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

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

Several other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Ryan Specialty in the fourth quarter worth approximately $78,358,000. Millennium Management LLC increased its position in shares of Ryan Specialty by 1,111.4% in the fourth quarter. Millennium Management LLC now owns 1,174,086 shares of the company's stock worth $75,329,000 after purchasing an additional 1,077,169 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Ryan Specialty by 6,911.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 785,928 shares of the company's stock valued at $48,036,000 after acquiring an additional 774,718 shares during the last quarter. Artemis Investment Management LLP bought a new position in Ryan Specialty in the first quarter valued at $57,023,000. Finally, Vanguard Group Inc. increased its stake in Ryan Specialty by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 9,880,504 shares of the company's stock valued at $633,933,000 after acquiring an additional 529,631 shares during the last quarter. 84.82% of the stock is owned by institutional investors.

Insider Transactions at Ryan Specialty

In related news, Director David P. Bolger sold 5,000 shares of Ryan Specialty stock in a transaction 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 sale, the director owned 71,467 shares in the company, valued at $5,059,863.60. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Stephen Katz sold 14,377 shares of Ryan Specialty stock in a transaction 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 completion of the sale, the executive vice president owned 1,117 shares in the company, valued at approximately $73,543.28. This trade represents a 92.79% decrease in their position. The disclosure for this sale can be found here. 52.21% of the stock is owned by insiders.

Ryan Specialty Trading Down 2.0%

Shares of Ryan Specialty stock traded down $1.30 on Thursday, hitting $64.92. The stock had a trading volume of 145,320 shares, compared to its average volume of 920,046. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 3.45. Ryan Specialty Holdings Inc. has a one year low of $55.67 and a one year high of $77.16. The stock has a market cap of $17.04 billion, a price-to-earnings ratio of 190.79, a PEG ratio of 1.76 and a beta of 0.66. The stock's 50-day simple moving average is $68.14 and its two-hundred day simple moving average is $68.11.

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

Ryan Specialty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.74%. Ryan Specialty's dividend payout ratio is presently 141.18%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Morgan Stanley lifted their price target on Ryan Specialty from $78.00 to $80.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Keefe, Bruyette & Woods dropped their price target on Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. TD Cowen began coverage on shares of Ryan Specialty in a research report on Thursday, April 10th. They set a "buy" rating and a $89.00 price target on the stock. Barclays reduced 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 report on Monday. Finally, Wells Fargo & Company reduced their target price on shares of Ryan Specialty from $65.00 to $63.00 and set an "equal weight" rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.00.

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.