Ryan Specialty Holdings Inc. (NYSE:RYAN) Stake Reduced by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 37.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,626 shares of the company's stock after selling 25,753 shares during the quarter. Teacher Retirement System of Texas' holdings in Ryan Specialty were worth $3,149,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. bought a new position in Ryan Specialty in the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC bought a new position in Ryan Specialty in the first quarter valued at approximately $35,000. Kapitalo Investimentos Ltda acquired a new stake in Ryan Specialty in the fourth quarter worth $36,000. Fifth Third Bancorp raised its holdings in Ryan Specialty by 202.5% in the first quarter. Fifth Third Bancorp now owns 484 shares of the company's stock worth $36,000 after purchasing an additional 324 shares during the period. Finally, Mizuho Bank Ltd. acquired a new stake in Ryan Specialty in the fourth quarter worth $49,000. 84.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. TD Cowen assumed coverage on shares of Ryan Specialty in a report on Thursday, April 10th. They set a "buy" rating and a $89.00 price objective on the stock. 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 note on Monday. The Goldman Sachs Group upgraded shares of Ryan Specialty from a "neutral" rating to a "buy" rating and lifted their price target for the company from $74.00 to $81.00 in a research note on Tuesday, May 13th. Wells Fargo & Company lowered their price objective on shares of Ryan Specialty from $69.00 to $66.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $75.25.

Ryan Specialty Stock Up 0.2%

Shares of NYSE:RYAN traded up $0.12 during trading hours on Wednesday, hitting $66.11. The company's stock had a trading volume of 1,244,343 shares, compared to its average volume of 1,011,918. The firm's fifty day moving average price is $68.13 and its 200 day moving average price is $68.12. The company has a debt-to-equity ratio of 3.45, a current ratio of 1.05 and a quick ratio of 1.05. Ryan Specialty Holdings Inc. has a 52 week low of $55.67 and a 52 week high of $77.16. The company has a market capitalization of $17.35 billion, a price-to-earnings ratio of 194.44, a P/E/G ratio of 1.77 and a beta of 0.66.

Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.39. The firm had revenue of $690.17 million for the quarter, compared to the consensus estimate of $680.80 million. Ryan Specialty had a net margin of 6.97% and a return on equity of 47.70%. The firm's quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 earnings per share. As a group, research analysts expect that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current year.

Ryan Specialty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend was Tuesday, May 13th. Ryan Specialty's dividend payout ratio is presently 141.18%.

Insider Transactions at Ryan Specialty

In other news, Director David P. Bolger sold 5,000 shares of the business'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 transaction of $354,000.00. Following the completion of the sale, the director owned 71,467 shares in the company, valued at approximately $5,059,863.60. The trade was a 6.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Stephen Katz sold 14,377 shares of the company's stock in a transaction 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 transaction, the executive vice president owned 1,117 shares of the company's stock, valued at approximately $73,543.28. The trade was a 92.79% decrease in their position. The disclosure for this sale can be found here. 52.21% of the stock is owned by company insiders.

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.