Wellington Management Group LLP Has $32.79 Million Stake 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 trimmed its holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 3.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 443,861 shares of the company's stock after selling 17,472 shares during the period. Wellington Management Group LLP owned about 0.17% of Ryan Specialty worth $32,788,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings 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 valued at $225,404,000 after purchasing an additional 1,218,147 shares in the last quarter. Millennium Management LLC lifted its holdings 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 valued at $75,329,000 after purchasing an additional 1,077,169 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Ryan Specialty by 121.6% in the first quarter. Invesco Ltd. now owns 1,590,862 shares of the company's stock valued at $117,517,000 after purchasing an additional 872,846 shares in the last quarter. Artemis Investment Management LLP bought a new stake in shares of Ryan Specialty in the first quarter valued at about $57,023,000. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Ryan Specialty by 61.3% in the first quarter. Westfield Capital Management Co. LP now owns 1,078,233 shares of the company's stock valued at $79,649,000 after purchasing an additional 409,649 shares in the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on RYAN. Wells Fargo & Company cut their price target on Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Morgan Stanley cut their price target on Ryan Specialty from $71.00 to $68.00 and set an "overweight" rating on the stock in a report on Monday, August 18th. Citigroup began coverage on Ryan Specialty in a report on Wednesday, August 13th. They issued a "buy" rating and a $74.00 price target on the stock. The Goldman Sachs Group upgraded Ryan Specialty from a "neutral" rating to a "buy" rating and boosted their price target for the company from $74.00 to $81.00 in a report on Tuesday, May 13th. Finally, UBS Group dropped their target price on Ryan Specialty from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $74.83.

Ryan Specialty Stock Down 0.3%

RYAN traded down $0.18 on Friday, hitting $56.47. 992,978 shares of the company were exchanged, compared to its average volume of 1,455,772. Ryan Specialty Holdings Inc. has a 12 month low of $55.77 and a 12 month high of $77.16. The company has a market cap of $14.89 billion, a PE ratio of 161.36, a PEG ratio of 1.57 and a beta of 0.64. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.01 and a current ratio of 1.01. The stock's fifty day moving average is $62.69 and its 200-day moving average is $67.09.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.66 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.66. Ryan Specialty had a return on equity of 48.70% and a net margin of 6.81%.The business had revenue of $855.17 million for the quarter, compared to analyst estimates of $837.52 million. During the same quarter in the prior year, the company posted $0.58 earnings per share. Ryan Specialty's revenue was up 23.0% on a year-over-year basis. Equities research analysts predict that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were given 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 of this dividend was Tuesday, August 12th. Ryan Specialty's payout ratio is 137.14%.

Insider Buying and Selling

In other Ryan Specialty news, EVP Mark Stephen Katz sold 14,377 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $65.84, for a total transaction of $946,581.68. Following the transaction, the executive vice president owned 1,117 shares of the company's stock, valued at $73,543.28. The trade was a 92.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David P. Bolger sold 5,000 shares of the business's 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 transaction, the director directly owned 71,467 shares in the company, valued at approximately $5,059,863.60. This trade represents a 6.54% decrease in their position. The disclosure for this sale can be found here. 52.21% of the stock is owned by insiders.

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.