Zimmer Partners LP Sells 1,737,500 Shares of Ryan Specialty Holdings Inc. $RYAN

Key Points

• Zimmer Partners LP has reduced its stake in Ryan Specialty Holdings Inc. by 47.0% in Q1, now holding 1,962,500 shares, which makes up about 2.7% of their portfolio.
• Ryan Specialty recently reported a quarterly EPS of $0.66, matching analyst expectations, with a 23.0% year-over-year increase in revenue.
• Analysts maintain a consensus rating of "Moderate Buy" for Ryan Specialty with an average target price of $74.83.

Zimmer Partners LP trimmed its stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 47.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,962,500 shares of the company's stock after selling 1,737,500 shares during the period. Ryan Specialty makes up about 2.7% of Zimmer Partners LP's investment portfolio, making the stock its 9th biggest position. Zimmer Partners LP owned approximately 0.75% of Ryan Specialty worth $144,970,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Ryan Specialty by 21.8% during the first quarter. GAMMA Investing LLC now owns 2,101 shares of the company's stock worth $155,000 after purchasing an additional 376 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of Ryan Specialty by 14.4% during the first quarter. Hsbc Holdings PLC now owns 4,182 shares of the company's stock worth $309,000 after purchasing an additional 528 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Ryan Specialty by 3.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,215 shares of the company's stock worth $902,000 after purchasing an additional 460 shares in the last quarter. Wealth Alliance LLC acquired a new position in shares of Ryan Specialty during the first quarter worth approximately $303,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Ryan Specialty during the first quarter worth approximately $1,927,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Ryan Specialty Stock Down 0.1%

RYAN stock traded down $0.06 during trading hours on Friday, reaching $51.63. 1,837,735 shares of the stock were exchanged, compared to its average volume of 1,100,434. The firm's 50-day moving average is $60.25 and its 200-day moving average is $66.21. The company has a market cap of $13.61 billion, a price-to-earnings ratio of 147.52, a PEG ratio of 1.42 and a beta of 0.63. The company has a debt-to-equity ratio of 2.88, a current ratio of 1.01 and a quick ratio of 1.01. Ryan Specialty Holdings Inc. has a 12 month low of $50.08 and a 12 month high of $77.16.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.66 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.66. The firm had revenue of $855.17 million during the quarter, compared to analysts' expectations of $837.52 million. Ryan Specialty had a return on equity of 48.70% and a net margin of 6.81%.The company's revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 EPS. On average, equities research analysts expect that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, August 12th. Ryan Specialty's dividend payout ratio is 137.14%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RYAN. Barclays reduced their target price on shares of Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating on the stock in a research report on Monday, July 7th. Wall Street Zen upgraded shares of Ryan Specialty from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Wells Fargo & Company cut their price objective on shares of Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Morgan Stanley cut their price objective on shares of Ryan Specialty from $71.00 to $68.00 and set an "overweight" rating on the stock in a report on Monday, August 18th. Finally, Cantor Fitzgerald upgraded shares of Ryan Specialty to a "hold" rating in a report on Wednesday, August 13th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $74.83.

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.