Kayne Anderson Rudnick Investment Management LLC Reduces Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

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

Other large investors have also recently modified their holdings of the company. Rakuten Securities Inc. bought a new position in Ryan Specialty during the 4th quarter worth $27,000. Principal Securities Inc. raised its position in shares of Ryan Specialty by 164.7% during 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 position in shares of Ryan Specialty in the fourth quarter worth approximately $49,000. Headlands Technologies LLC boosted its holdings in 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 acquiring an additional 767 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Ryan Specialty during the 4th quarter valued at approximately $54,000. Institutional investors own 84.82% of the company's stock.

Ryan Specialty Stock Up 0.3 %

Shares of RYAN stock traded up $0.18 during trading hours on Thursday, reaching $69.60. The company had a trading volume of 782,662 shares, compared to its average volume of 951,380. The company has a market cap of $18.23 billion, a price-to-earnings ratio of 100.87, a price-to-earnings-growth ratio of 1.19 and a beta of 0.66. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. Ryan Specialty Holdings, Inc. has a 12 month low of $48.48 and a 12 month high of $77.16. The business has a fifty day simple moving average of $70.51 and a 200-day simple moving average of $69.00.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.02). Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The company had revenue of $663.53 million for the quarter, compared to the consensus estimate of $658.80 million. On average, research analysts expect 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 disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.69%. 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 dividend payout ratio is presently 69.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Barclays reduced their price objective on shares of Ryan Specialty from $88.00 to $83.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Royal Bank of Canada decreased their price target on Ryan Specialty from $73.00 to $72.00 and set a "sector perform" rating for the company in a report on Friday, February 21st. Wells Fargo & Company cut their target price on Ryan Specialty from $69.00 to $66.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. UBS Group lifted 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. Finally, TD Cowen assumed coverage on shares of Ryan Specialty in a research report on Thursday, April 10th. They set a "buy" rating and a $89.00 price objective for the company. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $75.67.

Insider Buying and Selling at Ryan Specialty

In related news, EVP Brendan Martin Mulshine sold 30,000 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of Ryan Specialty stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $65.25, for a total transaction of $2,283,750.00. Following the completion of the sale, the director now directly owns 6,209 shares in the company, valued at approximately $405,137.25. This represents a 84.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,409 shares of company stock worth $6,424,437. Insiders own 11.10% of the company's stock.

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.