Northern Trust Corp Sells 53,743 Shares of Ryan Specialty Holdings Inc. $RYAN

Key Points

• Northern Trust Corp reduced its stake in Ryan Specialty Holdings by 6% to own 837,369 shares, valued at approximately $61.86 million.
• Several other institutional investors increased their stakes significantly, with Principal Financial Group growing its ownership by 66.4% and Millennium Management by 1,111.4%.
• Ryan Specialty reported EPS of $0.66 for the last quarter, matching analyst expectations, and announced a quarterly dividend of $0.12 per share, equating to an annual yield of 0.8%.

Northern Trust Corp cut its stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 6.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 837,369 shares of the company's stock after selling 53,743 shares during the quarter. Northern Trust Corp owned 0.32% of Ryan Specialty worth $61,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Ryan Specialty by 21.8% during the 1st quarter. GAMMA Investing LLC now owns 2,101 shares of the company's stock valued at $155,000 after acquiring an additional 376 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Ryan Specialty by 3.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,215 shares of the company's stock valued at $902,000 after acquiring an additional 460 shares during the period. Wealth Alliance LLC purchased a new stake in Ryan Specialty during the 1st quarter valued at about $303,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Ryan Specialty during the 1st quarter valued at about $1,927,000. Finally, Sumitomo Life Insurance Co. bought a new position in Ryan Specialty during the 1st quarter valued at approximately $1,056,000. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Mark Stephen Katz sold 14,377 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $65.84, for a total transaction of $946,581.68. Following the completion of the transaction, the executive vice president owned 1,117 shares of the company's stock, valued at $73,543.28. This trade represents a 92.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David P. Bolger sold 5,000 shares of the firm's stock in a transaction that occurred 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 transaction, the director directly 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 company insiders.

Ryan Specialty Stock Down 0.3%

Shares of NYSE:RYAN traded down $0.18 during trading on Monday, hitting $56.47. The stock had a trading volume of 992,978 shares, compared to its average volume of 1,255,671. Ryan Specialty Holdings Inc. has a 12 month low of $55.77 and a 12 month high of $77.16. The company has a market capitalization of $14.89 billion, a PE ratio of 161.36, a PEG ratio of 1.57 and a beta of 0.64. The firm's fifty day moving average is $62.45 and its 200 day moving average is $67.00. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.88.

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

Ryan Specialty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, August 12th. Ryan Specialty's dividend payout ratio (DPR) is 137.14%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. The Goldman Sachs Group upgraded Ryan Specialty from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $74.00 to $81.00 in a report on Tuesday, May 13th. Citigroup assumed coverage on Ryan Specialty in a report on Wednesday, August 13th. They issued a "buy" rating and a $74.00 price objective for the company. Wells Fargo & Company dropped their price objective on Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Morgan Stanley dropped their price objective on Ryan Specialty from $71.00 to $68.00 and set an "overweight" rating for the company in a report on Monday, August 18th. Finally, Barclays dropped their price objective on Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating for the company in a report on Monday, July 7th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average 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.