Envestnet Asset Management Inc. Sells 53,987 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Envestnet Asset Management Inc. reduced its position in Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 13.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 343,434 shares of the company's stock after selling 53,987 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.13% of Ryan Specialty worth $22,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Rakuten Securities Inc. purchased a new stake in Ryan Specialty during the fourth quarter valued at about $27,000. Principal Securities Inc. boosted its holdings in Ryan Specialty by 164.7% in the 4th quarter. Principal Securities Inc. now owns 667 shares of the company's stock worth $43,000 after buying an additional 415 shares during the period. Mizuho Bank Ltd. bought a new position in Ryan Specialty in the 4th quarter worth approximately $49,000. Headlands Technologies LLC grew its stake 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 buying an additional 767 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in Ryan Specialty during the 4th quarter valued at $54,000. Hedge funds and other institutional investors own 84.82% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group lifted their price target on Ryan Specialty from $82.00 to $84.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. TD Cowen assumed coverage on Ryan Specialty in a report on Thursday, April 10th. They set a "buy" rating and a $89.00 target price for the company. Keefe, Bruyette & Woods decreased their price target on Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Royal Bank of Canada cut their price objective on shares of Ryan Specialty from $73.00 to $72.00 and set a "sector perform" rating for the company in a research report on Friday, February 21st. Finally, Barclays decreased their target price on shares of Ryan Specialty from $88.00 to $83.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. 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 data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $75.67.

Insider Activity

In related news, EVP Brendan Martin Mulshine sold 30,000 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $69.30, for a total transaction of $2,079,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Nicholas Dominic Cortezi sold 10,485 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $65.12, for a total value of $682,783.20. Following the completion of the sale, the director now owns 11,109 shares of the company's stock, valued at approximately $723,418.08. This trade represents a 48.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 141,894 shares of company stock valued at $9,429,470. 11.10% of the stock is currently owned by insiders.

Ryan Specialty Price Performance

Shares of NYSE RYAN traded down $1.46 during trading hours on Friday, reaching $70.63. 967,494 shares of the stock traded hands, compared to its average volume of 942,994. The company's 50-day simple moving average is $70.38 and its two-hundred day simple moving average is $69.02. The company has a market capitalization of $18.50 billion, a P/E ratio of 102.37, a price-to-earnings-growth ratio of 1.19 and a beta of 0.66. Ryan Specialty Holdings, Inc. has a 52-week low of $48.48 and a 52-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 2.40.

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

Ryan Specialty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.68%. This is a positive change from Ryan Specialty's previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, March 4th. Ryan Specialty's dividend payout ratio is presently 69.57%.

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.