Geneva Capital Management LLC Buys 50,947 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Geneva Capital Management LLC raised its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 12.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 475,552 shares of the company’s stock after buying an additional 50,947 shares during the period. Geneva Capital Management LLC owned about 0.18% of Ryan Specialty worth $26,393,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its position in shares of Ryan Specialty by 1,283.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,010 shares of the company’s stock worth $43,000 after buying an additional 937 shares during the period. Intelligent Financial Strategies purchased a new stake in shares of Ryan Specialty in the first quarter worth approximately $44,000. Benjamin F. Edwards & Company Inc. bought a new stake in Ryan Specialty during the first quarter worth $45,000. Kapitalo Investimentos Ltda purchased a new stake in Ryan Specialty in the 4th quarter valued at $106,000. Finally, Tower Research Capital LLC TRC lifted its stake in Ryan Specialty by 48.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,500 shares of the company’s stock valued at $108,000 after acquiring an additional 814 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Ryan Specialty Stock Performance

NYSE:RYAN traded up $0.18 during trading hours on Thursday, reaching $56.34. The stock had a trading volume of 918,586 shares, compared to its average volume of 904,130. The stock has a market cap of $14.67 billion, a P/E ratio of 107.57, a price-to-earnings-growth ratio of 1.49 and a beta of 0.62. The stock has a 50 day simple moving average of $55.10 and a 200 day simple moving average of $50.65. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.15 and a current ratio of 1.15. Ryan Specialty Holdings, Inc. has a 12-month low of $41.49 and a 12-month high of $61.29.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The company had revenue of $552.00 million during the quarter, compared to analyst estimates of $549.06 million. Ryan Specialty had a return on equity of 45.87% and a net margin of 9.15%. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 EPS. On average, research analysts forecast that Ryan Specialty Holdings, Inc. will post 1.77 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Monday, May 13th. Ryan Specialty’s payout ratio is currently 83.02%.

Wall Street Analysts Forecast Growth

RYAN has been the subject of several analyst reports. Bank of America assumed coverage on shares of Ryan Specialty in a report on Wednesday, May 22nd. They issued a “buy” rating and a $67.00 target price for the company. Wells Fargo & Company lowered shares of Ryan Specialty from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $58.00 to $60.00 in a research note on Thursday. Wolfe Research downgraded Ryan Specialty from an “outperform” rating to a “peer perform” rating in a research note on Monday, May 6th. UBS Group increased their price target on Ryan Specialty from $63.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $62.00 price objective on shares of Ryan Specialty in a research report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Ryan Specialty has an average rating of “Hold” and an average target price of $57.50.

About Ryan Specialty

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.