Man Group plc Sells 35,397 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Man Group plc cut its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 24.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,613 shares of the company's stock after selling 35,397 shares during the period. Man Group plc's holdings in Ryan Specialty were worth $7,097,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Ryan Specialty by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 9,880,504 shares of the company's stock worth $633,933,000 after purchasing an additional 529,631 shares during the last quarter. Bessemer Group Inc. lifted its stake in Ryan Specialty by 2.5% in the fourth quarter. Bessemer Group Inc. now owns 3,283,216 shares of the company's stock worth $210,651,000 after acquiring an additional 79,976 shares during the period. Blair William & Co. IL lifted its stake in Ryan Specialty by 0.6% in the fourth quarter. Blair William & Co. IL now owns 2,765,963 shares of the company's stock worth $177,464,000 after acquiring an additional 16,540 shares during the period. Principal Financial Group Inc. lifted its stake 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 worth $117,619,000 after acquiring an additional 981,505 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Ryan Specialty by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 1,799,130 shares of the company's stock worth $115,468,000 after acquiring an additional 46,960 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 that occurred on Friday, March 14th. The shares were sold at an average price of $69.30, for a total value of $2,079,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 11.10% of the stock is currently owned by insiders.

Ryan Specialty Stock Performance

Shares of Ryan Specialty stock opened at $70.20 on Tuesday. The firm has a market capitalization of $18.42 billion, a P/E ratio of 101.74, a PEG ratio of 1.19 and a beta of 0.68. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. The company has a 50 day moving average price of $70.18 and a 200 day moving average price of $68.77. Ryan Specialty Holdings, Inc. has a 52 week low of $52.34 and a 52 week high of $77.16.

Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. The firm had revenue of $690.17 million during the quarter, compared to analyst estimates of $680.80 million. Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. Ryan Specialty's revenue was up 25.0% on a year-over-year basis. During the same period last year, the firm posted $0.35 EPS. Sell-side analysts expect that Ryan Specialty Holdings, Inc. will post 2.29 EPS for the current year.

Ryan Specialty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Tuesday, May 13th. Ryan Specialty's payout ratio is currently 141.18%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RYAN shares. Wells Fargo & Company lowered their price objective on shares of Ryan Specialty from $69.00 to $66.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Royal Bank of Canada lowered their price objective on shares of Ryan Specialty from $73.00 to $72.00 and set a "sector perform" rating for the company in a research note on Friday, February 21st. TD Cowen started coverage on shares of Ryan Specialty in a research report on Thursday, April 10th. They set a "buy" rating and a $89.00 price target for the company. Barclays decreased their price target on shares of Ryan Specialty from $88.00 to $83.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Finally, The Goldman Sachs Group raised 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Ryan Specialty currently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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