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 cut its stake in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 47.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,962,500 shares of the company's stock after selling 1,737,500 shares during the quarter. Ryan Specialty makes up approximately 2.7% of Zimmer Partners LP's investment portfolio, making the stock its 9th largest holding. Zimmer Partners LP owned approximately 0.75% of Ryan Specialty worth $144,970,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RYAN. Whittier Trust Co. of Nevada Inc. raised its position in shares of Ryan Specialty by 281.6% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company's stock valued at $25,000 after purchasing an additional 245 shares during the period. SVB Wealth LLC bought a new position in shares of Ryan Specialty in the first quarter valued at about $26,000. WPG Advisers LLC bought a new position in shares of Ryan Specialty in the first quarter valued at about $32,000. Golden State Wealth Management LLC bought a new position in Ryan Specialty during the first quarter worth about $35,000. Finally, Fifth Third Bancorp increased its position 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 acquiring an additional 324 shares during the period. 84.82% of the stock is owned by institutional investors.

Ryan Specialty Price Performance

RYAN stock traded down $0.06 during mid-day trading on Friday, hitting $51.63. The stock had a trading volume of 1,837,735 shares, compared to its average volume of 1,230,117. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.88. Ryan Specialty Holdings Inc. has a 52 week low of $50.08 and a 52 week high of $77.16. The firm has a market capitalization of $13.61 billion, a P/E ratio of 147.52, a P/E/G ratio of 1.44 and a beta of 0.64. The firm has a fifty day simple moving average of $59.96 and a 200 day simple moving average of $66.04.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.66 EPS for the quarter, meeting the consensus estimate of $0.66. Ryan Specialty had a net margin of 6.81% and a return on equity of 48.70%. The firm had revenue of $855.17 million for the quarter, compared to analyst estimates of $837.52 million. During the same period last year, the firm earned $0.58 EPS. The business's quarterly revenue was up 23.0% compared to the same quarter last year. As a group, research analysts forecast that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current year.

Ryan Specialty Announces Dividend

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 $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, August 12th. Ryan Specialty's dividend payout ratio (DPR) is currently 137.14%.

Analyst Upgrades and Downgrades

RYAN has been the topic of a number of recent research reports. UBS Group lowered their price target on shares of Ryan Specialty from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Wells Fargo & Company lowered their price target on shares of Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Barclays lowered their price target 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. Morgan Stanley lowered their price target on shares of Ryan Specialty from $71.00 to $68.00 and set an "overweight" rating on the stock in a research report on Monday, August 18th. Finally, Cantor Fitzgerald raised shares of Ryan Specialty to a "hold" rating in a research report on Wednesday, August 13th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $74.83.

Ryan Specialty 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.