Allianz Asset Management GmbH Cuts Holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN)

Key Points

• Allianz Asset Management GmbH significantly reduced its stake in Ryan Specialty Holdings Inc. by 35.8%, now owning 7,897 shares valued at approximately $583,000.
• Several institutional investors, including Wealth Enhancement Advisory Services LLC and GAMMA Investing LLC, adjusted their positions in Ryan Specialty, contributing to 84.82% of the company's stock being held by such entities.
• Analysts have mixed ratings for Ryan Specialty, with Goldman Sachs upgrading it to a "buy" and raising the price target to $81.00, while other firms have issued lower targets, resulting in a consensus rating of "Moderate Buy" and a target price of $75.73.

Allianz Asset Management GmbH trimmed its holdings in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 35.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,897 shares of the company's stock after selling 4,400 shares during the quarter. Allianz Asset Management GmbH's holdings in Ryan Specialty were worth $583,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. raised its holdings in Ryan Specialty by 281.6% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company's stock worth $25,000 after purchasing an additional 245 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in Ryan Specialty in the first quarter valued at approximately $35,000. Kapitalo Investimentos Ltda acquired a new position in Ryan Specialty in the fourth quarter valued at approximately $36,000. Fifth Third Bancorp lifted its holdings in Ryan Specialty by 202.5% in the first quarter. Fifth Third Bancorp now owns 484 shares of the company's stock valued at $36,000 after acquiring an additional 324 shares during the period. Finally, Mizuho Bank Ltd. acquired a new position in Ryan Specialty in the fourth quarter valued at approximately $49,000. 84.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director David P. Bolger sold 5,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $70.80, for a total value of $354,000.00. Following the completion of the transaction, the director directly owned 71,467 shares of the company's stock, valued at approximately $5,059,863.60. This represents a 6.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Stephen Katz sold 14,377 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $65.84, for a total transaction of $946,581.68. Following the transaction, the executive vice president owned 1,117 shares of the company's stock, valued at approximately $73,543.28. This represents a 92.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 52.21% of the stock is currently owned by corporate insiders.

Ryan Specialty Stock Performance

RYAN stock traded down $0.21 during trading on Wednesday, reaching $57.56. 498,283 shares of the stock were exchanged, compared to its average volume of 1,056,547. The company has a market capitalization of $15.11 billion, a P/E ratio of 164.42, a price-to-earnings-growth ratio of 1.66 and a beta of 0.64. The company has a current ratio of 1.01, a quick ratio of 1.05 and a debt-to-equity ratio of 2.88. Ryan Specialty Holdings Inc. has a twelve month low of $55.77 and a twelve month high of $77.16. The stock has a 50 day simple moving average of $66.01 and a 200-day simple moving average of $68.09.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.66 EPS for the quarter, meeting the consensus estimate of $0.66. The company had revenue of $855.17 million during the quarter, compared to analysts' expectations of $837.52 million. Ryan Specialty had a net margin of 6.81% and a return on equity of 48.70%. The business's revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 EPS. As a group, sell-side analysts anticipate that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. Ryan Specialty's dividend payout ratio is presently 137.14%.

Wall Street Analysts Forecast Growth

RYAN has been the subject of several research analyst reports. The Goldman Sachs Group raised Ryan Specialty from a "neutral" rating to a "buy" rating and upped their target price for the stock from $74.00 to $81.00 in a research note on Tuesday, May 13th. Wells Fargo & Company reduced their price target on Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Keefe, Bruyette & Woods reduced their price target on Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Wall Street Zen upgraded Ryan Specialty from a "sell" rating to a "hold" rating in a research note on Sunday. Finally, Morgan Stanley decreased their price target on Ryan Specialty from $80.00 to $78.00 and set an "overweight" rating on the stock in a research note on Monday, July 14th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Ryan Specialty has an average rating of "Moderate Buy" and an average target price of $77.30.

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.