Ryan Specialty Holdings, Inc. (NYSE:RYAN) Shares Sold by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. decreased its position in Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 9.0% in the fourth quarter, according to 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 period. Thornburg Investment Management Inc.'s holdings in Ryan Specialty were worth $6,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RYAN. Mariner LLC increased its holdings in Ryan Specialty by 3.4% in the 4th quarter. Mariner LLC now owns 5,278 shares of the company's stock worth $339,000 after buying an additional 172 shares during the period. Sanctuary Advisors LLC lifted its stake in Ryan Specialty by 1.2% during the 4th quarter. Sanctuary Advisors LLC now owns 15,690 shares of the company's stock valued at $1,045,000 after acquiring an additional 188 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Ryan Specialty by 1.6% in the 4th quarter. State of Alaska Department of Revenue now owns 12,130 shares of the company's stock valued at $778,000 after acquiring an additional 190 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Ryan Specialty by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 3,674 shares of the company's stock worth $236,000 after acquiring an additional 196 shares during the period. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Ryan Specialty by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 44,990 shares of the company's stock worth $2,887,000 after purchasing an additional 280 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company's stock.

Insider Activity

In related news, EVP Brendan Martin Mulshine sold 30,000 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 11.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. The Goldman Sachs Group raised Ryan Specialty from a "neutral" rating to a "buy" rating and increased their price target for the stock from $74.00 to $81.00 in a research report on Tuesday, May 13th. Barclays decreased their price target on Ryan Specialty from $88.00 to $83.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Keefe, Bruyette & Woods lowered their price target on shares of Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. UBS Group upped their price objective on shares of Ryan Specialty from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Finally, TD Cowen initiated coverage on Ryan Specialty in a report on Thursday, April 10th. They set a "buy" rating and a $89.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Ryan Specialty presently has an average rating of "Moderate Buy" and a consensus target price of $75.58.

Ryan Specialty Stock Performance

Shares of NYSE RYAN traded up $0.24 during mid-day trading on Friday, hitting $68.96. 99,072 shares of the company were exchanged, compared to its average volume of 979,457. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. The firm has a market cap of $18.10 billion, a price-to-earnings ratio of 99.73, a price-to-earnings-growth ratio of 1.19 and a beta of 0.68. The stock has a 50 day simple moving average of $70.15 and a 200-day simple moving average of $68.79. Ryan Specialty Holdings, Inc. has a 1-year low of $52.34 and a 1-year high of $77.16.

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 for the quarter, meeting analysts' consensus estimates of $0.39. Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. The firm had revenue of $690.17 million for the quarter, compared to the consensus estimate of $680.80 million. During the same period in the previous year, the business earned $0.35 earnings per share. The company's revenue for the quarter was up 25.0% compared to the same quarter last year. On average, sell-side analysts forecast that Ryan Specialty Holdings, Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.70%. Ryan Specialty's payout ratio is 141.18%.

Ryan Specialty 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.