Ryan Specialty Holdings Inc. (NYSE:RYAN) Stake Reduced by Premier Fund Managers Ltd

Key Points

• Premier Fund Managers Ltd has decreased its stake in Ryan Specialty Holdings Inc. by 33.9%, selling 4,226 shares, and now holds 8,242 shares valued at approximately $601,000.
• Insiders are actively selling shares, with Director David P. Bolger and EVP Mark Stephen Katz selling a total of 19,377 shares recently, indicating a shift in ownership dynamics.
• Ryan Specialty's stock has declined by 8.3%, with analysts adjusting their price targets; current ratings show an average of "Moderate Buy" and target price of $76.00.

Premier Fund Managers Ltd lowered its holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 33.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,242 shares of the company's stock after selling 4,226 shares during the quarter. Premier Fund Managers Ltd's holdings in Ryan Specialty were worth $601,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Ryan Specialty by 21.8% during the 1st quarter. GAMMA Investing LLC now owns 2,101 shares of the company's stock worth $155,000 after purchasing an additional 376 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Ryan Specialty by 3.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,215 shares of the company's stock valued at $902,000 after acquiring an additional 460 shares during the last quarter. Wealth Alliance LLC purchased a new position in Ryan Specialty in the 1st quarter valued at about $303,000. Sumitomo Life Insurance Co. acquired a new stake in shares of Ryan Specialty during the 1st quarter worth about $1,056,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Ryan Specialty during the first quarter worth about $1,927,000. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Mark Stephen Katz sold 14,377 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $65.84, for a total transaction of $946,581.68. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David P. Bolger sold 5,000 shares of Ryan Specialty stock in a transaction 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 completion of the transaction, the director directly owned 71,467 shares of the company's stock, valued at approximately $5,059,863.60. This represents a 6.54% decrease in their position. The disclosure for this sale can be found here. 52.21% of the stock is owned by insiders.

Ryan Specialty Stock Down 5.3%

RYAN traded down $3.22 on Friday, reaching $57.97. The company's stock had a trading volume of 4,994,985 shares, compared to its average volume of 1,086,969. The company has a debt-to-equity ratio of 3.45, a current ratio of 1.05 and a quick ratio of 1.05. Ryan Specialty Holdings Inc. has a 1 year low of $55.77 and a 1 year high of $77.16. The business's 50 day moving average is $66.68 and its 200 day moving average is $68.25. The stock has a market cap of $15.21 billion, a price-to-earnings ratio of 32.04, a price-to-earnings-growth ratio of 1.65 and a beta of 0.64.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued 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. Ryan Specialty had a net margin of 6.81% and a return on equity of 49.78%. The business had revenue of $855.17 million during the quarter, compared to analyst estimates of $837.52 million. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The business's revenue was up 23.0% compared to the same quarter last year. As a group, research analysts forecast that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, August 12th. Ryan Specialty's payout ratio is currently 137.14%.

Analyst Ratings Changes

Several analysts have commented on the stock. TD Cowen began coverage on shares of Ryan Specialty in a research note on Thursday, April 10th. They issued a "buy" rating and a $89.00 target price for the company. Barclays dropped their price target on shares of Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating for the company in a research report on Monday, July 7th. Morgan Stanley dropped their price objective on Ryan Specialty from $80.00 to $78.00 and set an "overweight" rating for the company in a report on Monday, July 14th. The Goldman Sachs Group raised 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. Finally, Wall Street Zen cut shares of Ryan Specialty from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $75.73.

Ryan Specialty 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.