Ryan Specialty Holdings Inc. (NYSE:RYAN) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. lowered its position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 12.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,877,081 shares of the company's stock after selling 406,135 shares during the quarter. Bessemer Group Inc. owned 1.10% of Ryan Specialty worth $212,531,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Ryan Specialty in the fourth quarter valued at about $94,484,000. Norges Bank acquired a new stake in shares of Ryan Specialty in the 4th quarter valued at approximately $78,358,000. Millennium Management LLC lifted its holdings in shares of Ryan Specialty by 1,111.4% in the 4th quarter. Millennium Management LLC now owns 1,174,086 shares of the company's stock valued at $75,329,000 after buying an additional 1,077,169 shares during the period. CIBC Private Wealth Group LLC boosted its stake in shares of Ryan Specialty by 6,911.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 785,928 shares of the company's stock valued at $48,036,000 after buying an additional 774,718 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Ryan Specialty by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 9,880,504 shares of the company's stock worth $633,933,000 after acquiring an additional 529,631 shares during the period. Institutional investors and hedge funds own 84.82% of the company's stock.

Ryan Specialty Price Performance

Shares of RYAN traded up $0.50 during mid-day trading on Friday, reaching $67.73. 1,317,332 shares of the company's stock were exchanged, compared to its average volume of 919,679. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 3.45. Ryan Specialty Holdings Inc. has a 52-week low of $55.67 and a 52-week high of $77.16. The company has a market cap of $17.77 billion, a price-to-earnings ratio of 199.20, a PEG ratio of 1.79 and a beta of 0.70. The company has a 50-day simple moving average of $68.23 and a two-hundred day simple moving average of $68.07.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.39 earnings per share for the quarter, hitting the consensus estimate of $0.39. Ryan Specialty had a return on equity of 47.70% and a net margin of 6.97%. The company had revenue of $690.17 million during the quarter, compared to the consensus estimate of $680.80 million. During the same quarter last year, the business posted $0.35 earnings per share. Ryan Specialty's revenue was up 25.0% compared to the same quarter last year. On average, sell-side analysts predict that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Tuesday, May 13th. Ryan Specialty's payout ratio is 141.18%.

Insider Activity at Ryan Specialty

In other Ryan Specialty news, 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 value of $946,581.68. Following the completion of the transaction, the executive vice president now directly owns 1,117 shares in the company, valued at approximately $73,543.28. The trade was a 92.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David P. Bolger sold 5,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $70.80, for a total value of $354,000.00. Following the sale, the director now owns 71,467 shares in the company, valued at $5,059,863.60. This trade represents a 6.54% decrease in their position. The disclosure for this sale can be found here. 52.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wells Fargo & Company reduced their target price on Ryan Specialty from $69.00 to $66.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. The Goldman Sachs Group upgraded shares of Ryan Specialty from a "neutral" rating to a "buy" rating and increased their price target for the company from $74.00 to $81.00 in a report on Tuesday, May 13th. Barclays decreased their price objective on shares of Ryan Specialty from $88.00 to $83.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. TD Cowen assumed coverage on shares of 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, Morgan Stanley lifted their price target on shares of Ryan Specialty from $78.00 to $80.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Ryan Specialty currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.58.

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.