Raymond James Financial Inc. Sells 73,680 Shares of Ryan Specialty Holdings Inc. $RYAN

Key Points

• Raymond James Financial Inc. reduced its stake in Ryan Specialty Holdings Inc. by 5.0%, selling 73,680 shares, bringing its ownership to 1,398,949 shares valued at approximately $103.34 million.
• Vanguard Group Inc. and Invesco Ltd. significantly increased their holdings in Ryan Specialty by 4.0% and 121.6%, respectively, highlighting strong interest from institutional investors, who now own 84.82% of the stock.
• Ryan Specialty announced a quarterly dividend of $0.12, with a payout ratio of 137.14%, indicating the company's commitment to returning value to shareholders despite a relatively modest dividend yield of 0.8%.

Raymond James Financial Inc. reduced its position in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 5.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,398,949 shares of the company's stock after selling 73,680 shares during the quarter. Raymond James Financial Inc. owned 0.53% of Ryan Specialty worth $103,340,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RYAN. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Ryan Specialty by 281.6% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company's stock worth $25,000 after purchasing an additional 245 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Ryan Specialty in the 1st quarter worth about $35,000. Kapitalo Investimentos Ltda purchased a new stake in Ryan Specialty during the 4th quarter valued at about $36,000. Fifth Third Bancorp boosted its holdings in Ryan Specialty by 202.5% during the 1st 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 period. Finally, Covestor Ltd boosted its holdings in Ryan Specialty by 404.7% during the 1st quarter. Covestor Ltd now owns 858 shares of the company's stock valued at $63,000 after acquiring an additional 688 shares during the period. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ryan Specialty

In other news, EVP Mark Stephen Katz sold 14,377 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $73,543.28. This represents a 92.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David P. Bolger sold 5,000 shares of the firm's 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 transaction, the director directly owned 71,467 shares of the company's stock, valued at approximately $5,059,863.60. This trade represents a 6.54% decrease in their position. The disclosure for this sale can be found here. 52.21% of the stock is currently owned by corporate insiders.

Ryan Specialty Stock Up 0.1%

Shares of NYSE:RYAN traded up $0.0360 during trading on Thursday, hitting $59.7960. The stock had a trading volume of 1,075,486 shares, compared to its average volume of 1,561,781. Ryan Specialty Holdings Inc. has a 12 month low of $55.77 and a 12 month high of $77.16. The company has a market capitalization of $15.77 billion, a PE ratio of 170.85, a PEG ratio of 1.65 and a beta of 0.64. The firm's fifty day moving average is $63.74 and its 200 day moving average is $67.53. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.88.

Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.66 earnings per share (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 during the quarter, compared to analyst estimates of $837.52 million. During the same quarter in the prior year, the company earned $0.58 EPS. The business's revenue was up 23.0% compared to the same quarter last year. Analysts anticipate that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be given a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.8%. Ryan Specialty's dividend payout ratio is currently 137.14%.

Analyst Ratings Changes

Several brokerages recently weighed in on RYAN. UBS Group dropped their target price on Ryan Specialty from $84.00 to $80.00 and set a "buy" rating for the company in a report on Monday, August 4th. Wells Fargo & Company dropped their target price on Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. The Goldman Sachs Group upgraded Ryan Specialty from a "neutral" rating to a "buy" rating and increased their target price for the company from $74.00 to $81.00 in a report on Tuesday, May 13th. Cantor Fitzgerald upgraded Ryan Specialty to a "hold" rating in a report on Wednesday, August 13th. Finally, Morgan Stanley dropped their price objective on Ryan Specialty from $71.00 to $68.00 and set an "overweight" rating for the company in a report on Monday. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.83.

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.