Commonwealth Equity Services LLC Has $2.68 Million Stock Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Commonwealth Equity Services LLC raised its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 815.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,242 shares of the company’s stock after buying an additional 42,971 shares during the period. Commonwealth Equity Services LLC’s holdings in Ryan Specialty were worth $2,677,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Ryan Specialty in the first quarter worth approximately $45,000. Cornerstone Investment Partners LLC acquired a new position in shares of Ryan Specialty in the 1st quarter valued at about $293,000. Intelligent Financial Strategies acquired a new stake in shares of Ryan Specialty during the 1st quarter worth approximately $44,000. SYSTM Wealth Solutions LLC grew its stake in shares of Ryan Specialty by 43.1% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 69,047 shares of the company’s stock valued at $3,832,000 after buying an additional 20,809 shares during the period. Finally, Bar Harbor Wealth Management acquired a new position in shares of Ryan Specialty during the first quarter worth approximately $3,508,000. Institutional investors own 84.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. JMP Securities reaffirmed a “market perform” rating on shares of Ryan Specialty in a research report on Monday, April 15th. Wolfe Research downgraded shares of Ryan Specialty from an “outperform” rating to a “peer perform” rating in a report on Monday, May 6th. Wells Fargo & Company increased their price objective on shares of Ryan Specialty from $57.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $62.00 target price on shares of Ryan Specialty in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price objective on Ryan Specialty from $47.00 to $49.00 and gave the company an “underweight” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $55.67.

Ryan Specialty Trading Up 0.1 %

NYSE RYAN traded up $0.05 during trading on Friday, hitting $57.51. The company had a trading volume of 223,366 shares, compared to its average volume of 906,132. Ryan Specialty Holdings, Inc. has a one year low of $41.49 and a one year high of $61.29. The company’s fifty day moving average is $54.53 and its 200-day moving average is $50.18. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.99. The company has a market cap of $14.98 billion, a price-to-earnings ratio of 108.42, a price-to-earnings-growth ratio of 1.49 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last announced its earnings results on Thursday, May 2nd. The company reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $552.00 million during the quarter, compared to the consensus estimate of $549.06 million. Ryan Specialty had a net margin of 9.15% and a return on equity of 45.87%. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 earnings per share. On average, sell-side analysts predict that Ryan Specialty Holdings, Inc. will post 1.77 earnings per share for the current year.

Ryan Specialty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Monday, May 13th. Ryan Specialty’s payout ratio is currently 83.02%.

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.