Northern Trust Corp Cuts Holdings in 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 trimmed its position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 6.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 837,369 shares of the company's stock after selling 53,743 shares during the period. Northern Trust Corp owned approximately 0.32% of Ryan Specialty worth $61,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of RYAN. Mariner LLC raised its holdings in shares of Ryan Specialty by 3.4% during the 4th quarter. Mariner LLC now owns 5,278 shares of the company's stock worth $339,000 after acquiring an additional 172 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Ryan Specialty by 14.2% during the 4th quarter. Stifel Financial Corp now owns 106,313 shares of the company's stock worth $6,821,000 after acquiring an additional 13,239 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Ryan Specialty by 16.4% during the 4th quarter. Hsbc Holdings PLC now owns 3,654 shares of the company's stock worth $234,000 after acquiring an additional 514 shares in the last quarter. Susquehanna International Group LLP raised its holdings in shares of Ryan Specialty by 31.1% during the 4th quarter. Susquehanna International Group LLP now owns 39,593 shares of the company's stock worth $2,540,000 after acquiring an additional 9,393 shares in the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of Ryan Specialty by 116.0% during the 4th quarter. Voya Investment Management LLC now owns 103,029 shares of the company's stock worth $6,610,000 after acquiring an additional 55,336 shares in the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RYAN has been the subject of a number of recent research reports. Cantor Fitzgerald upgraded Ryan Specialty to a "hold" rating in a report on Wednesday, August 13th. Wall Street Zen raised shares of Ryan Specialty from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. The Goldman Sachs Group raised shares of Ryan Specialty from a "neutral" rating to a "buy" rating and increased their target price for the company from $74.00 to $81.00 in a research note on Tuesday, May 13th. UBS Group reduced their target price on shares of Ryan Specialty from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Finally, Morgan Stanley reduced their target price on shares of Ryan Specialty from $71.00 to $68.00 and set an "overweight" rating on the stock in a research note on Monday, August 18th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $74.83.

Ryan Specialty Trading Down 0.3%

Shares of NYSE RYAN traded down $0.18 during midday trading on Friday, hitting $56.47. The company's stock had a trading volume of 992,978 shares, compared to its average volume of 1,455,772. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.88. The firm has a market cap of $14.89 billion, a P/E ratio of 161.36, a price-to-earnings-growth ratio of 1.58 and a beta of 0.64. The business's 50 day moving average is $62.69 and its two-hundred day moving average is $67.09. Ryan Specialty Holdings Inc. has a 12-month low of $55.77 and a 12-month high of $77.16.

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

Ryan Specialty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were issued a $0.12 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.8%. Ryan Specialty's payout ratio is presently 137.14%.

Insider Buying and Selling

In related news, EVP Mark Stephen Katz sold 14,377 shares of Ryan Specialty stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $65.84, for a total transaction of $946,581.68. Following the transaction, the executive vice president directly owned 1,117 shares of the company's stock, valued at $73,543.28. This trade represents a 92.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director David P. Bolger sold 5,000 shares of Ryan Specialty stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $70.80, for a total transaction of $354,000.00. Following the transaction, the director directly owned 71,467 shares in the company, valued at approximately $5,059,863.60. The trade was a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 52.21% of the stock is currently owned by insiders.

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.