Thornburg Investment Management Inc. Has $6.80 Million Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Thornburg Investment Management Inc. reduced its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 9.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,989 shares of the company's stock after selling 10,536 shares during the quarter. Thornburg Investment Management Inc.'s holdings in Ryan Specialty were worth $6,800,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Ryan Specialty during the fourth quarter worth about $94,484,000. Norges Bank acquired a new position in Ryan Specialty during the 4th quarter valued at about $78,358,000. Millennium Management LLC grew its position in Ryan Specialty by 1,111.4% in the 4th 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. Principal Financial Group Inc. increased its stake in shares of Ryan Specialty by 115.2% in the fourth quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company's stock valued at $117,619,000 after purchasing an additional 981,505 shares during the period. Finally, CIBC Private Wealth Group LLC increased its stake in shares of 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 purchasing an additional 774,718 shares during the period. 84.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on RYAN shares. Wells Fargo & Company reduced their price objective on Ryan Specialty from $69.00 to $66.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Royal Bank of Canada reduced their price target on Ryan Specialty from $73.00 to $72.00 and set a "sector perform" rating for the company in a research report on Friday, February 21st. Barclays lowered their price target on Ryan Specialty from $88.00 to $83.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. UBS Group upped their price objective on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Finally, TD Cowen began coverage on shares of Ryan Specialty in a research report on Thursday, April 10th. They issued a "buy" rating and a $89.00 target price for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $75.58.

Insider Buying and Selling at Ryan Specialty

In other news, EVP Brendan Martin Mulshine sold 30,000 shares of Ryan Specialty stock in a transaction on Friday, March 14th. The stock was sold at an average price of $69.30, for a total transaction of $2,079,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 11.10% of the company's stock.

Ryan Specialty Price Performance

Shares of NYSE RYAN traded down $1.70 during midday trading on Wednesday, reaching $68.89. The company's stock had a trading volume of 970,798 shares, compared to its average volume of 983,412. Ryan Specialty Holdings, Inc. has a one year low of $52.34 and a one year high of $77.16. The company has a market cap of $18.08 billion, a price-to-earnings ratio of 99.84, a price-to-earnings-growth ratio of 1.19 and a beta of 0.68. The company has a 50 day moving average price of $70.22 and a 200 day moving average price of $68.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. The company had revenue of $690.17 million for the quarter, compared to analysts' expectations of $680.80 million. Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. The firm's revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 earnings per share. On average, equities 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 disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.48 annualized dividend and a yield of 0.70%. Ryan Specialty's payout ratio is presently 141.18%.

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.