Teachers Retirement System of The State of Kentucky Purchases 10,460 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Teachers Retirement System of The State of Kentucky raised its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 51.5% during the third quarter, HoldingsChannel reports. The firm owned 30,760 shares of the company’s stock after buying an additional 10,460 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Ryan Specialty were worth $2,042,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Executive Wealth Management LLC raised its holdings in shares of Ryan Specialty by 96.4% in the third quarter. Executive Wealth Management LLC now owns 8,383 shares of the company’s stock worth $557,000 after buying an additional 4,115 shares during the period. Barclays PLC grew its stake in Ryan Specialty by 1.1% in the third quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock worth $108,994,000 after purchasing an additional 17,267 shares in the last quarter. XTX Topco Ltd bought a new position in Ryan Specialty in the third quarter worth approximately $306,000. State Street Corp grew its stake in Ryan Specialty by 1.5% in the third quarter. State Street Corp now owns 3,273,093 shares of the company’s stock worth $217,301,000 after purchasing an additional 49,198 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new position in Ryan Specialty in the third quarter worth approximately $888,000. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on RYAN. BMO Capital Markets raised Ryan Specialty from a “market perform” rating to an “outperform” rating and increased their target price for the company from $65.00 to $75.00 in a research report on Tuesday, September 24th. Morgan Stanley started coverage on Ryan Specialty in a research note on Thursday, December 5th. They issued an “overweight” rating and a $90.00 target price for the company. Wells Fargo & Company lifted their price objective on Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Bank of America lifted their price objective on Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Barclays lifted their price target on Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $73.50.

Ryan Specialty Trading Down 1.7 %

RYAN stock opened at $66.45 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. Ryan Specialty Holdings, Inc. has a 12-month low of $41.57 and a 12-month high of $75.97. The stock has a market cap of $17.40 billion, a price-to-earnings ratio of 86.30, a PEG ratio of 1.52 and a beta of 0.67. The business’s 50-day moving average is $70.80 and its 200 day moving average is $64.64.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.41. The company had revenue of $604.69 million for the quarter, compared to analysts’ expectations of $602.04 million. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. Ryan Specialty’s revenue was up 20.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 EPS. On average, sell-side analysts anticipate that Ryan Specialty Holdings, Inc. will post 1.82 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Tuesday, November 12th. Ryan Specialty’s dividend payout ratio is currently 57.14%.

Insider Transactions at Ryan Specialty

In other news, EVP Mark Stephen Katz sold 14,790 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the transaction, the executive vice president now directly owns 12,386 shares in the company, valued at $884,236.54. The trade was a 54.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David P. Bolger sold 7,055 shares of Ryan Specialty stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $70.88, for a total transaction of $500,058.40. Following the sale, the director now directly owns 78,149 shares in the company, valued at approximately $5,539,201.12. The trade was a 8.28 % decrease in their position. The disclosure for this sale can be found here. Insiders own 11.10% of the company’s stock.

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.