Pacer Advisors Inc. Sells 18,288 Shares of Ryan Specialty Holdings Inc. (NYSE:RYAN)

Key Points

• Pacer Advisors Inc. significantly reduced its holdings in Ryan Specialty Holdings Inc. by 62.8%, ending with 10,810 shares valued at approximately $799,000.
• Several other institutional investors have made adjustments to their positions in Ryan Specialty, with 84.82% of the stock currently owned by these investors.
• Analyst ratings for Ryan Specialty show a mixed outlook, with two "sell" ratings, two "hold" ratings, and eight "buy" ratings, resulting in an average price target of $76.00.

Pacer Advisors Inc. trimmed its holdings in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 62.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 10,810 shares of the company's stock after selling 18,288 shares during the period. Pacer Advisors Inc.'s holdings in Ryan Specialty were worth $799,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RYAN. Whittier Trust Co. of Nevada Inc. increased its position in Ryan Specialty by 281.6% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company's stock valued at $25,000 after acquiring an additional 245 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Ryan Specialty in the 1st quarter valued at about $35,000. Fifth Third Bancorp boosted its stake in shares of 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 purchasing an additional 324 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of Ryan Specialty in the 4th quarter valued at about $36,000. Finally, Mizuho Bank Ltd. bought a new position in shares of Ryan Specialty in the 4th quarter valued at about $49,000. 84.82% of the stock is owned by institutional investors.

Ryan Specialty Trading Down 5.3%

Shares of Ryan Specialty stock traded down $3.22 on Friday, reaching $57.97. 4,994,985 shares of the company's stock were exchanged, compared to its average volume of 1,086,969. The company has a market capitalization of $15.21 billion, a P/E ratio of 165.63, a price-to-earnings-growth ratio of 1.65 and a beta of 0.64. Ryan Specialty Holdings Inc. has a 52 week low of $55.77 and a 52 week high of $77.16. The firm's 50-day moving average is $66.47 and its two-hundred day moving average is $68.20. The company has a debt-to-equity ratio of 3.45, a quick ratio of 1.05 and a current ratio of 1.05.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.66 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.66. The firm had revenue of $855.17 million for the quarter, compared to analysts' expectations of $837.52 million. Ryan Specialty had a return on equity of 49.78% and a net margin of 6.81%. The company's revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.58 EPS. Sell-side analysts predict that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, August 12th. Ryan Specialty's dividend payout ratio (DPR) is currently 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 transaction, the director directly owned 71,467 shares in the company, valued at $5,059,863.60. This trade represents a 6.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Stephen Katz sold 14,377 shares of the stock in a transaction 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 completion of the transaction, the executive vice president owned 1,117 shares in the company, valued at approximately $73,543.28. This represents a 92.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 52.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

RYAN has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price objective on shares of Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating for the company in a report on Friday. Barclays lowered their price objective on shares of Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating on the stock in a report on Monday, July 7th. TD Cowen initiated coverage on shares of Ryan Specialty in a report on Thursday, April 10th. They set a "buy" rating and a $89.00 target price on the stock. Wall Street Zen downgraded shares of Ryan Specialty from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Finally, The Goldman Sachs Group upgraded shares of Ryan Specialty from a "neutral" rating to a "buy" rating and upped their price objective for the company from $74.00 to $81.00 in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $75.73.

Ryan Specialty Company 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.