Pembroke Management LTD Reduces Stake in Ryan Specialty Holdings Inc. $RYAN

Key Points

• Pembroke Management LTD has reduced its stake in Ryan Specialty Holdings Inc. by 5.1%, now holding 289,583 shares valued at approximately $21.39 million.
• Ryan Specialty reported Q2 earnings per share of $0.66, matching analysts' expectations, with revenue increasing by 23.0% year-over-year to $855.17 million.
• The company declared a quarterly dividend of $0.12 per share, leading to an annualized dividend yield of 0.8%, although its dividend payout ratio stands at a high of 137.14%.

Pembroke Management LTD trimmed its holdings in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 289,583 shares of the company's stock after selling 15,636 shares during the quarter. Ryan Specialty makes up approximately 3.2% of Pembroke Management LTD's investment portfolio, making the stock its 11th biggest holding. Pembroke Management LTD owned about 0.11% of Ryan Specialty worth $21,391,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RYAN. Whittier Trust Co. of Nevada Inc. boosted its position in 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 acquiring an additional 245 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of Ryan Specialty in the 1st quarter worth $26,000. WPG Advisers LLC bought a new stake in Ryan Specialty during the first quarter worth approximately $32,000. Golden State Wealth Management LLC purchased a new stake in Ryan Specialty during the first quarter worth $35,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Ryan Specialty during the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 84.82% of the company's stock.

Analysts Set New Price Targets

RYAN has been the subject of a number of research reports. Barclays reduced their target price on shares of Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating for the company in a report on Monday, July 7th. Wall Street Zen raised shares of Ryan Specialty from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Cantor Fitzgerald upgraded shares of Ryan Specialty to a "hold" rating in a research note on Wednesday, August 13th. UBS Group lowered 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. Finally, The Goldman Sachs Group upgraded 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. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.83.

Ryan Specialty Trading Down 2.0%

Shares of Ryan Specialty stock traded down $1.11 during trading hours on Tuesday, reaching $55.42. 968,427 shares of the company's stock were exchanged, compared to its average volume of 1,078,797. Ryan Specialty Holdings Inc. has a 52-week low of $55.14 and a 52-week high of $77.16. The firm has a market capitalization of $14.62 billion, a price-to-earnings ratio of 158.36, a price-to-earnings-growth ratio of 1.57 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 fifty day moving average of $62.45 and a 200-day moving average of $67.00.

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

Ryan Specialty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, August 12th. Ryan Specialty's payout ratio is presently 137.14%.

Insiders Place Their Bets

In other Ryan Specialty news, EVP Mark Stephen Katz sold 14,377 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $65.84, for a total transaction of $946,581.68. Following the completion of the transaction, the executive vice president owned 1,117 shares in the company, valued at $73,543.28. This trade represents a 92.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 52.21% of the company's stock.

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.