Amalgamated Bank Buys 1,276 Shares of Ryan Specialty Holdings Inc. $RYAN

Amalgamated Bank boosted its stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 2.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 51,453 shares of the company’s stock after buying an additional 1,276 shares during the quarter. Amalgamated Bank’s holdings in Ryan Specialty were worth $3,498,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of RYAN. Montrusco Bolton Investments Inc. purchased a new stake in shares of Ryan Specialty during the second quarter valued at approximately $213,852,000. Invesco Ltd. raised its holdings in Ryan Specialty by 121.6% during the 1st quarter. Invesco Ltd. now owns 1,590,862 shares of the company’s stock valued at $117,517,000 after buying an additional 872,846 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Ryan Specialty during the 2nd quarter valued at $37,321,000. Woodline Partners LP bought a new stake in Ryan Specialty in the 1st quarter worth $40,278,000. Finally, Westfield Capital Management Co. LP grew its holdings in Ryan Specialty by 61.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,078,233 shares of the company’s stock worth $79,649,000 after acquiring an additional 409,649 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Ryan Specialty Price Performance

Shares of RYAN stock opened at $53.44 on Tuesday. The business’s fifty day moving average is $54.42 and its 200 day moving average is $61.75. The company has a quick ratio of 1.01, a current ratio of 1.00 and a debt-to-equity ratio of 2.72. The stock has a market cap of $14.09 billion, a price-to-earnings ratio of 116.18, a PEG ratio of 1.51 and a beta of 0.63. Ryan Specialty Holdings Inc. has a twelve month low of $50.08 and a twelve month high of $77.16.

Ryan Specialty (NYSE:RYAN) last announced its earnings results on Thursday, October 30th. The company reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. The firm had revenue of $754.58 million for the quarter, compared to analysts’ expectations of $742.35 million. Ryan Specialty had a net margin of 7.61% and a return on equity of 47.93%. The company’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 EPS. Research analysts expect that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, November 10th. Ryan Specialty’s dividend payout ratio is 104.35%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RYAN shares. The Goldman Sachs Group dropped their target price on shares of Ryan Specialty from $71.00 to $63.00 and set a “buy” rating for the company in a report on Friday. Wall Street Zen raised Ryan Specialty from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ryan Specialty in a research report on Wednesday, October 8th. Cantor Fitzgerald raised Ryan Specialty to a “hold” rating in a research note on Wednesday, August 13th. Finally, Wolfe Research upgraded Ryan Specialty to a “strong-buy” rating in a report on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.54.

Insiders Place Their Bets

In other Ryan Specialty news, Chairman Patrick G. Ryan bought 276,634 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was acquired at an average price of $51.84 per share, with a total value of $14,340,706.56. Following the completion of the purchase, the chairman owned 13,699,959 shares of the company’s stock, valued at approximately $710,205,874.56. This trade represents a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 52.21% 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.