Price T Rowe Associates Inc. MD Sells 63,053 Shares of 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 filing with the Securities and Exchange Commission. The fund owned 520,094 shares of the company's stock after selling 63,053 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.20% of Ryan Specialty worth $38,420,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Ryan Specialty by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 10,271,428 shares of the company's stock worth $758,750,000 after acquiring an additional 390,924 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Ryan Specialty by 66.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,051,356 shares of the company's stock worth $225,404,000 after acquiring an additional 1,218,147 shares during the last quarter. Blair William & Co. IL boosted its stake in Ryan Specialty by 0.7% during the 1st quarter. Blair William & Co. IL now owns 2,784,916 shares of the company's stock worth $205,722,000 after acquiring an additional 18,953 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Ryan Specialty by 0.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,378,573 shares of the company's stock worth $175,706,000 after acquiring an additional 12,573 shares during the last quarter. Finally, Stephens Investment Management Group LLC boosted its stake in Ryan Specialty by 2.2% during the 1st quarter. Stephens Investment Management Group LLC now owns 1,642,527 shares of the company's stock worth $121,333,000 after acquiring an additional 34,932 shares during the last quarter. Institutional investors own 84.82% of the company's stock.

Ryan Specialty Stock Performance

Shares of RYAN stock opened at $57.48 on Thursday. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $15.16 billion, a P/E ratio of 164.23, a price-to-earnings-growth ratio of 1.61 and a beta of 0.64. The company's 50 day moving average price is $63.11 and its two-hundred day moving average price is $67.24. Ryan Specialty Holdings Inc. has a 52 week low of $55.77 and a 52 week high of $77.16.

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. The firm had revenue of $855.17 million for the quarter, compared to the consensus estimate of $837.52 million. Ryan Specialty had a net margin of 6.81% and a return on equity of 48.70%. The business's quarterly revenue was up 23.0% on a year-over-year basis. During the same period last year, the company posted $0.58 EPS. On average, analysts expect that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were issued a $0.12 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.8%. Ryan Specialty's dividend payout ratio (DPR) is 137.14%.

Insider Buying and Selling

In other news, Director David P. Bolger sold 5,000 shares of Ryan Specialty stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $70.80, for a total value of $354,000.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Stephen Katz sold 14,377 shares of Ryan Specialty stock in a transaction that occurred on 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 sale, 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 disclosure for this sale can be found here. 52.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RYAN. Wells Fargo & Company reduced their price objective on shares of Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. The Goldman Sachs Group raised shares of Ryan Specialty from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $74.00 to $81.00 in a research note on Tuesday, May 13th. Citigroup began coverage on shares of Ryan Specialty in a research note on Wednesday, August 13th. They set a "buy" rating and a $74.00 price objective on the stock. Barclays reduced 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 note on Monday, July 7th. Finally, Cantor Fitzgerald upgraded shares of Ryan Specialty to a "hold" rating in a report on Wednesday, August 13th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $74.83.

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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