Ryan Specialty Holdings Inc. $RYAN Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. has reduced its stake in Ryan Specialty Holdings Inc. by 3.8%, now holding approximately $89.6 million worth of shares.
• Ryan Specialty announced a quarterly dividend of $0.12 per share, translating to an annual yield of 0.9%, despite having a relatively high payout ratio of 137.14%.
• Research analysts have varied price targets for Ryan Specialty, with UBS Group lowering its target to $80.00 while Goldman Sachs raised it to $81.00, indicating ongoing interest and differing outlooks among investors.

Alliancebernstein L.P. lessened its holdings in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 3.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,213,317 shares of the company's stock after selling 48,166 shares during the quarter. Alliancebernstein L.P. owned about 0.46% of Ryan Specialty worth $89,628,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of Ryan Specialty by 66.4% in the first quarter. Principal Financial Group Inc. now owns 3,051,356 shares of the company's stock valued at $225,404,000 after acquiring an additional 1,218,147 shares in the last quarter. Millennium Management LLC increased its holdings in Ryan Specialty by 1,111.4% in the fourth quarter. Millennium Management LLC now owns 1,174,086 shares of the company's stock valued at $75,329,000 after buying an additional 1,077,169 shares during the last quarter. Invesco Ltd. boosted its position in shares of Ryan Specialty by 121.6% during the 1st quarter. Invesco Ltd. now owns 1,590,862 shares of the company's stock worth $117,517,000 after acquiring an additional 872,846 shares in the last quarter. Artemis Investment Management LLP acquired a new position in Ryan Specialty in the first quarter valued at approximately $57,023,000. Finally, Wellington Management Group LLP acquired a new stake in Ryan Specialty during the fourth quarter worth approximately $29,599,000. Institutional investors and hedge funds own 84.82% of the company's stock.

Insider Buying and Selling

In related news, EVP Mark Stephen Katz sold 14,377 shares of the stock in a transaction dated Friday, June 13th. The stock was 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 in the company, valued at approximately $73,543.28. This represents a 92.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 52.21% of the company's stock.

Ryan Specialty Price Performance

NYSE:RYAN traded down $1.62 during trading hours on Wednesday, reaching $51.01. 1,593,971 shares of the company traded hands, compared to its average volume of 1,084,178. The company has a debt-to-equity ratio of 2.88, a current ratio of 1.01 and a quick ratio of 1.01. The firm's 50-day moving average is $60.84 and its 200-day moving average is $66.43. The stock has a market cap of $13.45 billion, a P/E ratio of 145.69, a P/E/G ratio of 1.50 and a beta of 0.63. Ryan Specialty Holdings Inc. has a 1-year low of $50.08 and a 1-year high of $77.16.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.66 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 firm's quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 EPS. Equities research analysts expect that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.9%. Ryan Specialty's payout ratio is currently 137.14%.

Analyst Ratings Changes

RYAN has been the subject of several research analyst reports. UBS Group decreased their price objective on shares of Ryan Specialty from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Monday, August 4th. Barclays reduced their price objective on Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating for the company in a research note on Monday, July 7th. Cantor Fitzgerald upgraded shares of Ryan Specialty to a "hold" rating in a research report on Wednesday, August 13th. Morgan Stanley lowered their price objective 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, Wall Street Zen upgraded shares of Ryan Specialty from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $74.83.

About Ryan Specialty

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.