US Bancorp DE Has $4.05 Million Stock Holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN)

Key Points

• US Bancorp DE reduced its holdings in Ryan Specialty Holdings by 12.2%, owning 54,857 shares worth approximately $4.05 million after selling 7,598 shares in the first quarter.
• Ryan Specialty announced a quarterly dividend of $0.12 per share, with a payout ratio currently at 137.14%, indicating a potentially high dividend yield despite the high ratio.
• The company's shares traded down to $57.35 recently, with a 12-month range of $55.77 to $77.16 and a market capitalization of $15.05 billion.

US Bancorp DE reduced its position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 12.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 54,857 shares of the company's stock after selling 7,598 shares during the period. US Bancorp DE's holdings in Ryan Specialty were worth $4,052,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes 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 worth $225,404,000 after acquiring an additional 1,218,147 shares during the last quarter. Millennium Management LLC raised its stake 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 acquiring an additional 1,077,169 shares during the last quarter. Artemis Investment Management LLP bought a new stake in shares of Ryan Specialty during the first quarter worth approximately $57,023,000. Wellington Management Group LLP bought a new stake in shares of Ryan Specialty during the fourth quarter worth approximately $29,599,000. Finally, Freestone Grove Partners LP bought a new stake in shares of Ryan Specialty during the fourth quarter worth approximately $13,842,000. 84.82% of the stock is owned by institutional investors.

Insider Transactions at Ryan Specialty

In other Ryan Specialty news, Director David P. Bolger sold 5,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $70.80, for a total transaction of $354,000.00. Following the sale, the director directly owned 71,467 shares in the company, valued at $5,059,863.60. This represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 sale, the executive vice president owned 1,117 shares in the company, valued at $73,543.28. The trade was a 92.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 52.21% of the company's stock.

Ryan Specialty Stock Performance

Shares of RYAN stock traded down $1.02 on Friday, hitting $58.53. The company's stock had a trading volume of 1,344,980 shares, compared to its average volume of 1,485,492. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.05 and a current ratio of 1.01. The stock's 50 day moving average is $65.30 and its 200-day moving average is $67.91. Ryan Specialty Holdings Inc. has a fifty-two week low of $55.77 and a fifty-two week high of $77.16. The company has a market capitalization of $15.36 billion, a PE ratio of 167.23, a PEG ratio of 1.72 and a beta of 0.64.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.66 EPS for the quarter, meeting the consensus estimate of $0.66. The business had revenue of $855.17 million for the quarter, compared to the consensus estimate of $837.52 million. Ryan Specialty had a net margin of 6.81% and a return on equity of 48.70%. Ryan Specialty's revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.58 earnings per share. 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, August 12th. Ryan Specialty's dividend payout ratio is presently 137.14%.

Analyst Ratings Changes

RYAN has been the subject of a number of recent research reports. The Goldman Sachs Group raised shares of Ryan Specialty from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $74.00 to $81.00 in a research note on Tuesday, May 13th. UBS Group reduced their price target on shares of Ryan Specialty from $84.00 to $80.00 and set a "buy" rating for the company in a report on Monday, August 4th. Wells Fargo & Company cut their price objective on shares of Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Barclays cut their price objective 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, July 7th. Finally, Morgan Stanley dropped their price target on shares of Ryan Specialty from $80.00 to $78.00 and set an "overweight" rating on the stock in a research report on Monday, July 14th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Ryan Specialty has an average rating of "Moderate Buy" and an average target price of $77.30.

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.