Alberta Investment Management Corp Purchases Shares of 8,985 Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Alberta Investment Management Corp purchased a new stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) in the 4th quarter, Holdings Channel reports. The fund purchased 8,985 shares of the company’s stock, valued at approximately $576,000.

Other hedge funds have also added to or reduced their stakes in the company. Truist Financial Corp lifted its holdings in shares of Ryan Specialty by 7.2% during the fourth quarter. Truist Financial Corp now owns 5,688 shares of the company’s stock worth $365,000 after buying an additional 381 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Ryan Specialty by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 3,674 shares of the company’s stock worth $236,000 after buying an additional 196 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Ryan Specialty by 1.2% during the fourth quarter. Sanctuary Advisors LLC now owns 15,690 shares of the company’s stock worth $1,045,000 after buying an additional 188 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Ryan Specialty by 115.2% during the fourth quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company’s stock worth $117,619,000 after buying an additional 981,505 shares in the last quarter. Finally, Principal Securities Inc. lifted its holdings in shares of Ryan Specialty by 164.7% during the fourth quarter. Principal Securities Inc. now owns 667 shares of the company’s stock worth $43,000 after buying an additional 415 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RYAN. Wells Fargo & Company lifted 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. Keefe, Bruyette & Woods dropped their target price on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating for the company in a report on Friday. Barclays boosted 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. 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 research note on Friday. Finally, Morgan Stanley initiated coverage on Ryan Specialty in a research note on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price target for the company. One investment 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. According to MarketBeat.com, Ryan Specialty presently has a consensus rating of “Hold” and an average price target of $74.55.

Ryan Specialty Stock Performance

Ryan Specialty stock opened at $65.55 on Friday. Ryan Specialty Holdings, Inc. has a 12-month low of $45.72 and a 12-month 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 business’s 50-day moving average price is $65.57 and its two-hundred day moving average price is $67.28. The stock has a market cap of $17.16 billion, a PE ratio of 95.00, a P/E/G ratio of 1.19 and a beta of 0.72.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Thursday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, analysts expect that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.12 per share. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend is Tuesday, March 4th. Ryan Specialty’s payout ratio is 63.77%.

Insider Transactions at Ryan Specialty

In other news, Director Nicholas Dominic Cortezi sold 35,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $66.71, for a total transaction of $2,334,850.00. Following the sale, the director now directly owns 60,200 shares in the company, valued at approximately $4,015,942. The trade was a 36.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 316,451 shares of company stock worth $20,907,793. Insiders own 11.10% of the company’s stock.

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.