Ryan Specialty Holdings Inc. $RYAN Shares Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth cut its Ryan Specialty stake by 28.6% in the second quarter, selling 51,626 shares and retaining 129,094 shares worth approximately $4.9 million. Institutional investors and hedge funds collectively own 84.82% of the company.
• Analyst sentiment is mixed, with eight Buy, ten Hold and one Sell rating. Ryan Specialty has an average rating of “Hold” and an average price target of $52.97, compared with shares opening at $40.18.
• Ryan Specialty beat quarterly expectations, reporting adjusted earnings of $0.74 per share versus a $0.60 consensus and revenue of $916.65 million. The company also authorized a $300 million share buyback and pays a quarterly dividend of $0.13.

Corient Private Wealth LP lessened its stake in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 28.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 129,094 shares of the company's stock after selling 51,626 shares during the period. Corient Private Wealth LP owned about 0.05% of Ryan Specialty worth $4,875,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in shares of Ryan Specialty by 54.9% in the 1st quarter. Parallel Advisors LLC now owns 1,013 shares of the company's stock worth $34,000 after purchasing an additional 359 shares during the last quarter. Covestor Ltd raised its stake in Ryan Specialty by 16.8% during the fourth quarter. Covestor Ltd now owns 1,467 shares of the company's stock valued at $76,000 after buying an additional 211 shares in the last quarter. KERR FINANCIAL PLANNING Corp raised its stake in Ryan Specialty by 83.7% during the first quarter. KERR FINANCIAL PLANNING Corp now owns 2,203 shares of the company's stock valued at $77,000 after buying an additional 1,004 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Ryan Specialty by 491.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,532 shares of the company's stock valued at $79,000 after buying an additional 1,273 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Ryan Specialty by 90.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,107 shares of the company's stock worth $80,000 after buying an additional 999 shares during the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RYAN. Atlantic Securities set a $69.00 target price on Ryan Specialty in a research report on Wednesday, July 15th. Cantor Fitzgerald raised their price objective on Ryan Specialty from $34.00 to $41.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Morgan Stanley raised their price objective on Ryan Specialty from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 19th. Piper Sandler lifted their price objective on shares of Ryan Specialty from $44.00 to $48.00 and gave the stock a "neutral" rating in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Ryan Specialty from $39.00 to $45.00 and gave the company an "underweight" rating in a research note on Monday, August 3rd. Eight equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Ryan Specialty currently has an average rating of "Hold" and an average target price of $52.97.

Ryan Specialty Stock Performance

Shares of RYAN opened at $40.18 on Friday. Ryan Specialty Holdings Inc. has a 1 year low of $29.28 and a 1 year high of $59.19. The company has a market cap of $10.28 billion, a price-to-earnings ratio of 55.80, a price-to-earnings-growth ratio of 0.80 and a beta of 0.57. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a fifty day moving average of $42.15 and a 200-day moving average of $37.57.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.14. The firm had revenue of $916.65 million for the quarter, compared to the consensus estimate of $873.93 million. Ryan Specialty had a net margin of 7.55% and a return on equity of 43.97%. Ryan Specialty's quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $0.66 EPS. As a group, equities analysts anticipate that Ryan Specialty Holdings Inc. will post 2.18 earnings per share for the current year.

Ryan Specialty declared that its Board of Directors has initiated a share buyback program on Tuesday, May 26th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to buy up to 3.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its stock is undervalued.

Ryan Specialty Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, August 11th. Ryan Specialty's dividend payout ratio is 72.22%.

About Ryan Specialty

Ryan Specialty Holdings, Inc is a global specialty insurance organization that provides distribution, underwriting and product-development solutions for complex, hard-to-place risks. The company primarily serves insurance brokers, agents, carriers and other market participants that require specialized expertise, capacity and tailored coverage.

Its businesses include wholesale brokerage, managing general underwriting and delegated underwriting operations, as well as specialty insurance products and services.

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