US Bancorp DE Cuts Stock Position 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 lessened its stake in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 12.2% in the first quarter, according to the company in its most recent disclosure with the Securities and 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 reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. grew its position in shares of Ryan Specialty by 281.6% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company's stock worth $25,000 after acquiring an additional 245 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in Ryan Specialty in the 1st quarter valued at about $35,000. Kapitalo Investimentos Ltda acquired a new stake in Ryan Specialty in the 4th quarter valued at about $36,000. Fifth Third Bancorp lifted its holdings in Ryan Specialty by 202.5% in the 1st quarter. Fifth Third Bancorp now owns 484 shares of the company's stock valued at $36,000 after acquiring an additional 324 shares during the last quarter. Finally, Headlands Technologies LLC lifted its holdings in Ryan Specialty by 2,644.8% in the 4th quarter. Headlands Technologies LLC now owns 796 shares of the company's stock valued at $51,000 after acquiring an additional 767 shares during the last quarter. Institutional investors own 84.82% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. UBS Group reduced their price objective on shares of Ryan Specialty from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Monday. Morgan Stanley cut their price objective 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. The Goldman Sachs Group raised 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 report on Tuesday, May 13th. Wall Street Zen raised shares of Ryan Specialty from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Finally, Wells Fargo & Company lowered 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 note on Friday, August 1st. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $77.30.

Ryan Specialty Stock Performance

NYSE RYAN traded down $1.02 on Friday, hitting $58.53. 1,344,980 shares of the stock were exchanged, compared to its average volume of 1,076,070. The company has a debt-to-equity ratio of 2.88, a current ratio of 1.01 and a quick ratio of 1.05. The business's fifty day moving average is $65.56 and its 200 day moving average is $67.96. The company has a market capitalization of $15.36 billion, a PE ratio of 167.23, a P/E/G ratio of 1.66 and a beta of 0.64. Ryan Specialty Holdings Inc. has a 52 week low of $55.77 and a 52 week high of $77.16.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.66 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.66. The firm had revenue of $855.17 million during 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%. The business's revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period last year, the business posted $0.58 earnings per share. Research analysts anticipate that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.48 annualized dividend and a yield of 0.8%. Ryan Specialty's dividend payout ratio (DPR) is 137.14%.

Insider Activity

In other Ryan Specialty news, EVP Mark Stephen Katz sold 14,377 shares of Ryan Specialty stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $65.84, for a total value of $946,581.68. Following the completion of the sale, the executive vice president directly owned 1,117 shares in the company, valued at approximately $73,543.28. The trade was a 92.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David P. Bolger sold 5,000 shares of Ryan Specialty stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $70.80, for a total value of $354,000.00. Following the completion of the sale, the director owned 71,467 shares of the company's stock, valued at approximately $5,059,863.60. The trade was a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 52.21% of the company's stock.

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.