Tidal Investments LLC Acquires 2,858 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Tidal Investments LLC boosted its holdings in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 30.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,255 shares of the company’s stock after buying an additional 2,858 shares during the quarter. Tidal Investments LLC’s holdings in Ryan Specialty were worth $814,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Hollencrest Capital Management bought a new stake in Ryan Specialty in the 3rd quarter valued at $25,000. Assetmark Inc. acquired a new position in shares of Ryan Specialty in the third quarter valued at $34,000. Crewe Advisors LLC bought a new position in shares of Ryan Specialty in the second quarter valued at about $39,000. Quarry LP lifted its stake in shares of Ryan Specialty by 109.3% during the 3rd quarter. Quarry LP now owns 808 shares of the company’s stock worth $54,000 after buying an additional 422 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Ryan Specialty by 106.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,249 shares of the company’s stock worth $83,000 after buying an additional 644 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on RYAN shares. The Goldman Sachs Group increased their price target on shares of Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Barclays increased their target price on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Bank of America upped their price objective on Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company lifted their target price on Ryan Specialty from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, BMO Capital Markets upgraded shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and upped their price target for the company from $65.00 to $75.00 in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $73.50.

Ryan Specialty Price Performance

Shares of NYSE:RYAN opened at $64.01 on Friday. The firm has a 50 day moving average of $70.23 and a 200-day moving average of $64.75. Ryan Specialty Holdings, Inc. has a 12 month low of $41.57 and a 12 month high of $75.97. 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 stock has a market capitalization of $16.76 billion, a PE ratio of 83.13, a PEG ratio of 1.52 and a beta of 0.67.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, hitting the consensus estimate of $0.41. The firm had revenue of $604.69 million during the quarter, compared to analysts’ expectations of $602.04 million. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%. The company’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 earnings per share. On average, equities research analysts predict that Ryan Specialty Holdings, Inc. will post 1.82 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.69%. The ex-dividend date was Tuesday, November 12th. Ryan Specialty’s dividend payout ratio (DPR) is presently 57.14%.

Insider Buying and Selling at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 35,000 shares of the firm’s stock in a transaction on 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 owns 60,200 shares of the company’s stock, valued at $4,015,942. This trade represents a 36.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mark Stephen Katz sold 14,790 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $71.39, for a total value of $1,055,858.10. Following the sale, the executive vice president now owns 12,386 shares in the company, valued at $884,236.54. This represents a 54.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 91,845 shares of company stock worth $6,249,417 over the last 90 days. Insiders own 11.10% of the company’s stock.

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.