Ryan Specialty Holdings Inc. $RYAN Stock Holdings Decreased by Bank of Montreal Can

Bank of Montreal Can lessened its position in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 23.6% in the 2nd quarter, Holdings Channel reports. The fund owned 22,155 shares of the company’s stock after selling 6,843 shares during the period. Bank of Montreal Can’s holdings in Ryan Specialty were worth $1,506,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RYAN. Whittier Trust Co. of Nevada Inc. raised its stake in Ryan Specialty by 281.6% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company’s stock valued at $25,000 after purchasing an additional 245 shares during the period. SVB Wealth LLC purchased a new position in shares of Ryan Specialty during the first quarter valued at $26,000. WPG Advisers LLC acquired a new position in Ryan Specialty during the first quarter valued at $32,000. Central Pacific Bank Trust Division purchased a new stake in Ryan Specialty in the 2nd quarter worth about $31,000. Finally, Quarry LP boosted its position in Ryan Specialty by 977.8% during the 1st quarter. Quarry LP now owns 582 shares of the company’s stock worth $43,000 after acquiring an additional 528 shares during the period. Institutional investors and hedge funds own 84.82% of the company’s stock.

Ryan Specialty Stock Down 0.8%

Shares of RYAN stock opened at $56.79 on Friday. Ryan Specialty Holdings Inc. has a one year low of $50.08 and a one year high of $77.16. 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 stock has a fifty day moving average price of $54.49 and a 200 day moving average price of $61.19. The stock has a market cap of $14.98 billion, a P/E ratio of 123.46, a price-to-earnings-growth ratio of 1.61 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. Ryan Specialty had a net margin of 7.61% and a return on equity of 47.93%. The company had revenue of $754.58 million during the quarter, compared to analysts’ expectations of $742.35 million. During the same quarter in the prior year, the company posted $0.41 EPS. The business’s revenue was up 24.8% on a year-over-year basis. Analysts predict that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th will be paid a dividend of $0.12 per share. The ex-dividend date is Monday, November 10th. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. Ryan Specialty’s dividend payout ratio (DPR) is currently 104.35%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RYAN. Wolfe Research raised shares of Ryan Specialty to a “strong-buy” rating in a research report on Tuesday, September 16th. Citigroup initiated coverage on shares of Ryan Specialty in a research note on Wednesday, August 13th. They set a “buy” rating and a $74.00 target price for the company. Wells Fargo & Company upped their target price on Ryan Specialty from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Barclays reaffirmed an “overweight” rating and issued a $70.00 price objective on shares of Ryan Specialty in a research note on Wednesday, October 8th. Finally, Morgan Stanley lowered their price target on Ryan Specialty from $68.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.54.

Insiders Place Their Bets

In related news, Chairman Patrick G. Ryan acquired 276,634 shares of the stock in a transaction dated 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 purchase, the chairman owned 13,699,959 shares in the company, valued at approximately $710,205,874.56. This trade represents a 2.06% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 52.21% of the company’s stock.

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.