Walleye Capital LLC Purchases 57,413 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Walleye Capital LLC raised its position in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 294.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 76,903 shares of the company’s stock after acquiring an additional 57,413 shares during the period. Walleye Capital LLC’s holdings in Ryan Specialty were worth $5,106,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Ryan Specialty by 0.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 262,166 shares of the company’s stock worth $17,405,000 after purchasing an additional 935 shares in the last quarter. FORA Capital LLC raised its stake in Ryan Specialty by 6.0% during the 3rd quarter. FORA Capital LLC now owns 17,618 shares of the company’s stock valued at $1,170,000 after buying an additional 992 shares during the last quarter. Bridgewater Associates LP purchased a new stake in Ryan Specialty during the 3rd quarter valued at $1,265,000. FMR LLC raised its stake in Ryan Specialty by 72.3% during the 3rd quarter. FMR LLC now owns 12,875 shares of the company’s stock valued at $855,000 after buying an additional 5,402 shares during the last quarter. Finally, Quantbot Technologies LP increased its stake in shares of Ryan Specialty by 34.8% in the 3rd quarter. Quantbot Technologies LP now owns 107,418 shares of the company’s stock worth $7,131,000 after purchasing an additional 27,732 shares in the last quarter. 84.82% of the stock is owned by institutional investors.

Ryan Specialty Stock Performance

Shares of NYSE:RYAN opened at $75.40 on Monday. The firm has a market cap of $19.74 billion, a PE ratio of 97.92, a price-to-earnings-growth ratio of 1.71 and a beta of 0.62. The firm’s 50 day simple moving average is $70.23 and its 200-day simple moving average is $63.34. Ryan Specialty Holdings, Inc. has a one year low of $41.49 and a one year high of $75.97. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. The company had revenue of $604.69 million for the quarter, compared to analyst estimates of $602.04 million. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. Ryan Specialty’s revenue was up 20.5% compared to the same quarter last year. During the same period last year, the company posted $0.32 earnings per share. As a group, equities analysts predict that Ryan Specialty Holdings, Inc. will post 1.8 EPS for the current year.

Ryan Specialty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.44 annualized dividend and a yield of 0.58%. Ryan Specialty’s dividend payout ratio (DPR) is 57.14%.

Insider Buying and Selling at Ryan Specialty

In related news, Director David P. Bolger sold 7,055 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 78,149 shares of the company’s stock, valued at $5,539,201.12. This trade represents a 8.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark Stephen Katz sold 14,790 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $884,236.54. This trade represents a 54.42 % decrease in their position. The disclosure for this sale can be found here. 11.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Barclays upped their price objective on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. BMO Capital Markets raised shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $65.00 to $75.00 in a report on Tuesday, September 24th. Bank of America increased their price objective on shares of Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company increased their price target on shares of Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Finally, UBS Group increased their price target on shares of Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Ryan Specialty presently has an average rating of “Hold” and a consensus price target of $71.67.

Ryan Specialty 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.