3,590 Shares in Ryan Specialty Holdings Inc. $RYAN Acquired by Praxis Investment Management Inc.

Praxis Investment Management Inc. purchased a new position in Ryan Specialty Holdings Inc. (NYSE:RYAN) in the second quarter, HoldingsChannel.com reports. The firm purchased 3,590 shares of the company’s stock, valued at approximately $244,000.

A number of other hedge funds also recently made changes to their positions in the company. Crossmark Global Holdings Inc. lifted its position in shares of Ryan Specialty by 2.9% during the first quarter. Crossmark Global Holdings Inc. now owns 7,351 shares of the company’s stock worth $543,000 after purchasing an additional 207 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Ryan Specialty by 281.6% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company’s stock worth $25,000 after buying an additional 245 shares during the period. State of Michigan Retirement System increased its stake in Ryan Specialty by 1.2% during the 1st quarter. State of Michigan Retirement System now owns 25,500 shares of the company’s stock worth $1,884,000 after buying an additional 300 shares during the period. Louisiana State Employees Retirement System lifted its holdings in Ryan Specialty by 1.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 29,800 shares of the company’s stock worth $2,201,000 after buying an additional 300 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in Ryan Specialty by 202.5% in the 1st quarter. Fifth Third Bancorp now owns 484 shares of the company’s stock valued at $36,000 after buying an additional 324 shares during the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Analysts Set New Price Targets

RYAN has been the topic of a number of analyst reports. Cantor Fitzgerald raised Ryan Specialty to a “hold” rating in a research report on Wednesday, August 13th. Wells Fargo & Company increased their price target on Ryan Specialty from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Morgan Stanley dropped their price objective on Ryan Specialty from $68.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. JPMorgan Chase & Co. cut their target price on Ryan Specialty from $64.00 to $63.00 and set an “underweight” rating on the stock in a research report on Thursday, October 9th. Finally, Citigroup started coverage on shares of Ryan Specialty in a research note on Wednesday, August 13th. They issued a “buy” rating and a $74.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.08.

Ryan Specialty Price Performance

NYSE RYAN opened at $52.87 on Monday. Ryan Specialty Holdings Inc. has a 52 week low of $50.08 and a 52 week high of $77.16. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.88. The stock has a market cap of $13.94 billion, a price-to-earnings ratio of 151.07, a price-to-earnings-growth ratio of 1.45 and a beta of 0.63. The company has a 50-day moving average price of $55.86 and a two-hundred day moving average price of $63.20.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.66 EPS for the quarter, meeting analysts’ consensus estimates of $0.66. The company had revenue of $855.17 million for the quarter, compared to analyst estimates of $837.52 million. Ryan Specialty had a return on equity of 48.70% and a net margin of 6.81%.The company’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period last year, the company earned $0.58 earnings per share. Analysts forecast that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current year.

Ryan Specialty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.48 annualized dividend and a yield of 0.9%. Ryan Specialty’s dividend payout ratio (DPR) is currently 137.14%.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, Chairman Patrick G. Ryan acquired 276,634 shares of the stock in a transaction dated Friday, September 12th. The shares were bought at an average price of $51.84 per share, with a total value of $14,340,706.56. Following the purchase, the chairman directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 52.21% 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.