Allspring Global Investments Holdings LLC Cuts Stake in Ryan Specialty Holdings Inc. $RYAN

Key Points

• Allspring Global Investments slashed its stake in Ryan Specialty by 99.4% in Q4, selling 712,682 shares and leaving just 4,480 shares valued at about $234,000.
• Director Patrick G. Ryan, Jr. purchased 25,500 shares on Feb. 23 at $39.96, raising his stake to 428,295 shares, and insiders now own about 52.03% of the company.
• Ryan Specialty missed Q4 expectations (EPS $0.45 vs. $0.50 and revenue $751.2M vs. $777.4M) despite 13.2% YoY revenue growth; analysts have trimmed price targets and the consensus rating is a Hold with a $50.31 target, while the company raised its quarterly dividend to $0.13 (annualized $0.52) amid a 123.8% payout ratio.

Allspring Global Investments Holdings LLC lowered its holdings in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 99.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,480 shares of the company's stock after selling 712,682 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Ryan Specialty were worth $234,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Advisory Services Network LLC purchased a new stake in shares of Ryan Specialty during the third quarter worth about $28,000. Fifth Third Bancorp grew its position in shares of Ryan Specialty by 65.4% during the third quarter. Fifth Third Bancorp now owns 612 shares of the company's stock worth $34,000 after purchasing an additional 242 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Ryan Specialty by 83.7% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 599 shares of the company's stock worth $35,000 after purchasing an additional 273 shares in the last quarter. Quarry LP purchased a new stake in shares of Ryan Specialty during the third quarter worth about $37,000. Finally, Hantz Financial Services Inc. grew its position in shares of Ryan Specialty by 878.2% during the third quarter. Hantz Financial Services Inc. now owns 851 shares of the company's stock worth $48,000 after purchasing an additional 764 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company's stock.

Insider Transactions at Ryan Specialty

In other Ryan Specialty news, Director Patrick G. Ryan, Jr. acquired 25,500 shares of the company's stock in a transaction that occurred on Monday, February 23rd. The stock was bought at an average price of $39.96 per share, for a total transaction of $1,018,980.00. Following the acquisition, the director directly owned 428,295 shares in the company, valued at $17,114,668.20. The trade was a 6.33% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 52.03% of the stock is currently owned by insiders.

Ryan Specialty Price Performance

Shares of Ryan Specialty stock opened at $35.87 on Tuesday. The stock has a market cap of $9.48 billion, a price-to-earnings ratio of 85.40, a price-to-earnings-growth ratio of 0.92 and a beta of 0.71. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a 50 day moving average price of $37.97 and a 200-day moving average price of $48.18. Ryan Specialty Holdings Inc. has a one year low of $31.50 and a one year high of $75.26.

Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its earnings results on Thursday, February 12th. The company reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.05). The company had revenue of $751.21 million during the quarter, compared to analysts' expectations of $777.43 million. Ryan Specialty had a return on equity of 46.41% and a net margin of 7.02%.Ryan Specialty's revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 EPS. Equities analysts expect that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current year.

Ryan Specialty Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Tuesday, February 24th. This is an increase from Ryan Specialty's previous quarterly dividend of $0.12. Ryan Specialty's dividend payout ratio (DPR) is presently 123.81%.

Analyst Ratings Changes

RYAN has been the subject of several research analyst reports. Cantor Fitzgerald cut their price target on Ryan Specialty from $45.00 to $40.00 and set a "neutral" rating for the company in a report on Thursday, April 9th. Piper Sandler cut their price target on Ryan Specialty from $58.00 to $43.00 and set a "neutral" rating for the company in a report on Friday, February 13th. Mizuho cut their price target on Ryan Specialty from $44.00 to $42.00 and set a "neutral" rating for the company in a report on Monday. Weiss Ratings cut Ryan Specialty from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, February 5th. Finally, Zacks Research cut Ryan Specialty from a "hold" rating to a "strong sell" rating in a report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $50.31.

Ryan Specialty Company Profile

Ryan Specialty Group, Inc NYSE: RYAN is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients' unique needs.

Ryan Specialty's core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.

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