Charles Schwab Investment Management Inc. Sells 14,385 Shares of Ryan Specialty Holdings Inc. $RYAN

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Ryan Specialty Holdings Inc. by 1.5% in Q1, now holding 960,066 shares valued at approximately $70.92 million.
• Vanguard Group Inc. and Principal Financial Group Inc. increased their positions in Ryan Specialty, with Vanguard growing by 4% to over 10 million shares and Principal Financial up by 66.4% to over 3 million shares.
• Ryan Specialty announced a quarterly dividend of $0.12 per share, with a payout ratio of 137.14%, scheduled for distribution on August 26th.

Charles Schwab Investment Management Inc. cut its holdings in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 960,066 shares of the company's stock after selling 14,385 shares during the period. Charles Schwab Investment Management Inc. owned about 0.37% of Ryan Specialty worth $70,920,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of RYAN. Vanguard Group Inc. grew its stake in shares of Ryan Specialty by 4.0% during the first quarter. Vanguard Group Inc. now owns 10,271,428 shares of the company's stock valued at $758,750,000 after purchasing an additional 390,924 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in Ryan Specialty by 61.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,078,233 shares of the company's stock worth $79,649,000 after buying an additional 409,649 shares in the last quarter. Geneva Capital Management LLC boosted its position in Ryan Specialty by 3.3% in the 1st quarter. Geneva Capital Management LLC now owns 495,970 shares of the company's stock valued at $36,637,000 after buying an additional 15,825 shares during the last quarter. Blair William & Co. IL increased its stake in shares of Ryan Specialty by 0.7% in the 1st quarter. Blair William & Co. IL now owns 2,784,916 shares of the company's stock valued at $205,722,000 after buying an additional 18,953 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of Ryan Specialty by 17.2% during the first quarter. PNC Financial Services Group Inc. now owns 5,503 shares of the company's stock worth $406,000 after acquiring an additional 807 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RYAN has been the topic of several recent research reports. Cantor Fitzgerald upgraded Ryan Specialty to a "hold" rating in a report on Wednesday, August 13th. Wells Fargo & Company reduced their target price on shares of Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Wall Street Zen upgraded shares of Ryan Specialty from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Morgan Stanley dropped their price objective on Ryan Specialty from $71.00 to $68.00 and set an "overweight" rating for the company in a report on Monday. Finally, Citigroup started coverage on Ryan Specialty in a research report on Wednesday, August 13th. They set a "buy" rating and a $74.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.83.

Insider Transactions at Ryan Specialty

In related news, Director David P. Bolger sold 5,000 shares of Ryan Specialty stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $70.80, for a total transaction of $354,000.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Stephen Katz sold 14,377 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 1,117 shares in the company, valued at approximately $73,543.28. The trade was 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 corporate insiders.

Ryan Specialty Stock Up 0.7%

Shares of RYAN traded up $0.42 on Tuesday, hitting $59.44. The company's stock had a trading volume of 106,764 shares, compared to its average volume of 1,071,732. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.88. The firm has a market capitalization of $15.67 billion, a price-to-earnings ratio of 170.19, a P/E/G ratio of 1.64 and a beta of 0.64. The firm's fifty day moving average price is $64.10 and its 200-day moving average price is $67.70. Ryan Specialty Holdings Inc. has a fifty-two week low of $55.77 and a fifty-two week 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, meeting the consensus estimate of $0.66. Ryan Specialty had a net margin of 6.81% and a return on equity of 48.70%. The company had revenue of $855.17 million during the quarter, compared to analysts' expectations of $837.52 million. During the same quarter in the prior year, the company earned $0.58 earnings per share. The business's quarterly revenue was up 23.0% compared to the same quarter last year. On average, equities research analysts expect that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current year.

Ryan Specialty Announces Dividend

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

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.