Thrivent Financial for Lutherans Acquires 1,573 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Thrivent Financial for Lutherans increased its holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 5.7% during the fourth quarter, Holdings Channel reports. The firm owned 29,373 shares of the company’s stock after acquiring an additional 1,573 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Ryan Specialty were worth $1,917,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Ryan Specialty by 1.5% during the third quarter. State Street Corp now owns 3,273,093 shares of the company’s stock worth $217,301,000 after acquiring an additional 49,198 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Ryan Specialty by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 3,148,916 shares of the company’s stock valued at $209,058,000 after purchasing an additional 13,986 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Ryan Specialty by 115.2% during the 4th quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company’s stock valued at $117,619,000 after buying an additional 981,505 shares in the last quarter. Barclays PLC grew its holdings in shares of Ryan Specialty by 1.1% in the third quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock valued at $108,994,000 after purchasing an additional 17,267 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Ryan Specialty in the fourth quarter worth $94,484,000. 84.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Ryan Specialty news, EVP Brendan Martin Mulshine sold 30,000 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $69.30, for a total value of $2,079,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $65.99, for a total transaction of $2,309,650.00. Following the completion of the sale, the director now owns 35,609 shares in the company, valued at $2,349,837.91. This represents a 49.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 241,360 shares of company stock worth $16,006,428 over the last 90 days. Company insiders own 11.10% of the company’s stock.

Ryan Specialty Trading Up 0.2 %

Shares of NYSE RYAN opened at $72.98 on Friday. Ryan Specialty Holdings, Inc. has a twelve month low of $48.48 and a twelve month high of $75.97. The firm has a market cap of $19.11 billion, a PE ratio of 105.77, a price-to-earnings-growth ratio of 1.19 and a beta of 0.71. The business has a fifty day simple moving average of $68.74 and a two-hundred day simple moving average of $68.28. 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 released its quarterly earnings data on Thursday, February 20th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.02). Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The firm had revenue of $663.53 million during the quarter, compared to the consensus estimate of $658.80 million. Analysts expect that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were paid a $0.12 dividend. This is an increase from Ryan Specialty’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.48 dividend on an annualized basis and a yield of 0.66%. Ryan Specialty’s payout ratio is 69.57%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. UBS Group increased their price objective on shares of Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Morgan Stanley initiated coverage on Ryan Specialty in a report on Thursday, December 5th. They set an “overweight” rating and a $90.00 price target on the stock. Keefe, Bruyette & Woods lowered their price target on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. Royal Bank of Canada cut their price objective on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. Finally, Wells Fargo & Company increased their price objective on shares of Ryan Specialty from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Ryan Specialty presently has an average rating of “Hold” and a consensus price target of $75.27.

Ryan Specialty Company Profile

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.