Kayne Anderson Rudnick Investment Management LLC Trims Stake 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 lowered its position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 5.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,032,593 shares of the company's stock after selling 228,496 shares during the period. 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.

A number of other hedge funds and other institutional investors have also made changes to their positions in RYAN. Whittier Trust Co. of Nevada Inc. increased its position in shares of Ryan Specialty by 281.6% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company's stock worth $25,000 after purchasing an additional 245 shares in the last quarter. SVB Wealth LLC acquired a new position in Ryan Specialty in the 1st quarter valued at about $26,000. Golden State Wealth Management LLC acquired a new position in Ryan Specialty in the 1st quarter valued at about $35,000. Kapitalo Investimentos Ltda acquired a new position in Ryan Specialty in the 4th quarter valued at about $36,000. Finally, Fifth Third Bancorp increased its position in Ryan Specialty by 202.5% in the 1st quarter. Fifth Third Bancorp now owns 484 shares of the company's stock valued at $36,000 after acquiring an additional 324 shares during the period. Institutional investors and hedge funds own 84.82% of the company's stock.

Insider Activity at Ryan Specialty

In other news, Director David P. Bolger sold 5,000 shares of the business's 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 sale, the director owned 71,467 shares of the company's stock, valued at $5,059,863.60. The trade was a 6.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the executive vice president directly owned 1,117 shares in the company, valued at $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 owned by insiders.

Ryan Specialty Price Performance

Shares of NYSE:RYAN traded down $0.33 during trading on Tuesday, hitting $57.72. 1,148,097 shares of the stock were exchanged, compared to its average volume of 1,558,174. The company has a fifty day moving average price of $63.29 and a two-hundred day moving average price of $67.31. The company has a market cap of $15.22 billion, a PE ratio of 164.92, a P/E/G ratio of 1.61 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. Ryan Specialty Holdings Inc. has a 12-month low of $55.77 and a 12-month high of $77.16.

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

Ryan Specialty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders 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 annualized dividend and a dividend yield of 0.8%. Ryan Specialty's payout ratio is 137.14%.

Analysts Set New Price Targets

Several brokerages recently issued reports on RYAN. Cantor Fitzgerald upgraded Ryan Specialty to a "hold" rating in a research report on Wednesday, August 13th. Morgan Stanley dropped their price target on Ryan Specialty from $71.00 to $68.00 and set an "overweight" rating on the stock in a research report on Monday, August 18th. The Goldman Sachs Group upgraded 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. Citigroup began coverage on Ryan Specialty in a research report on Wednesday, August 13th. They issued a "buy" rating and a $74.00 price target on the stock. Finally, Barclays dropped their price target on Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating on the stock in a research report on Monday, July 7th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Ryan Specialty currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.83.

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.