Wellington Management Group LLP Has $32.79 Million Position in Ryan Specialty Holdings Inc. $RYAN

Key Points

• Wellington Management Group LLP reduced its holdings in Ryan Specialty Holdings Inc. by 3.8%, now owning approximately 443,861 shares valued at around $32.8 million.
• Ryan Specialty declared a $0.12 per share quarterly dividend, with a payout ratio of 137.14%, indicating a 0.8% dividend yield.
• The company reported quarterly earnings of $0.66 EPS and revenue of $855.17 million, exceeding analyst expectations.

Wellington Management Group LLP cut its holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 3.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 443,861 shares of the company's stock after selling 17,472 shares during the quarter. Wellington Management Group LLP owned about 0.17% of Ryan Specialty worth $32,788,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. boosted its stake in Ryan Specialty by 281.6% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company's stock valued at $25,000 after acquiring an additional 245 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Ryan Specialty in the first quarter valued at approximately $35,000. Kapitalo Investimentos Ltda bought a new position in Ryan Specialty in the fourth quarter valued at approximately $36,000. Fifth Third Bancorp boosted its stake in Ryan Specialty by 202.5% in the first 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, Covestor Ltd boosted its stake in Ryan Specialty by 404.7% in the first quarter. Covestor Ltd now owns 858 shares of the company's stock valued at $63,000 after acquiring an additional 688 shares during the last quarter. 84.82% of the stock is owned by institutional investors.

Ryan Specialty Stock Down 1.3%

Shares of NYSE:RYAN traded down $0.73 during midday trading on Thursday, reaching $56.67. 858,784 shares of the company were exchanged, compared to its average volume of 1,079,995. 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 quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.88. The stock has a fifty day simple moving average of $63.11 and a two-hundred day simple moving average of $67.24. The firm has a market cap of $14.94 billion, a PE ratio of 161.93, a P/E/G ratio of 1.61 and a beta of 0.64.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.66 EPS for the quarter, hitting analysts' consensus estimates of $0.66. Ryan Specialty had a net margin of 6.81% and a return on equity of 48.70%. The business had revenue of $855.17 million for the quarter, compared to analyst estimates of $837.52 million. During the same period last year, the business posted $0.58 earnings per share. The firm's quarterly revenue was up 23.0% on a year-over-year basis. As a group, sell-side analysts forecast that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, August 12th. Ryan Specialty's dividend payout ratio (DPR) is presently 137.14%.

Insiders Place Their Bets

In related news, EVP Mark Stephen Katz sold 14,377 shares of the firm's 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 sale, the executive vice president directly owned 1,117 shares in the company, valued at $73,543.28. This trade represents a 92.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David P. Bolger sold 5,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $70.80, for a total transaction of $354,000.00. Following the sale, the director owned 71,467 shares in the company, 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.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports 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 on the stock in a research note on Monday, August 4th. Wells Fargo & Company reduced their price target 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. Citigroup began coverage on shares of Ryan Specialty in a research report on Wednesday, August 13th. They set a "buy" rating and a $74.00 price target on the stock. The Goldman Sachs Group raised shares of Ryan Specialty from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $74.00 to $81.00 in a research report on Tuesday, May 13th. Finally, Cantor Fitzgerald raised shares of Ryan Specialty to a "hold" rating in a research report on Wednesday, August 13th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $74.83.

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.