Jennison Associates LLC Sells 5,865 Shares of Ryan Specialty Holdings Inc. (NYSE:RYAN)

Jennison Associates LLC lessened its position in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 0.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 987,152 shares of the company's stock after selling 5,865 shares during the quarter. Jennison Associates LLC owned about 0.38% of Ryan Specialty worth $72,921,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in shares of Ryan Specialty by 22.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,696 shares of the company's stock worth $301,000 after purchasing an additional 846 shares during the period. HighTower Advisors LLC increased its stake in Ryan Specialty by 6.4% in the fourth quarter. HighTower Advisors LLC now owns 42,533 shares of the company's stock valued at $2,729,000 after acquiring an additional 2,564 shares during the period. Natixis Advisors LLC increased its stake in Ryan Specialty by 95.9% in the fourth quarter. Natixis Advisors LLC now owns 59,649 shares of the company's stock valued at $3,827,000 after acquiring an additional 29,204 shares during the period. Corient Private Wealth LLC increased its stake in Ryan Specialty by 12.8% in the fourth quarter. Corient Private Wealth LLC now owns 18,103 shares of the company's stock valued at $1,162,000 after acquiring an additional 2,055 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in Ryan Specialty by 5.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 29,373 shares of the company's stock valued at $1,917,000 after acquiring an additional 1,573 shares during the period. Institutional investors own 84.82% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on RYAN. Wells Fargo & Company reduced their price target on shares of Ryan Specialty from $65.00 to $63.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. The Goldman Sachs Group upgraded shares of Ryan Specialty from a "neutral" rating to a "buy" rating and boosted their price target for the company from $74.00 to $81.00 in a research report on Tuesday, May 13th. TD Cowen began coverage on shares of Ryan Specialty in a research report on Thursday, April 10th. They issued a "buy" rating and a $89.00 price target on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, Morgan Stanley reduced 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. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $74.83.

Ryan Specialty Stock Down 1.7%

Shares of RYAN stock traded down $1.15 during trading hours on Friday, hitting $66.01. 760,945 shares of the company were exchanged, compared to its average volume of 927,910. The business has a 50 day moving average of $67.72 and a two-hundred day moving average of $68.20. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 3.45. Ryan Specialty Holdings Inc. has a 52 week low of $56.59 and a 52 week high of $77.16. The company has a market capitalization of $17.32 billion, a PE ratio of 194.15, a PEG ratio of 1.79 and a beta of 0.66.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.39 earnings per share for the quarter, meeting analysts' consensus estimates of $0.39. Ryan Specialty had a net margin of 6.97% and a return on equity of 47.70%. The business 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 firm earned $0.35 earnings per share. The firm's revenue for the quarter was up 25.0% compared to the same quarter last year. 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 announced a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Tuesday, May 13th. Ryan Specialty's payout ratio is 141.18%.

Insider Activity

In other Ryan Specialty news, Director David P. Bolger sold 5,000 shares of Ryan Specialty stock in a transaction dated 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 in the company, valued at $5,059,863.60. The trade was a 6.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Stephen Katz sold 14,377 shares of Ryan Specialty stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $65.84, for a total transaction of $946,581.68. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders own 52.21% of the company's stock.

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.