Tidal Investments LLC Has $814,000 Stock Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Tidal Investments LLC lifted its holdings in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 30.4% during the third quarter, Holdings Channel.com reports. The firm owned 12,255 shares of the company’s stock after acquiring an additional 2,858 shares during the quarter. Tidal Investments LLC’s holdings in Ryan Specialty were worth $814,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. raised its position in Ryan Specialty by 148.9% during the 3rd quarter. Principal Financial Group Inc. now owns 851,704 shares of the company’s stock worth $56,545,000 after purchasing an additional 509,548 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Ryan Specialty by 132.2% in the second quarter. Bank of New York Mellon Corp now owns 836,209 shares of the company’s stock valued at $48,425,000 after buying an additional 476,126 shares during the period. Jennison Associates LLC raised its position in shares of Ryan Specialty by 60.2% during the third quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock worth $68,054,000 after acquiring an additional 385,366 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in shares of Ryan Specialty by 32.1% in the third quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company’s stock worth $98,555,000 after acquiring an additional 335,180 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Ryan Specialty by 43.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 938,187 shares of the company’s stock valued at $62,286,000 after acquiring an additional 286,380 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Insiders Place Their Bets

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 35,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $67.39, for a total transaction of $2,358,650.00. Following the transaction, the director now directly owns 65,100 shares in the company, valued at approximately $4,387,089. This trade represents a 34.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Stephen Katz sold 14,790 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the completion of the sale, the executive vice president now owns 12,386 shares of the company’s stock, valued at approximately $884,236.54. The trade was a 54.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,845 shares of company stock worth $6,249,417. Insiders own 11.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on RYAN. Wells Fargo & Company raised their price target on shares of Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Bank of America lifted their target price on shares of Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. The Goldman Sachs Group upped their price target on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Morgan Stanley assumed coverage on Ryan Specialty in a research report on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price objective for the company. Finally, BMO Capital Markets upgraded Ryan Specialty from a “market perform” rating to an “outperform” rating and upped their target price for the company from $65.00 to $75.00 in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $73.50.

Ryan Specialty Price Performance

RYAN stock opened at $64.01 on Friday. Ryan Specialty Holdings, Inc. has a 1 year low of $41.57 and a 1 year high of $75.97. The stock has a market capitalization of $16.76 billion, a PE ratio of 83.13, a price-to-earnings-growth ratio of 1.52 and a beta of 0.67. The company’s 50-day moving average is $70.23 and its 200-day moving average is $64.75. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.41. The business had revenue of $604.69 million for the quarter, compared to analyst estimates of $602.04 million. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The company’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 earnings per share. Equities research analysts expect that Ryan Specialty Holdings, Inc. will post 1.82 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.11 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.44 dividend on an annualized basis and a yield of 0.69%. Ryan Specialty’s dividend payout ratio (DPR) is presently 57.14%.

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.