Wellington Management Group LLP Invests $29.60 Million in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Wellington Management Group LLP bought a new stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 461,333 shares of the company’s stock, valued at approximately $29,599,000. Wellington Management Group LLP owned 0.18% of Ryan Specialty as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC boosted its holdings in Ryan Specialty by 72.3% during the third quarter. FMR LLC now owns 12,875 shares of the company’s stock valued at $855,000 after purchasing an additional 5,402 shares in the last quarter. Captrust Financial Advisors boosted its stake in Ryan Specialty by 9.3% in the 3rd quarter. Captrust Financial Advisors now owns 9,405 shares of the company’s stock valued at $624,000 after buying an additional 798 shares in the last quarter. Verition Fund Management LLC boosted its stake in Ryan Specialty by 40.5% in the 3rd quarter. Verition Fund Management LLC now owns 11,774 shares of the company’s stock valued at $782,000 after buying an additional 3,396 shares in the last quarter. HighTower Advisors LLC grew its position in Ryan Specialty by 101.6% in the third quarter. HighTower Advisors LLC now owns 39,969 shares of the company’s stock valued at $2,661,000 after acquiring an additional 20,139 shares during the period. Finally, Quarry LP lifted its holdings in shares of Ryan Specialty by 109.3% during the third quarter. Quarry LP now owns 808 shares of the company’s stock valued at $54,000 after acquiring an additional 422 shares during the period. Institutional investors own 84.82% of the company’s stock.

Insider Transactions at Ryan Specialty

In other news, Director Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock in a transaction on 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 transaction, the director now directly owns 35,609 shares of the company’s stock, valued at $2,349,837.91. This trade represents a 49.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brendan Martin Mulshine sold 30,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $69.30, for a total transaction of $2,079,000.00. The disclosure for this sale can be found here. Insiders have sold 241,360 shares of company stock worth $16,006,428 in the last three months. Insiders own 11.10% of the company’s stock.

Ryan Specialty Price Performance

Ryan Specialty stock opened at $70.55 on Monday. The business’s 50-day simple moving average is $69.60 and its 200 day simple moving average is $68.68. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. The stock has a market cap of $18.48 billion, a price-to-earnings ratio of 102.25, a P/E/G ratio of 1.19 and a beta of 0.66. Ryan Specialty Holdings, Inc. has a 12-month low of $48.48 and a 12-month high of $77.16.

Ryan Specialty (NYSE:RYAN) last issued its earnings results on Thursday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.02). The business had revenue of $663.53 million during the quarter, compared to the consensus estimate of $658.80 million. Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. As a group, research analysts anticipate that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.12 per share. This is a boost 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 annualized dividend and a dividend yield of 0.68%. Ryan Specialty’s payout ratio is presently 69.57%.

Analysts Set New Price Targets

RYAN has been the topic of several analyst reports. UBS Group upped their target price on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Keefe, Bruyette & Woods dropped their price objective on shares of Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating for the company in a report on Friday, February 21st. Wells Fargo & Company boosted their target price on Ryan Specialty from $64.00 to $69.00 and gave the stock an “equal weight” rating in a report on Friday, February 21st. Finally, Royal Bank of Canada dropped their price target on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.