Magnetar Financial LLC Acquires Shares of 13,394 Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Magnetar Financial LLC acquired a new stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,394 shares of the company’s stock, valued at approximately $859,000.

A number of other hedge funds also recently bought and sold shares of the business. Harvest Fund Management Co. Ltd acquired a new stake in Ryan Specialty in the 4th quarter valued at about $54,000. Xponance Inc. grew its stake in shares of Ryan Specialty by 3.8% in the 4th quarter. Xponance Inc. now owns 20,913 shares of the company’s stock valued at $1,342,000 after buying an additional 774 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Ryan Specialty by 5.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 29,373 shares of the company’s stock valued at $1,917,000 after buying an additional 1,573 shares during the period. Corient Private Wealth LLC grew its stake in shares of Ryan Specialty by 12.8% in the 4th quarter. Corient Private Wealth LLC now owns 18,103 shares of the company’s stock valued at $1,162,000 after buying an additional 2,055 shares during the period. Finally, Natixis Advisors LLC grew its stake in shares of Ryan Specialty by 95.9% in the 4th quarter. Natixis Advisors LLC now owns 59,649 shares of the company’s stock valued at $3,827,000 after buying an additional 29,204 shares during the period. Institutional investors and hedge funds own 84.82% of the company’s stock.

Insider Activity

In related news, EVP Brendan Martin Mulshine sold 30,000 shares of Ryan Specialty 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Nicholas Dominic Cortezi sold 10,485 shares of Ryan Specialty stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $65.12, for a total transaction of $682,783.20. Following the sale, the director now owns 11,109 shares in the company, valued at $723,418.08. This represents a 48.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 241,360 shares of company stock worth $16,006,428. 11.10% of the stock is currently owned by corporate insiders.

Ryan Specialty Price Performance

Ryan Specialty stock opened at $71.13 on Friday. The firm has a market cap of $18.63 billion, a PE ratio of 103.09, a price-to-earnings-growth ratio of 1.19 and a beta of 0.71. Ryan Specialty Holdings, Inc. has a 52-week low of $48.48 and a 52-week high of $75.97. 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 company’s 50 day moving average is $68.11 and its two-hundred day moving average is $67.96.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $658.80 million. On average, research analysts expect that Ryan Specialty Holdings, Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.67%. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Tuesday, March 4th. Ryan Specialty’s dividend payout ratio (DPR) is presently 69.57%.

Wall Street Analyst Weigh In

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

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.