Kayne Anderson Rudnick Investment Management LLC Has $297.89 Million Stock Holdings in Ryan Specialty Holdings Inc. $RYAN

Key Points

• Kayne Anderson Rudnick Investment Management LLC has decreased its stake in Ryan Specialty Holdings Inc. by 5.4%, now owning approximately 4 million shares, valued at around $297 million.
• Ryan Specialty's stock has experienced a decrease of 1.4%, trading at approximately $58.99, with its year-to-date range between $55.77 and $77.16.
• The company recently announced a quarterly dividend of $0.12 per share, resulting in an annualized yield of 0.8% and a payout ratio of 137.14%.

Kayne Anderson Rudnick Investment Management LLC reduced its stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 5.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,032,593 shares of the company's stock after selling 228,496 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 1.54% of Ryan Specialty worth $297,888,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. grew its position in shares of Ryan Specialty by 281.6% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company's stock worth $25,000 after buying an additional 245 shares during the period. SVB Wealth LLC acquired a new position in shares of Ryan Specialty during the 1st quarter worth about $26,000. Golden State Wealth Management LLC bought a new position in shares of Ryan Specialty during the 1st quarter valued at about $35,000. Fifth Third Bancorp lifted its holdings in shares of Ryan Specialty by 202.5% during the 1st quarter. Fifth Third Bancorp now owns 484 shares of the company's stock valued at $36,000 after purchasing an additional 324 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Ryan Specialty during the 4th quarter valued at about $36,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Ryan Specialty Stock Up 0.2%

Shares of Ryan Specialty stock traded up $0.09 on Friday, reaching $56.74. 314,546 shares of the company were exchanged, compared to its average volume of 1,075,128. Ryan Specialty Holdings Inc. has a one year low of $55.77 and a one year high of $77.16. The company has a market capitalization of $14.96 billion, a price-to-earnings ratio of 162.12, a PEG ratio of 1.60 and a beta of 0.64. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.88. The company has a 50-day moving average of $62.91 and a 200 day moving average of $67.17.

Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.66 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.66. Ryan Specialty had a return on equity of 48.70% and a net margin of 6.81%.The company had revenue of $855.17 million for the quarter, compared to analysts' expectations of $837.52 million. During the same quarter in the prior year, the business posted $0.58 EPS. The business's revenue was up 23.0% compared to the same quarter last year. On average, equities research analysts forecast that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, August 12th. Ryan Specialty's dividend payout ratio is 137.14%.

Insiders Place Their Bets

In related news, Director David P. Bolger sold 5,000 shares of the 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 owned 71,467 shares in the company, valued at approximately $5,059,863.60. This represents a 6.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Stephen Katz sold 14,377 shares of the stock in a transaction on Friday, June 13th. The shares were 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 owned 1,117 shares in the company, valued at approximately $73,543.28. This trade represents 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.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RYAN. Wells Fargo & Company cut their price objective on Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Citigroup initiated coverage on Ryan Specialty in a report on Wednesday, August 13th. They set a "buy" rating and a $74.00 price objective on the stock. UBS Group cut their target price on Ryan Specialty from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Morgan Stanley cut their target price on Ryan Specialty from $71.00 to $68.00 and set an "overweight" rating on the stock in a research note on Monday, August 18th. Finally, Cantor Fitzgerald upgraded Ryan Specialty to a "hold" rating in a research note on Wednesday, August 13th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $74.83.

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.