Jackson Square Partners LLC Cuts Stock Position in Ryan Specialty Holdings Inc. (NYSE:RYAN)

Key Points

• Jackson Square Partners LLC has reduced its holdings in Ryan Specialty Holdings Inc. by 16.9%, owning 279,455 shares post-sale, which represents 0.11% of the company's stock valued at approximately $20.6 million.
• Several large investors, including Vanguard Group Inc. and Principal Financial Group Inc., have recently increased their stakes in Ryan Specialty, with Vanguard raising its ownership by 4.0%.
• Ryan Specialty announced a quarterly dividend of $0.12 per share, with a payout ratio of 137.14% and a current market cap of $15.05 billion.

Jackson Square Partners LLC reduced its stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 16.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 279,455 shares of the company's stock after selling 56,795 shares during the quarter. Ryan Specialty accounts for approximately 2.8% of Jackson Square Partners LLC's portfolio, making the stock its 12th largest holding. Jackson Square Partners LLC owned 0.11% of Ryan Specialty worth $20,643,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RYAN. Vanguard Group Inc. grew its position in shares of Ryan Specialty by 4.0% in 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. Bessemer Group Inc. grew its position in shares of Ryan Specialty by 2.5% in the fourth quarter. Bessemer Group Inc. now owns 3,283,216 shares of the company's stock valued at $210,651,000 after purchasing an additional 79,976 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Ryan Specialty by 66.4% in the first quarter. Principal Financial Group Inc. now owns 3,051,356 shares of the company's stock valued at $225,404,000 after purchasing an additional 1,218,147 shares during the last quarter. Blair William & Co. IL grew its position in shares of Ryan Specialty by 0.7% in the first quarter. Blair William & Co. IL now owns 2,784,916 shares of the company's stock valued at $205,722,000 after purchasing an additional 18,953 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Ryan Specialty by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 1,799,130 shares of the company's stock valued at $115,468,000 after purchasing an additional 46,960 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ryan Specialty news, EVP Mark Stephen Katz sold 14,377 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were 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 of the company's stock, valued at $73,543.28. This trade represents a 92.79% 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, Director David P. Bolger sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $70.80, for a total transaction of $354,000.00. Following the transaction, the director directly owned 71,467 shares in the company, valued at approximately $5,059,863.60. This represents a 6.54% decrease in their position. The disclosure for this sale can be found here. Company insiders own 52.21% of the company's stock.

Ryan Specialty Trading Down 1.7%

NYSE RYAN traded down $1.02 during mid-day trading on Friday, reaching $58.53. 1,344,980 shares of the stock were exchanged, compared to its average volume of 1,485,492. Ryan Specialty Holdings Inc. has a 1-year low of $55.77 and a 1-year high of $77.16. The business's fifty day simple moving average is $65.30 and its 200 day simple moving average is $67.91. The stock has a market capitalization of $15.36 billion, a PE ratio of 167.23, a PEG ratio of 1.72 and a beta of 0.64. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.05 and a current ratio of 1.01.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $837.52 million. Ryan Specialty had a net margin of 6.81% and a return on equity of 48.70%. Ryan Specialty's revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.58 earnings per share. On average, 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. Ryan Specialty's dividend payout ratio (DPR) is currently 137.14%.

Analyst Ratings Changes

Several research firms have recently commented on RYAN. 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 research report on Tuesday, May 13th. Morgan Stanley lowered their price target on shares of Ryan Specialty from $80.00 to $78.00 and set an "overweight" rating on the stock in a research report on Monday, July 14th. Wall Street Zen upgraded shares of Ryan Specialty from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. UBS Group lowered their price target on shares of Ryan Specialty from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Finally, Barclays decreased their target price on shares of Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating on the stock in a research report on Monday, July 7th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Ryan Specialty currently has a consensus rating of "Moderate Buy" and an average target price of $77.30.

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.