Allspring Global Investments Holdings LLC Invests $10.62 Million in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Allspring Global Investments Holdings LLC purchased a new position in Ryan Specialty Holdings, Inc. (NYSE:RYANGet Rating) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 261,453 shares of the company’s stock, valued at approximately $10,620,000. Allspring Global Investments Holdings LLC owned 0.10% of Ryan Specialty as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Janney Montgomery Scott LLC purchased a new position in Ryan Specialty in the 3rd quarter worth approximately $326,000. Versor Investments LP boosted its holdings in Ryan Specialty by 129.1% in the 3rd quarter. Versor Investments LP now owns 44,208 shares of the company’s stock worth $1,796,000 after acquiring an additional 24,908 shares during the period. Raymond James & Associates purchased a new position in Ryan Specialty in the 3rd quarter worth approximately $303,000. Calamos Advisors LLC purchased a new position in Ryan Specialty in the 3rd quarter worth approximately $749,000. Finally, FirstPurpose Wealth LLC purchased a new position in Ryan Specialty in the 3rd quarter worth approximately $200,000. Hedge funds and other institutional investors own 26.82% of the company’s stock.

Insider Activity at Ryan Specialty

In other news, CEO Patrick G. Ryan purchased 182,400 shares of the company’s stock in a transaction that occurred on Wednesday, November 16th. The shares were acquired at an average cost of $33.86 per share, with a total value of $6,176,064.00. Following the transaction, the chief executive officer now owns 5,801,621 shares in the company, valued at approximately $196,442,887.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Patrick G. Ryan bought 182,400 shares of the company’s stock in a transaction on Wednesday, November 16th. The shares were purchased at an average cost of $33.86 per share, with a total value of $6,176,064.00. Following the completion of the transaction, the chief executive officer now directly owns 5,801,621 shares of the company’s stock, valued at $196,442,887.06. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael D. Ohalleran bought 7,724 shares of the company’s stock in a transaction on Thursday, November 17th. The stock was bought at an average cost of $34.62 per share, for a total transaction of $267,404.88. Following the completion of the transaction, the director now directly owns 581,952 shares of the company’s stock, valued at $20,147,178.24. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 1,044,848 shares of company stock valued at $39,211,853. Corporate insiders own 54.30% of the company’s stock.

Ryan Specialty Stock Performance

RYAN stock opened at $43.88 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 2.58. The firm has a market cap of $11.39 billion, a P/E ratio of 95.39 and a beta of 0.50. Ryan Specialty Holdings, Inc. has a 12-month low of $32.13 and a 12-month high of $46.40. The stock’s 50 day simple moving average is $40.29 and its 200 day simple moving average is $41.44.

Ryan Specialty (NYSE:RYANGet Rating) last posted its quarterly earnings results on Thursday, November 10th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.03). The firm had revenue of $412.00 million for the quarter, compared to analyst estimates of $422.46 million. Ryan Specialty had a net margin of 8.81% and a return on equity of 47.01%. As a group, equities research analysts predict that Ryan Specialty Holdings, Inc. will post 1.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RYAN shares. Wells Fargo & Company upgraded Ryan Specialty from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $41.00 to $45.00 in a report on Friday, December 16th. Citigroup began coverage on Ryan Specialty in a research report on Wednesday, December 14th. They issued a “neutral” rating and a $42.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Ryan Specialty from $40.00 to $39.00 in a research report on Friday, November 11th. Barclays cut their target price on Ryan Specialty to $49.00 in a research report on Wednesday, November 16th. Finally, Royal Bank of Canada cut their target price on Ryan Specialty from $47.00 to $46.00 and set a “sector perform” rating on the stock in a research report on Friday, November 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Ryan Specialty currently has a consensus rating of “Hold” and an average target price of $45.14.

Ryan Specialty Profile

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Ryan Specialty Group Holdings, Inc operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers. It offers distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter.

Further Reading

Institutional Ownership by Quarter for Ryan Specialty (NYSE:RYAN)

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