Prudential Financial Inc. Trims Stock Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Prudential Financial Inc. reduced its holdings in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 64.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,830 shares of the company's stock after selling 8,745 shares during the period. Prudential Financial Inc.'s holdings in Ryan Specialty were worth $310,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in Ryan Specialty by 107.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 459,464 shares of the company's stock worth $30,504,000 after purchasing an additional 238,064 shares in the last quarter. Bar Harbor Wealth Management increased its position in Ryan Specialty by 5.9% during the fourth quarter. Bar Harbor Wealth Management now owns 168,871 shares of the company's stock valued at $10,835,000 after acquiring an additional 9,482 shares during the last quarter. Barclays PLC lifted its holdings in Ryan Specialty by 1.1% in the third quarter. Barclays PLC now owns 1,641,743 shares of the company's stock valued at $108,994,000 after acquiring an additional 17,267 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in Ryan Specialty by 51.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 30,760 shares of the company's stock worth $2,042,000 after purchasing an additional 10,460 shares during the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of Ryan Specialty by 101.6% during the 3rd quarter. HighTower Advisors LLC now owns 39,969 shares of the company's stock valued at $2,661,000 after purchasing an additional 20,139 shares during the period. Institutional investors own 84.82% of the company's stock.

Ryan Specialty Trading Down 0.2 %

Ryan Specialty stock traded down $0.13 during midday trading on Wednesday, reaching $72.96. The stock had a trading volume of 39,016 shares, compared to its average volume of 939,309. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40. The company has a fifty day moving average of $70.25 and a 200 day moving average of $68.97. Ryan Specialty Holdings, Inc. has a 52-week low of $48.48 and a 52-week high of $77.16. The firm has a market cap of $19.11 billion, a price-to-earnings ratio of 105.67, a price-to-earnings-growth ratio of 1.19 and a beta of 0.66.

Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates 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, analysts anticipate 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 declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.48 annualized dividend and a dividend yield of 0.66%. This is a positive change from Ryan Specialty's previous quarterly dividend of $0.11. Ryan Specialty's dividend payout ratio (DPR) is currently 69.57%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Royal Bank of Canada dropped their price target 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. Barclays lowered their price objective on Ryan Specialty from $88.00 to $83.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. UBS Group raised their target price on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Wells Fargo & Company decreased their price objective on shares of 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. Finally, Keefe, Bruyette & Woods lowered their price target on Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Ryan Specialty currently has an average rating of "Hold" and a consensus target price of $75.67.

Insider Buying and Selling

In related news, Director Nicholas Dominic Cortezi sold 35,000 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $66.35, for a total transaction of $2,322,250.00. Following the completion of the transaction, the director now owns 20,909 shares in the company, valued at $1,387,312.15. The trade was a 62.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Brendan Martin Mulshine sold 30,000 shares of the firm's stock in a transaction on Friday, March 14th. The stock was 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. Insiders sold a total of 176,894 shares of company stock valued at $11,779,720 over the last three months. 11.10% of the stock is owned by company 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.