Principal Financial Group Inc. Has $117.62 Million Holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Principal Financial Group Inc. increased its holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 115.2% during the fourth quarter, HoldingsChannel reports. The fund owned 1,833,209 shares of the company’s stock after acquiring an additional 981,505 shares during the quarter. Principal Financial Group Inc.’s holdings in Ryan Specialty were worth $117,619,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hollencrest Capital Management bought a new stake in Ryan Specialty in the 3rd quarter worth about $25,000. Assetmark Inc. bought a new stake in Ryan Specialty in the 3rd quarter worth about $34,000. Principal Securities Inc. grew its position in Ryan Specialty by 164.7% in the 4th quarter. Principal Securities Inc. now owns 667 shares of the company’s stock worth $43,000 after purchasing an additional 415 shares in the last quarter. Quarry LP grew its position in Ryan Specialty by 109.3% in the 3rd quarter. Quarry LP now owns 808 shares of the company’s stock worth $54,000 after purchasing an additional 422 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of Ryan Specialty by 12.3% during the 3rd quarter. Signaturefd LLC now owns 1,347 shares of the company’s stock valued at $89,000 after acquiring an additional 148 shares during the period. Institutional investors and hedge funds own 84.82% of the company’s stock.

Insider Activity at Ryan Specialty

In other Ryan Specialty news, Director David P. Bolger sold 7,055 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $70.88, for a total value of $500,058.40. Following the sale, the director now directly owns 78,149 shares in the company, valued at $5,539,201.12. This represents a 8.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 31,409 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $65.64, for a total transaction of $2,061,686.76. Following the completion of the sale, the director now owns 2,697 shares in the company, valued at $177,031.08. This represents a 92.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 323,506 shares of company stock worth $21,407,851. 11.10% of the stock is owned by corporate insiders.

Ryan Specialty Stock Performance

Shares of RYAN stock opened at $69.55 on Wednesday. The stock has a market capitalization of $18.21 billion, a P/E ratio of 90.33, a PEG ratio of 1.19 and a beta of 0.72. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. The firm’s 50 day moving average is $65.56 and its 200 day moving average is $67.23. Ryan Specialty Holdings, Inc. has a 12 month low of $45.55 and a 12 month high of $75.97.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RYAN. Wells Fargo & Company reduced their target price on shares of Ryan Specialty from $68.00 to $64.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods reduced their target price on shares of Ryan Specialty from $79.00 to $77.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Morgan Stanley began coverage on shares of Ryan Specialty in a research report on Thursday, December 5th. They set an “overweight” rating and a $90.00 target price for the company. Finally, Barclays increased their target price on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, Ryan Specialty presently has a consensus rating of “Hold” and a consensus target price of $74.40.

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.