Ryan Specialty Holdings Inc. (NYSE:RYAN) Shares Sold by Allianz Asset Management GmbH

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Ryan Specialty by 281.6% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company's stock worth $25,000 after buying an additional 245 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Ryan Specialty in the 1st quarter worth approximately $35,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Ryan Specialty in the 4th quarter worth approximately $36,000. Fifth Third Bancorp boosted its stake in Ryan Specialty by 202.5% during the 1st quarter. Fifth Third Bancorp now owns 484 shares of the company's stock valued at $36,000 after purchasing an additional 324 shares during the last quarter. Finally, Mizuho Bank Ltd. bought a new stake in shares of Ryan Specialty in the 4th quarter worth $49,000. Institutional investors own 84.82% of the company's stock.

Insider Activity at Ryan Specialty

In related news, Director David P. Bolger sold 5,000 shares of Ryan Specialty stock in a transaction that occurred 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 sale, the director owned 71,467 shares in the company, valued at approximately $5,059,863.60. This trade represents a 6.54% decrease in their position. The transaction 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 business's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $65.84, for a total transaction of $946,581.68. Following the completion of the transaction, the executive vice president owned 1,117 shares of the company's stock, valued at approximately $73,543.28. This trade represents a 92.79% decrease in their position. The disclosure for this sale can be found here. 52.21% of the stock is currently owned by insiders.

Ryan Specialty Stock Down 0.0%

Ryan Specialty stock traded down $0.02 during mid-day trading on Monday, reaching $57.83. 1,841,400 shares of the company were exchanged, compared to its average volume of 1,336,718. The business has a fifty day moving average of $66.47 and a 200 day moving average of $68.22. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.05 and a current ratio of 1.01. The firm has a market cap of $15.18 billion, a P/E ratio of 30.29, a PEG ratio of 1.57 and a beta of 0.64. Ryan Specialty Holdings Inc. has a 12-month low of $55.77 and a 12-month high of $77.16.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.66 earnings per share for the quarter, hitting analysts' consensus estimates 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 return on equity of 48.70% and a net margin of 6.81%. Ryan Specialty's quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.58 EPS. Research analysts anticipate that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, August 12th. Ryan Specialty's payout ratio is presently 137.14%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RYAN shares. The Goldman Sachs Group upgraded Ryan Specialty from a "neutral" rating to a "buy" rating and raised their price target for the stock from $74.00 to $81.00 in a research note on Tuesday, May 13th. Morgan Stanley lowered their target price on Ryan Specialty from $80.00 to $78.00 and set an "overweight" rating on the stock in a research report on Monday, July 14th. Wells Fargo & Company lowered their target price on Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Friday. TD Cowen assumed coverage on Ryan Specialty in a research report on Thursday, April 10th. They set a "buy" rating and a $89.00 target price on the stock. Finally, Keefe, Bruyette & Woods lowered their target price 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. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.30.

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.