Comerica Bank Purchases 177,517 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Comerica Bank boosted its holdings in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 562.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 209,079 shares of the company’s stock after buying an additional 177,517 shares during the period. Comerica Bank owned approximately 0.08% of Ryan Specialty worth $13,415,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RYAN. Rakuten Securities Inc. bought a new position in shares of Ryan Specialty in the fourth quarter worth approximately $27,000. Kapitalo Investimentos Ltda bought a new stake in shares of Ryan Specialty during the 4th quarter worth $36,000. Principal Securities Inc. grew its position in Ryan Specialty by 164.7% in the fourth quarter. Principal Securities Inc. now owns 667 shares of the company’s stock worth $43,000 after acquiring an additional 415 shares in the last quarter. Mizuho Bank Ltd. bought a new position in Ryan Specialty in the fourth quarter valued at $49,000. Finally, Headlands Technologies LLC boosted its holdings in shares of Ryan Specialty by 2,644.8% in the 4th quarter. Headlands Technologies LLC now owns 796 shares of the company’s stock worth $51,000 after purchasing an additional 767 shares in the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, EVP Brendan Martin Mulshine sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $69.30, for a total transaction of $2,079,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 11.10% of the company’s stock.

Ryan Specialty Trading Up 3.4 %

Shares of RYAN opened at $67.02 on Friday. Ryan Specialty Holdings, Inc. has a 1-year low of $48.85 and a 1-year high of $77.16. The firm has a market capitalization of $17.55 billion, a price-to-earnings ratio of 97.13, a PEG ratio of 1.19 and a beta of 0.66. The firm’s 50-day moving average price is $70.17 and its 200-day moving average price is $68.74. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40.

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

Ryan Specialty Dividend Announcement

The company also recently disclosed 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 0.72%. Ryan Specialty’s dividend payout ratio (DPR) is 69.57%.

Wall Street Analyst Weigh In

A number of brokerages have commented on RYAN. TD Cowen began coverage on shares of Ryan Specialty in a research report on Thursday, April 10th. They set a “buy” rating and a $89.00 price target on the stock. Wells Fargo & Company cut their price target on shares of Ryan Specialty from $69.00 to $66.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. Royal Bank of Canada decreased their price objective on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. UBS Group increased their target price on Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Finally, Barclays decreased their price target on Ryan Specialty from $88.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $75.67.

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.