Nicolet Advisory Services LLC Grows Stock Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Nicolet Advisory Services LLC lifted its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 6.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,338 shares of the company’s stock after buying an additional 600 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Ryan Specialty were worth $727,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Blair William & Co. IL raised its holdings in Ryan Specialty by 3.4% in the 2nd quarter. Blair William & Co. IL now owns 2,866,003 shares of the company’s stock worth $165,970,000 after purchasing an additional 94,663 shares during the period. Eagle Asset Management Inc. raised its stake in shares of Ryan Specialty by 32.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company’s stock worth $98,555,000 after buying an additional 335,180 shares during the period. Jennison Associates LLC lifted its position in shares of Ryan Specialty by 60.2% during the 3rd quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock valued at $68,054,000 after buying an additional 385,366 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Ryan Specialty by 43.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 938,187 shares of the company’s stock valued at $62,286,000 after acquiring an additional 286,380 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Ryan Specialty by 148.9% in the 3rd quarter. Principal Financial Group Inc. now owns 851,704 shares of the company’s stock worth $56,545,000 after acquiring an additional 509,548 shares in the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Nicholas Dominic Cortezi sold 2,325 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $64.60, for a total value of $150,195.00. Following the sale, the director now directly owns 3,463 shares of the company’s stock, valued at approximately $223,709.80. The trade was a 40.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Stephen Katz sold 14,790 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the transaction, the executive vice president now directly owns 12,386 shares of the company’s stock, valued at $884,236.54. The trade was a 54.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,490 shares of company stock valued at $1,553,977 in the last quarter. Insiders own 11.10% of the company’s stock.

Ryan Specialty Trading Up 2.5 %

Shares of RYAN stock opened at $73.53 on Friday. Ryan Specialty Holdings, Inc. has a twelve month low of $41.49 and a twelve month high of $74.53. The stock has a market cap of $19.25 billion, a price-to-earnings ratio of 95.49, a PEG ratio of 1.63 and a beta of 0.62. The company’s 50-day moving average price is $69.06 and its 200-day moving average price is $62.58. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, meeting the consensus estimate of $0.41. The business had revenue of $604.69 million during the quarter, compared to analysts’ expectations of $602.04 million. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.32 EPS. As a group, equities analysts predict that Ryan Specialty Holdings, Inc. will post 1.8 earnings per share for the current year.

Ryan Specialty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be given a $0.11 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.44 dividend on an annualized basis and a yield of 0.60%. Ryan Specialty’s dividend payout ratio is currently 57.14%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Bank of America lifted their target price on shares of Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. BMO Capital Markets upgraded Ryan Specialty from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $65.00 to $75.00 in a report on Tuesday, September 24th. UBS Group increased their target price on Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. The Goldman Sachs Group lifted their price target on Ryan Specialty from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company increased their price objective on Ryan Specialty from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $71.67.

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.