Ryan Specialty Holdings, Inc. (NYSE:RYAN) Shares Bought by Millennium Management LLC

Millennium Management LLC grew its holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 1,111.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,174,086 shares of the company’s stock after buying an additional 1,077,169 shares during the quarter. Millennium Management LLC owned 0.45% of Ryan Specialty worth $75,329,000 as of its most recent SEC filing.

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

Insider Activity

In related news, EVP Brendan Martin Mulshine sold 30,000 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $69.30, for a total value of $2,079,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 11.10% of the company’s stock.

Wall Street Analyst Weigh In

RYAN has been the subject of a number of research reports. TD Cowen initiated coverage on shares of Ryan Specialty in a report on Thursday, April 10th. They set a “buy” rating and a $89.00 target price for the company. Wells Fargo & Company dropped their price objective on shares of Ryan Specialty from $69.00 to $66.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. The Goldman Sachs Group upgraded shares of Ryan Specialty from a “neutral” rating to a “buy” rating and increased their price objective for the company from $74.00 to $81.00 in a report on Tuesday. Barclays lowered their target price on Ryan Specialty from $88.00 to $83.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Finally, Royal Bank of Canada cut their price target on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $76.42.

Ryan Specialty Price Performance

NYSE:RYAN opened at $69.89 on Friday. Ryan Specialty Holdings, Inc. has a 52 week low of $52.34 and a 52 week high of $77.16. The stock’s fifty day moving average is $70.12 and its two-hundred day moving average is $68.72. The company has a market capitalization of $18.34 billion, a P/E ratio of 101.29, a P/E/G ratio of 1.19 and a beta of 0.68. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40.

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

Ryan Specialty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Tuesday, May 13th. Ryan Specialty’s dividend payout ratio (DPR) is 141.18%.

About Ryan Specialty

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.