Vise Technologies Inc. increased its position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN – Free Report) by 189.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,941 shares of the company’s stock after acquiring an additional 16,311 shares during the period. Vise Technologies Inc.’s holdings in Ryan Specialty were worth $923,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also made changes to their positions in the company. Vancity Investment Management Ltd acquired a new position in Ryan Specialty during the second quarter valued at approximately $621,000. Guardian Point Capital LP lifted its stake in Ryan Specialty by 15.0% during the first quarter. Guardian Point Capital LP now owns 575,000 shares of the company’s stock worth $19,400,000 after purchasing an additional 75,000 shares during the last quarter. Confluence Investment Management LLC boosted its holdings in shares of Ryan Specialty by 64.6% in the 3rd quarter. Confluence Investment Management LLC now owns 311,140 shares of the company’s stock valued at $11,512,000 after purchasing an additional 122,139 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Ryan Specialty by 34.8% in the 1st quarter. Bank of America Corp DE now owns 1,508,083 shares of the company’s stock valued at $50,883,000 after purchasing an additional 389,505 shares in the last quarter. Finally, Vulcan Value Partners LLC boosted its holdings in shares of Ryan Specialty by 20.0% in the 2nd quarter. Vulcan Value Partners LLC now owns 7,912,669 shares of the company’s stock valued at $298,782,000 after purchasing an additional 1,317,334 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.
Ryan Specialty Stock Performance
NYSE RYAN opened at $47.71 on Monday. The firm’s fifty day moving average price is $40.75 and its two-hundred day moving average price is $39.06. The stock has a market cap of $12.20 billion, a PE ratio of 58.90, a PEG ratio of 1.01 and a beta of 0.54. Ryan Specialty Holdings Inc. has a fifty-two week low of $29.28 and a fifty-two week high of $58.94. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.01 and a current ratio of 1.01.
Ryan Specialty (NYSE:RYAN – Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.02. Ryan Specialty had a net margin of 8.25% and a return on equity of 47.77%. The company had revenue of $789.96 million during the quarter, compared to the consensus estimate of $792.99 million. During the same period in the prior year, the business earned $0.47 earnings per share. On average, equities analysts expect that Ryan Specialty Holdings Inc. will post 2.18 EPS for the current fiscal year.
Ryan Specialty Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, November 10th will be given a dividend of $0.13 per share. The ex-dividend date is Tuesday, November 10th. This represents a $0.52 dividend on an annualized basis and a yield of 1.1%. Ryan Specialty’s payout ratio is currently 64.20%.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the company. Mizuho lowered their price target on Ryan Specialty from $43.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, October 7th. UBS Group reduced their price objective on Ryan Specialty from $55.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, November 2nd. Piper Sandler decreased their target price on Ryan Specialty from $48.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 6th. JPMorgan Chase & Co. lifted their target price on Ryan Specialty from $39.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, August 3rd. Finally, Wells Fargo & Company boosted their target price on Ryan Specialty from $41.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Monday, November 2nd. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Ryan Specialty has a consensus rating of “Hold” and a consensus price target of $52.15.
Read Our Latest Research Report on RYAN
Ryan Specialty Company Profile
Ryan Specialty is a specialty insurance organization that provides distribution, underwriting and related services to insurance brokers, agents and carriers. Its business includes wholesale brokerage, which helps insurance professionals place coverage for risks that may be difficult to insure in the standard market, and underwriting management services for specialty insurance products.
The company works across a range of property and casualty insurance lines, including professional liability, transportation, property, casualty and other specialty risks.
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