the transaction, the chairman owned 13,699,959 shares of the company’s stock, valued at approximately $710,205,874.56. This trade represents a 2.06% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 52.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Ryan Specialty from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. UBS Group lowered their price target on shares of Ryan Specialty from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Wall Street Zen raised shares of Ryan Specialty from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Ryan Specialty in a report on Wednesday, October 8th. Finally, Morgan Stanley lowered their target price on shares of Ryan Specialty from $68.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $71.08.

Ryan Specialty Trading Down 2.1%

Shares of RYAN opened at $50.86 on Thursday. The company’s fifty day moving average is $54.76 and its 200 day moving average is $62.23. Ryan Specialty Holdings Inc. has a fifty-two week low of $50.08 and a fifty-two week high of $77.16. The stock has a market capitalization of $13.41 billion, a PE ratio of 145.31, a P/E/G ratio of 1.43 and a beta of 0.63. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.01 and a current ratio of 1.01.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.66 earnings per share for the quarter, hitting the consensus estimate of $0.66. Ryan Specialty had a net margin of 6.81% and a return on equity of 48.70%. The company had revenue of $855.17 million for the quarter, compared to analysts’ expectations of $837.52 million. During the same quarter in the previous year, the business posted $0.58 earnings per share. Ryan Specialty’s quarterly revenue was up 23.0% on a year-over-year basis. Sell-side analysts expect that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current fiscal year.

About Ryan Specialty

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.