CIBC Private Wealth Group LLC Grows Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

CIBC Private Wealth Group LLC boosted its holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 6,911.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 785,928 shares of the company’s stock after buying an additional 774,718 shares during the quarter. CIBC Private Wealth Group LLC owned 0.30% of Ryan Specialty worth $48,036,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Rakuten Securities Inc. bought a new stake in shares of Ryan Specialty in the fourth quarter worth approximately $27,000. 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 during the period. Quarry LP raised its stake in Ryan Specialty by 109.3% during the 3rd quarter. Quarry LP now owns 808 shares of the company’s stock valued at $54,000 after buying an additional 422 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Ryan Specialty during the 4th quarter valued at $54,000. Finally, R Squared Ltd purchased a new position in shares of Ryan Specialty in the 4th quarter worth $92,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, EVP Brendan Martin Mulshine sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $69.30, for a total transaction of $2,079,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Nicholas Dominic Cortezi sold 10,485 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $65.12, for a total value of $682,783.20. Following the sale, the director now directly owns 11,109 shares in the company, valued at $723,418.08. This trade represents a 48.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 241,360 shares of company stock valued at $16,006,428 in the last three months. 11.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Ryan Specialty Stock Up 0.2 %

Shares of RYAN stock opened at $72.98 on Monday. The company has a market capitalization of $19.11 billion, a price-to-earnings ratio of 105.77, a PEG ratio of 1.19 and a beta of 0.71. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. The company’s fifty day moving average price is $68.74 and its 200-day moving average price is $68.32. Ryan Specialty Holdings, Inc. has a one year low of $48.48 and a one year high of $75.97.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The business had revenue of $663.53 million during the quarter, compared to analysts’ expectations of $658.80 million. Sell-side analysts expect that Ryan Specialty Holdings, Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.66%. This is an increase from Ryan Specialty’s previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, March 4th. Ryan Specialty’s dividend payout ratio is presently 69.57%.

Ryan Specialty Company 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.