Zimmer Partners LP Sells 377,993 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Zimmer Partners LP reduced its holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 9.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,700,000 shares of the company's stock after selling 377,993 shares during the period. Ryan Specialty makes up about 4.1% of Zimmer Partners LP's investment portfolio, making the stock its 7th largest position. Zimmer Partners LP owned about 1.41% of Ryan Specialty worth $237,392,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RYAN. Rakuten Securities Inc. acquired a new stake in Ryan Specialty in the 4th quarter valued at $27,000. Kapitalo Investimentos Ltda bought a new stake in Ryan Specialty in the fourth quarter valued at about $36,000. Principal Securities Inc. increased its holdings in shares of Ryan Specialty by 164.7% in the fourth quarter. Principal Securities Inc. now owns 667 shares of the company's stock worth $43,000 after acquiring an additional 415 shares in the last quarter. Mizuho Bank Ltd. bought a new stake in shares of Ryan Specialty in the fourth quarter worth about $49,000. Finally, Headlands Technologies LLC boosted its position in shares of Ryan Specialty by 2,644.8% during the fourth quarter. Headlands Technologies LLC now owns 796 shares of the company's stock worth $51,000 after buying an additional 767 shares during the period. Institutional investors and hedge funds own 84.82% of the company's stock.

Insiders Place Their Bets

In other news, EVP Brendan Martin Mulshine sold 30,000 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $69.30, for a total value of $2,079,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 52.21% of the company's stock.

Ryan Specialty Price Performance

Shares of RYAN traded down $0.03 during midday trading on Friday, hitting $68.69. The company's stock had a trading volume of 548,694 shares, compared to its average volume of 985,615. Ryan Specialty Holdings, Inc. has a one year low of $52.34 and a one year high of $77.16. The company's fifty day simple moving average is $70.10 and its two-hundred day simple moving average is $68.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. The stock has a market capitalization of $18.03 billion, a price-to-earnings ratio of 99.56, a price-to-earnings-growth ratio of 1.19 and a beta of 0.68.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.39 earnings per share for the quarter, hitting analysts' consensus estimates of $0.39. The business had revenue of $690.17 million for the quarter, compared to analyst estimates of $680.80 million. Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. Ryan Specialty's quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS. As a group, equities analysts expect that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Tuesday, May 13th. Ryan Specialty's payout ratio is presently 141.18%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wells Fargo & Company reduced their price target on Ryan Specialty from $69.00 to $66.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Keefe, Bruyette & Woods cut 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. The Goldman Sachs Group raised Ryan Specialty from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $74.00 to $81.00 in a report on Tuesday, May 13th. TD Cowen started coverage on Ryan Specialty in a report on Thursday, April 10th. They set a "buy" rating and a $89.00 price target for the company. Finally, Barclays lowered their price objective on Ryan Specialty from $88.00 to $83.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $75.58.

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.