Kayne Anderson Rudnick Investment Management LLC Sells 2,859,347 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Kayne Anderson Rudnick Investment Management LLC lessened its position in Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 40.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,261,089 shares of the company's stock after selling 2,859,347 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 1.63% of Ryan Specialty worth $273,391,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Rakuten Securities Inc. bought a new position in shares of Ryan Specialty in the fourth quarter valued at about $27,000. Principal Securities Inc. raised its stake in shares of Ryan Specialty by 164.7% in the fourth quarter. Principal Securities Inc. now owns 667 shares of the company's stock worth $43,000 after acquiring an additional 415 shares during the last quarter. Mizuho Bank Ltd. acquired a new stake in shares of Ryan Specialty in the fourth quarter valued at approximately $49,000. Headlands Technologies LLC increased its holdings in shares of Ryan Specialty by 2,644.8% in the fourth quarter. Headlands Technologies LLC now owns 796 shares of the company's stock valued at $51,000 after purchasing an additional 767 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in Ryan Specialty in the 4th quarter worth approximately $54,000. Institutional investors own 84.82% of the company's stock.

Ryan Specialty Stock Down 7.6 %

RYAN traded down $5.31 during trading hours on Friday, hitting $64.27. 1,540,622 shares of the company's stock were exchanged, compared to its average volume of 955,679. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. Ryan Specialty Holdings, Inc. has a 1-year low of $48.48 and a 1-year high of $77.16. The stock's 50-day moving average is $70.53 and its two-hundred day moving average is $69.00. The stock has a market cap of $16.83 billion, a price-to-earnings ratio of 93.22, a PEG ratio of 1.19 and a beta of 0.66.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.02). The company had revenue of $663.53 million for the quarter, compared to the consensus estimate of $658.80 million. Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. Sell-side analysts predict that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.75%. This is an increase from Ryan Specialty's previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Tuesday, March 4th. Ryan Specialty's payout ratio is presently 69.57%.

Wall Street Analyst Weigh In

Several analysts have weighed in on RYAN shares. TD Cowen began coverage on Ryan Specialty in a report on Thursday, April 10th. They set a "buy" rating and a $89.00 price objective for the company. Barclays cut their price target on Ryan Specialty from $88.00 to $83.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. UBS Group raised their target price on Ryan Specialty from $82.00 to $84.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Royal Bank of Canada reduced their price objective on shares of Ryan Specialty from $73.00 to $72.00 and set a "sector perform" rating on the stock in a research note on Friday, February 21st. Finally, Wells Fargo & Company lowered their target price on shares of Ryan Specialty from $69.00 to $66.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $75.67.

Insiders Place Their Bets

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 31,409 shares of Ryan Specialty stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $65.64, for a total transaction of $2,061,686.76. Following the completion of the transaction, the director now directly owns 2,697 shares of the company's stock, valued at $177,031.08. The trade was a 92.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brendan Martin Mulshine sold 30,000 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $69.30, for a total transaction of $2,079,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,409 shares of company stock valued at $6,424,437. 11.10% of the stock is currently owned by corporate insiders.

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.