Man Group plc Cuts Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Man Group plc decreased its holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 24.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,613 shares of the company's stock after selling 35,397 shares during the quarter. Man Group plc's holdings in Ryan Specialty were worth $7,097,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in RYAN. Raymond James Financial Inc. acquired a new stake in shares of Ryan Specialty during the fourth quarter worth $94,484,000. Norges Bank acquired a new position in shares of Ryan Specialty in the fourth quarter valued at about $78,358,000. Millennium Management LLC lifted its holdings in shares of Ryan Specialty by 1,111.4% during the fourth quarter. Millennium Management LLC now owns 1,174,086 shares of the company's stock worth $75,329,000 after purchasing an additional 1,077,169 shares during the period. Principal Financial Group Inc. boosted its position in Ryan Specialty by 115.2% in the fourth quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company's stock valued at $117,619,000 after buying an additional 981,505 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in Ryan Specialty by 6,911.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 785,928 shares of the company's stock worth $48,036,000 after buying an additional 774,718 shares during the period. 84.82% of the stock is currently owned by institutional investors.

Insider Activity at Ryan Specialty

In related news, EVP Brendan Martin Mulshine sold 30,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $69.30, for a total transaction of $2,079,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 52.21% of the stock is currently owned by company insiders.

Ryan Specialty Stock Performance

NYSE RYAN traded down $0.03 on Friday, hitting $68.69. 548,694 shares of the stock were exchanged, compared to its average volume of 985,615. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. Ryan Specialty Holdings, Inc. has a 52 week low of $52.34 and a 52 week high of $77.16. The business's fifty day moving average is $70.10 and its 200 day moving average is $68.77. The company has a market capitalization of $18.03 billion, a PE ratio of 99.56, a P/E/G ratio of 1.19 and a beta of 0.68.

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. The firm had revenue of $690.17 million during the quarter, compared to the consensus estimate of $680.80 million. Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. The company's revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 EPS. Research analysts anticipate that Ryan Specialty Holdings, Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.70%. Ryan Specialty's dividend payout ratio (DPR) is presently 141.18%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on RYAN shares. Morgan Stanley boosted their price objective on Ryan Specialty from $78.00 to $80.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. TD Cowen started coverage on Ryan Specialty in a research note on Thursday, April 10th. They issued a "buy" rating and a $89.00 price objective for the company. UBS Group increased their price target on shares of Ryan Specialty from $82.00 to $84.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. The Goldman Sachs Group raised Ryan Specialty from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $74.00 to $81.00 in a research report on Tuesday, May 13th. Finally, Barclays cut their price target on shares of Ryan Specialty from $88.00 to $83.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Ryan Specialty presently has a consensus rating of "Moderate Buy" and an average price target of $75.58.

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.