Westfield Capital Management Co. LP Buys 201,582 Shares of Ryan Specialty Holdings Inc. $RYAN

Westfield Capital Management Co. LP increased its holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 18.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,279,815 shares of the company’s stock after acquiring an additional 201,582 shares during the period. Westfield Capital Management Co. LP owned about 0.49% of Ryan Specialty worth $87,015,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of RYAN. Ensign Peak Advisors Inc grew its position in Ryan Specialty by 36.1% during the second quarter. Ensign Peak Advisors Inc now owns 140,257 shares of the company’s stock worth $9,536,000 after buying an additional 37,210 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in shares of Ryan Specialty during the 2nd quarter valued at about $64,961,000. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Ryan Specialty by 1,972.5% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 540,589 shares of the company’s stock valued at $36,755,000 after buying an additional 514,505 shares in the last quarter. Intech Investment Management LLC boosted its stake in Ryan Specialty by 16.4% in the second quarter. Intech Investment Management LLC now owns 28,675 shares of the company’s stock worth $1,950,000 after buying an additional 4,033 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in Ryan Specialty by 9.9% during the second quarter. Cetera Investment Advisers now owns 14,446 shares of the company’s stock valued at $982,000 after acquiring an additional 1,306 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Patrick G. Ryan bought 276,634 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were bought at an average cost 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 52.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RYAN shares. Wolfe Research upgraded shares of Ryan Specialty to a “strong-buy” rating in a report on Tuesday, September 16th. Citigroup initiated coverage on Ryan Specialty in a research note on Wednesday, August 13th. They issued a “buy” rating and a $74.00 price target on the stock. Wells Fargo & Company raised their target price on shares of Ryan Specialty from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods decreased their price objective on shares of Ryan Specialty from $73.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Finally, Wall Street Zen upgraded shares of Ryan Specialty from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $68.07.

Ryan Specialty Trading Down 1.4%

Shares of NYSE RYAN opened at $56.14 on Thursday. The stock has a market cap of $14.81 billion, a P/E ratio of 121.63, a price-to-earnings-growth ratio of 1.59 and a beta of 0.62. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50-day moving average of $54.77 and a 200 day moving average of $60.91. Ryan Specialty Holdings Inc. has a 1 year low of $50.08 and a 1 year high of $77.16.

Ryan Specialty (NYSE:RYAN) last posted its earnings results on Thursday, October 30th. The company reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. Ryan Specialty had a net margin of 7.61% and a return on equity of 47.93%. The business had revenue of $754.58 million for the quarter, compared to analysts’ expectations of $742.35 million. During the same quarter in the prior year, the business earned $0.41 EPS. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, sell-side analysts expect that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, November 10th. Ryan Specialty’s payout ratio is 104.35%.

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.