Ryan Specialty Holdings Inc. (NYSE:RYAN) Shares Sold by Thornburg Investment Management Inc.

Key Points

• Thornburg Investment Management Inc. reduced its stake in Ryan Specialty Holdings by 7.9%, selling 8,380 shares and leaving them with 97,609 shares valued at $7.21 million.
• Ryan Specialty's quarterly results showed earnings per share of $0.39, matching analyst expectations, and a 25% increase in revenue compared to the previous year, totaling $690.17 million.
• The company declared a quarterly dividend of $0.12 per share, representing a dividend yield of 0.73%, with a payout ratio currently at 141.18%.

Thornburg Investment Management Inc. trimmed its position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 7.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,609 shares of the company's stock after selling 8,380 shares during the quarter. Thornburg Investment Management Inc.'s holdings in Ryan Specialty were worth $7,210,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Mackenzie Financial Corp purchased a new position in Ryan Specialty during the first quarter worth $344,000. Bryce Point Capital LLC purchased a new position in Ryan Specialty during the first quarter worth $731,000. LPL Financial LLC boosted its stake in Ryan Specialty by 15.3% during the first quarter. LPL Financial LLC now owns 37,897 shares of the company's stock worth $2,799,000 after buying an additional 5,033 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Ryan Specialty by 3.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,104 shares of the company's stock worth $2,076,000 after buying an additional 836 shares during the period. Finally, HB Wealth Management LLC purchased a new position in Ryan Specialty during the first quarter worth $4,149,000. 84.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director David P. Bolger sold 5,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $70.80, for a total transaction of $354,000.00. Following the transaction, the director owned 71,467 shares in the company, valued at $5,059,863.60. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $946,581.68. Following the transaction, the executive vice president owned 1,117 shares in the company, valued at approximately $73,543.28. This trade represents a 92.79% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 52.21% of the company's stock.

Ryan Specialty Stock Down 5.3%

Shares of RYAN stock traded down $3.22 during mid-day trading on Friday, hitting $57.97. 4,994,985 shares of the stock traded hands, compared to its average volume of 1,055,170. The stock has a market cap of $15.21 billion, a P/E ratio of 170.50, a P/E/G ratio of 1.63 and a beta of 0.66. The stock's fifty day moving average is $66.68 and its two-hundred day moving average is $68.25. Ryan Specialty Holdings Inc. has a 52-week low of $55.77 and a 52-week high of $77.16. 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 (NYSE:RYAN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.66 EPS for the quarter, meeting the consensus estimate of $0.66. The business had revenue of $855.17 million during the quarter, compared to analyst estimates of $837.52 million. Ryan Specialty had a net margin of 6.97% and a return on equity of 47.70%. The company's quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 earnings per share. Equities analysts predict that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current year.

Ryan Specialty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be issued a dividend of $0.12 per share. The ex-dividend date 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 137.14%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Barclays dropped their price objective on shares of Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating for the company in a research note on Monday, July 7th. The Goldman Sachs Group upgraded shares of Ryan Specialty from a "neutral" rating to a "buy" rating and upped their price target for the stock from $74.00 to $81.00 in a report on Tuesday, May 13th. Morgan Stanley cut their price target on shares of Ryan Specialty from $80.00 to $78.00 and set an "overweight" rating on the stock in a report on Monday, July 14th. TD Cowen initiated coverage on shares of Ryan Specialty in a report on Thursday, April 10th. They issued a "buy" rating and a $89.00 price target on the stock. Finally, Wall Street Zen cut shares of Ryan Specialty from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.73.

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.