Federated Hermes Inc. Sells 121,111 Shares of Ryan Specialty Holdings Inc. (NYSE:RYAN)

Key Points

• Federated Hermes Inc. reduced its stake in Ryan Specialty Holdings by 18.4%, selling 121,111 shares and retaining 535,852 shares worth approximately $39.58 million.
• Ryan Specialty recently reported a 25% year-over-year increase in revenue, posting $690.17 million, and met earnings expectations with $0.39 EPS.
• Analyst ratings for Ryan Specialty are mixed, with a consensus of eight buy ratings, two hold ratings, and two sell ratings, and the current target price is set at $76.00.

Federated Hermes Inc. reduced its position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 18.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 535,852 shares of the company's stock after selling 121,111 shares during the quarter. Federated Hermes Inc. owned 0.20% of Ryan Specialty worth $39,583,000 at the end of the most recent reporting period.

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

Insider Transactions at Ryan Specialty

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

Analysts Set New Price Targets

Several research analysts have issued reports on RYAN shares. The Goldman Sachs Group upgraded shares of Ryan Specialty from a "neutral" rating to a "buy" rating and raised their price target for the stock from $74.00 to $81.00 in a report on Tuesday, May 13th. Wells Fargo & Company lowered their price objective on shares of Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating for the company in a research note on Friday. Wall Street Zen lowered shares of Ryan Specialty from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Keefe, Bruyette & Woods lowered their price objective on shares of Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Finally, Barclays lowered 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. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Ryan Specialty has a consensus rating of "Moderate Buy" and an average price target of $75.73.

Ryan Specialty Stock Performance

Shares of NYSE:RYAN traded down $3.22 during midday trading on Friday, reaching $57.97. The company had a trading volume of 4,994,985 shares, compared to its average volume of 1,086,969. The company's 50 day moving average price is $66.47 and its 200 day moving average price is $68.20. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 3.45. The stock has a market cap of $15.21 billion, a P/E ratio of 165.63, a P/E/G ratio of 1.65 and a beta of 0.64. 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 issued its quarterly earnings results on Thursday, July 31st. The company reported $0.66 earnings per share 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 company had revenue of $855.17 million for the quarter, compared to the consensus estimate of $837.52 million. During the same period in the previous year, the firm earned $0.58 EPS. The firm's quarterly revenue was up 23.0% on a year-over-year basis. As a group, sell-side analysts anticipate 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 paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, August 12th. Ryan Specialty's payout ratio is currently 137.14%.

Ryan Specialty Company 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.