Ryan Specialty Holdings Inc. (NYSE:RYAN) Stake Cut by Victory Capital Management Inc.

Victory Capital Management Inc. cut its position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 90.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,699 shares of the company's stock after selling 613,807 shares during the quarter. Victory Capital Management Inc.'s holdings in Ryan Specialty were worth $5,001,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. lifted its stake 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 worth $25,000 after purchasing an additional 245 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Ryan Specialty during the first quarter worth $35,000. Fifth Third Bancorp lifted its stake in Ryan Specialty by 202.5% during the first quarter. Fifth Third Bancorp now owns 484 shares of the company's stock worth $36,000 after purchasing an additional 324 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in Ryan Specialty during the fourth quarter worth $36,000. Finally, Mizuho Bank Ltd. bought a new position in Ryan Specialty during the fourth quarter worth $49,000. 84.82% of the stock is currently owned by institutional investors.

Ryan Specialty Stock Up 2.8%

Shares of Ryan Specialty stock opened at $66.23 on Friday. The business's fifty day moving average price is $67.31 and its two-hundred day moving average price is $68.32. The company has a debt-to-equity ratio of 3.45, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $17.38 billion, a P/E ratio of 194.78, a PEG ratio of 1.79 and a beta of 0.66. Ryan Specialty Holdings Inc. has a 1-year low of $59.13 and a 1-year high of $77.16.

Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.39 earnings per share for the quarter, meeting the consensus estimate of $0.39. The firm had revenue of $690.17 million for the quarter, compared to the consensus estimate of $680.80 million. Ryan Specialty had a return on equity of 47.70% and a net margin of 6.97%. The firm's revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 EPS. As a group, research analysts forecast that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current year.

Ryan Specialty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.72%. The ex-dividend date was Tuesday, May 13th. Ryan Specialty's payout ratio is currently 141.18%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. TD Cowen started coverage on Ryan Specialty in a research note on Thursday, April 10th. They set a "buy" rating and a $89.00 price objective on the stock. The Goldman Sachs Group upgraded Ryan Specialty from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $74.00 to $81.00 in a research report on Tuesday, May 13th. Morgan Stanley reduced their price objective on Ryan Specialty from $80.00 to $78.00 and set an "overweight" rating for the company in a research report on Monday, July 14th. Wall Street Zen lowered Ryan Specialty from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Keefe, Bruyette & Woods reduced their price objective on Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Two equities research 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 currently has an average rating of "Moderate Buy" and an average price target of $76.00.

Insider Buying and Selling at Ryan Specialty

In other news, EVP Mark Stephen Katz sold 14,377 shares of the company's stock in a transaction 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 sale, the executive vice president owned 1,117 shares in the company, valued at $73,543.28. This represents a 92.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director David P. Bolger sold 5,000 shares of the company's stock in a transaction 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 completion of the sale, the director 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 owned by insiders.

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.

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