Greenup Street Wealth Management LLC Makes New Investment in Ryan Specialty Holdings Inc. $RYAN

Greenup Street Wealth Management LLC purchased a new stake in Ryan Specialty Holdings Inc. (NYSE:RYAN) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 7,701 shares of the company’s stock, valued at approximately $524,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. lifted its holdings in Ryan Specialty by 281.6% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company’s stock worth $25,000 after buying an additional 245 shares in the last quarter. SVB Wealth LLC bought a new position in Ryan Specialty in the 1st quarter worth about $26,000. Central Pacific Bank Trust Division bought a new position in shares of Ryan Specialty in the second quarter valued at approximately $31,000. WPG Advisers LLC acquired a new stake in Ryan Specialty during the first quarter valued at approximately $32,000. Finally, Golden State Wealth Management LLC acquired a new stake in Ryan Specialty during the first quarter valued at approximately $35,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Patrick G. Ryan bought 276,634 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was acquired at an average price of $51.84 per share, with a total value of $14,340,706.56. Following the transaction, the chairman 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 52.21% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on RYAN. Wolfe Research upgraded shares of Ryan Specialty to a “strong-buy” rating in a research note on Tuesday, September 16th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ryan Specialty in a research note on Wednesday, October 8th. Wells Fargo & Company increased their price target on shares of Ryan Specialty from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price objective on shares of Ryan Specialty from $64.00 to $63.00 and set an “underweight” rating for the company in a report on Thursday, October 9th. Finally, UBS Group cut their price target on shares of Ryan Specialty from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $71.08.

Ryan Specialty Stock Performance

Shares of RYAN stock opened at $52.52 on Tuesday. The firm has a market cap of $13.85 billion, a PE ratio of 150.06, a P/E/G ratio of 1.45 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. The company’s fifty day simple moving average is $55.73 and its 200-day simple moving average is $63.07. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.88.

Ryan Specialty (NYSE:RYAN) last issued its earnings results on Thursday, July 31st. The company reported $0.66 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.66. Ryan Specialty had a net margin of 6.81% and a return on equity of 48.70%. The business had revenue of $855.17 million for the quarter, compared to the consensus estimate of $837.52 million. During the same period in the previous year, the company earned $0.58 earnings per share. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. Equities research analysts expect that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.9%. Ryan Specialty’s dividend payout ratio is currently 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.