Price T Rowe Associates Inc. MD Lowers Position in Ryan Specialty Holdings Inc. $RYAN

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Ryan Specialty Holdings Inc. by **10.8%**, selling **63,053 shares** during Q1, leaving them with approximately **520,094 shares** valued at **$38.42 million**.
• Ryan Specialty's quarterly revenue increased by **23.0% year-over-year**, reporting **$855.17 million**, with an EPS of **$0.66**, meeting analysts' expectations.
• Several institutional investors, including Vanguard and Principal Financial Group, increased their stakes in Ryan Specialty, with **84.82%** of the company's stock now owned by institutional investors.

Price T Rowe Associates Inc. MD lessened its holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 10.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 520,094 shares of the company's stock after selling 63,053 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.20% of Ryan Specialty worth $38,420,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. increased its position in Ryan Specialty by 281.6% during the first 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 during the last quarter. Golden State Wealth Management LLC bought a new position in Ryan Specialty during the first quarter valued at $35,000. Kapitalo Investimentos Ltda bought a new position in Ryan Specialty during the fourth quarter valued at $36,000. Fifth Third Bancorp increased its position in Ryan Specialty by 202.5% during the first quarter. Fifth Third Bancorp now owns 484 shares of the company's stock valued at $36,000 after acquiring an additional 324 shares during the last quarter. Finally, Covestor Ltd increased its position in Ryan Specialty by 404.7% during the first quarter. Covestor Ltd now owns 858 shares of the company's stock valued at $63,000 after acquiring an additional 688 shares during the last quarter. Institutional investors own 84.82% of the company's stock.

Insiders Place Their Bets

In related news, EVP Mark Stephen Katz sold 14,377 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $65.84, for a total value of $946,581.68. Following the completion of the sale, the executive vice president directly owned 1,117 shares of the company's stock, valued at $73,543.28. This represents a 92.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 52.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Ryan Specialty from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Citigroup assumed coverage on shares of Ryan Specialty in a research report on Wednesday, August 13th. They set a "buy" rating and a $74.00 price objective on the stock. UBS Group cut their price objective on shares of Ryan Specialty from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Barclays cut their price objective on shares of Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating on the stock in a research report on Monday, July 7th. Finally, Wells Fargo & Company cut their price target on shares of Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Ryan Specialty presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.83.

Ryan Specialty Trading Down 2.0%

Shares of NYSE RYAN traded down $1.11 during mid-day trading on Tuesday, reaching $55.42. The company had a trading volume of 968,427 shares, compared to its average volume of 1,163,601. The business's 50-day moving average is $62.17 and its 200-day moving average is $66.92. 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 stock has a market cap 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 0.63. Ryan Specialty Holdings Inc. has a 52 week low of $55.14 and a 52 week high of $77.16.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.66 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 net margin of 6.81% and a return on equity of 48.70%. The business's revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share. Equities analysts expect that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Announces Dividend

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

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.