Ryan Specialty Holdings Inc. (NYSE:RYAN) Shares Sold by Firetrail Investments PTY Ltd.

Key Points

• Firetrail Investments PTY Ltd. has reduced its stock holdings in Ryan Specialty Holdings Inc. by 23.6% in Q1, now owning 141,346 shares valued at approximately $10.55 million.
• Among other institutional actions, Whittier Trust Co. of Nevada significantly increased its stake by 281.6%, indicating a heightened interest in Ryan Specialty.
• Analysts have mixed views on Ryan Specialty, with Goldman Sachs upgrading it to a "buy" rating while others have reduced their target prices, resulting in a consensus rating of "Moderate Buy."

Firetrail Investments PTY Ltd. decreased its position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 23.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 141,346 shares of the company's stock after selling 43,596 shares during the quarter. Ryan Specialty makes up 3.1% of Firetrail Investments PTY Ltd.'s holdings, making the stock its 18th largest holding. Firetrail Investments PTY Ltd. owned about 0.05% of Ryan Specialty worth $10,554,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in RYAN. GAMMA Investing LLC boosted its position in Ryan Specialty by 21.8% during the first quarter. GAMMA Investing LLC now owns 2,101 shares of the company's stock valued at $155,000 after purchasing an additional 376 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in Ryan Specialty by 6,911.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 785,928 shares of the company's stock valued at $48,036,000 after purchasing an additional 774,718 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Ryan Specialty by 3.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,215 shares of the company's stock valued at $902,000 after purchasing an additional 460 shares in the last quarter. Wealth Alliance LLC purchased a new stake in Ryan Specialty in the first quarter valued at about $303,000. Finally, Blair William & Co. IL raised its stake in Ryan Specialty by 0.6% in the fourth quarter. Blair William & Co. IL now owns 2,765,963 shares of the company's stock valued at $177,464,000 after buying an additional 16,540 shares during the last quarter. Institutional investors own 84.82% of the company's stock.

Ryan Specialty Stock Performance

RYAN stock traded down $3.58 during trading on Tuesday, hitting $61.88. 594,351 shares of the company traded hands, compared to its average volume of 1,005,860. The stock's 50-day simple moving average is $67.22 and its 200 day simple moving average is $68.39. The company has a debt-to-equity ratio of 3.45, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $16.24 billion, a PE ratio of 181.99, a P/E/G ratio of 1.79 and a beta of 0.66. Ryan Specialty Holdings Inc. has a 1 year low of $59.89 and a 1 year high of $77.16.

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

Ryan Specialty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Tuesday, May 13th. Ryan Specialty's dividend payout ratio (DPR) is presently 141.18%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RYAN. Wall Street Zen cut Ryan Specialty from a "hold" rating to a "sell" rating in a research note on Saturday. TD Cowen began coverage on Ryan Specialty in a research note on Thursday, April 10th. They issued a "buy" rating and a $89.00 price target for the company. Morgan Stanley decreased their price target on Ryan Specialty from $80.00 to $78.00 and set an "overweight" rating for the company in a research note on Monday, July 14th. Barclays decreased their price target on Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating for the company in a research note on Monday, July 7th. Finally, Wells Fargo & Company decreased their price target on Ryan Specialty from $65.00 to $63.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $76.00.

Insider Buying and Selling

In other news, EVP Mark Stephen Katz sold 14,377 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president directly owned 1,117 shares in the company, valued at $73,543.28. The trade was a 92.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David P. Bolger sold 5,000 shares of the business's 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 of the company's stock, valued at $5,059,863.60. This trade represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 52.21% of the stock is owned by insiders.

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.