LGT Fund Management Co Ltd. Has $2.90 Million Position in Ryan Specialty Holdings Inc. $RYAN

LGT Fund Management Co Ltd. boosted its stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 14.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,600 shares of the company’s stock after acquiring an additional 5,335 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Ryan Specialty were worth $2,896,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in Ryan Specialty by 21.8% during the first quarter. GAMMA Investing LLC now owns 2,101 shares of the company’s stock worth $155,000 after acquiring an additional 376 shares in the last quarter. Hsbc Holdings PLC raised its stake in Ryan Specialty by 14.4% during the first quarter. Hsbc Holdings PLC now owns 4,182 shares of the company’s stock worth $309,000 after acquiring an additional 528 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Ryan Specialty by 3.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,215 shares of the company’s stock worth $902,000 after acquiring an additional 460 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Ryan Specialty during the first quarter worth $467,000. Finally, Wealth Alliance LLC bought a new stake in shares of Ryan Specialty during the first quarter worth $303,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on RYAN shares. Weiss Ratings restated a “hold (c-)” rating on shares of Ryan Specialty in a report on Saturday, September 27th. Wolfe Research upgraded Ryan Specialty to a “strong-buy” rating in a report on Tuesday, September 16th. Wells Fargo & Company upgraded Ryan Specialty from an “equal weight” rating to an “overweight” rating and set a $60.00 target price on the stock in a report on Wednesday, September 17th. Wall Street Zen upgraded Ryan Specialty from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. Finally, Cantor Fitzgerald upgraded Ryan Specialty to a “hold” rating in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ryan Specialty has a consensus rating of “Moderate Buy” and a consensus target price of $73.92.

Insider Buying and Selling

In other news, Chairman Patrick G. Ryan acquired 276,634 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was purchased 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 directly owned 13,699,959 shares in the company, valued at $710,205,874.56. This trade represents a 2.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 52.21% of the stock is currently owned by insiders.

Ryan Specialty Price Performance

Shares of RYAN stock opened at $57.84 on Friday. The stock has a 50-day moving average price of $56.67 and a 200 day moving average price of $64.53. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.88. The firm has a market cap of $15.25 billion, a price-to-earnings ratio of 165.26, a PEG ratio of 1.55 and a beta of 0.63. Ryan Specialty Holdings Inc. has a 12 month low of $50.08 and a 12 month high of $77.16.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.66 EPS for the quarter, hitting analysts’ consensus estimates of $0.66. The firm had revenue of $855.17 million during the quarter, compared to analyst estimates of $837.52 million. Ryan Specialty had a return on equity of 48.70% and a net margin of 6.81%.The company’s revenue was up 23.0% on a year-over-year basis. During the same period last year, the company earned $0.58 earnings per share. Research analysts expect 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 was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, August 12th. Ryan Specialty’s dividend payout ratio (DPR) is presently 137.14%.

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.