Police & Firemen s Retirement System of New Jersey Grows Stock Holdings in Ryan Specialty Holdings Inc. $RYAN

Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 7.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 39,806 shares of the company’s stock after purchasing an additional 2,649 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Ryan Specialty were worth $2,706,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. ProShare Advisors LLC lifted its position in shares of Ryan Specialty by 5.2% during the 2nd quarter. ProShare Advisors LLC now owns 4,772 shares of the company’s stock valued at $324,000 after acquiring an additional 238 shares during the period. Wealth Alliance LLC increased its stake in Ryan Specialty by 6.4% in the 2nd quarter. Wealth Alliance LLC now owns 4,371 shares of the company’s stock valued at $297,000 after purchasing an additional 263 shares in the last quarter. Wallace Advisory Group LLC raised its holdings in Ryan Specialty by 5.8% during the second quarter. Wallace Advisory Group LLC now owns 4,837 shares of the company’s stock worth $357,000 after purchasing an additional 267 shares during the last quarter. SVB Wealth LLC purchased a new stake in Ryan Specialty during the first quarter worth $26,000. Finally, State of Michigan Retirement System boosted its position in Ryan Specialty by 1.6% during the second quarter. State of Michigan Retirement System now owns 25,900 shares of the company’s stock worth $1,761,000 after purchasing an additional 400 shares in the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, Chairman Patrick G. Ryan acquired 276,634 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were acquired at an average price of $51.84 per share, for a total transaction of $14,340,706.56. Following the completion of the acquisition, the chairman directly owned 13,699,959 shares of the company’s stock, valued at $710,205,874.56. This trade represents a 2.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 52.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

RYAN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on Ryan Specialty from $64.00 to $63.00 and set an “underweight” rating for the company in a research report on Thursday, October 9th. Citigroup started coverage on shares of Ryan Specialty in a report on Wednesday, August 13th. They set a “buy” rating and a $74.00 target price for the company. Wells Fargo & Company lifted their target price on shares of Ryan Specialty from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Cantor Fitzgerald upgraded shares of Ryan Specialty to a “hold” rating in a research report on Wednesday, August 13th. Finally, The Goldman Sachs Group dropped their price objective on shares of Ryan Specialty from $71.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Ryan Specialty presently has a consensus rating of “Moderate Buy” and an average price target of $68.69.

Ryan Specialty Price Performance

NYSE:RYAN opened at $56.99 on Wednesday. Ryan Specialty Holdings Inc. has a 12-month low of $50.08 and a 12-month high of $77.16. The firm has a market cap of $15.03 billion, a price-to-earnings ratio of 123.89, a price-to-earnings-growth ratio of 1.58 and a beta of 0.62. The company’s 50-day moving average is $54.67 and its two-hundred day moving average is $60.94. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 2.72.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $754.58 million during the quarter, compared to analyst estimates of $742.35 million. Ryan Specialty had a net margin of 7.61% and a return on equity of 47.93%. The company’s revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 earnings per share. Research analysts expect that Ryan Specialty Holdings Inc. will post 2.29 EPS 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 issued a $0.12 dividend. The ex-dividend date is Monday, November 10th. This represents a $0.48 annualized dividend and a yield of 0.8%. Ryan Specialty’s payout ratio is 104.35%.

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.