Walleye Capital LLC Reduces Stock Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Walleye Capital LLC cut its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN - Free Report) by 77.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 17,167 shares of the company's stock after selling 59,736 shares during the period. Walleye Capital LLC's holdings in Ryan Specialty were worth $1,101,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Ryan Specialty by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 9,880,504 shares of the company's stock valued at $633,933,000 after buying an additional 529,631 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Ryan Specialty by 2.5% during the fourth quarter. Bessemer Group Inc. now owns 3,283,216 shares of the company's stock worth $210,651,000 after purchasing an additional 79,976 shares in the last quarter. Blair William & Co. IL raised its stake in Ryan Specialty by 0.6% in the 4th quarter. Blair William & Co. IL now owns 2,765,963 shares of the company's stock valued at $177,464,000 after purchasing an additional 16,540 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Ryan Specialty by 115.2% in the 4th quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company's stock valued at $117,619,000 after purchasing an additional 981,505 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Ryan Specialty by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 1,799,130 shares of the company's stock worth $115,468,000 after buying an additional 46,960 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company's stock.

Ryan Specialty Trading Up 0.3 %

Ryan Specialty stock traded up $0.18 during trading on Thursday, hitting $69.60. The company had a trading volume of 646,549 shares, compared to its average volume of 951,380. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. The company's 50 day simple moving average is $70.51 and its 200-day simple moving average is $69.00. Ryan Specialty Holdings, Inc. has a 1-year low of $48.48 and a 1-year high of $77.16. The stock 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.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its quarterly earnings data 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). Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The firm had revenue of $663.53 million during the quarter, compared to analysts' expectations of $658.80 million. As a group, analysts expect that Ryan Specialty Holdings, Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Tuesday, March 4th. This is a boost from Ryan Specialty's previous quarterly dividend of $0.11. Ryan Specialty's dividend payout ratio is currently 69.57%.

Insider Activity

In other news, 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 value of $2,283,750.00. Following the completion of the transaction, the director now owns 6,209 shares in the company, valued at approximately $405,137.25. This trade represents a 84.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Brendan Martin Mulshine sold 30,000 shares of the company's stock in a transaction that occurred 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. Over the last quarter, insiders sold 96,409 shares of company stock valued at $6,424,437. 11.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RYAN has been the subject of several research reports. UBS Group upped their price objective on shares of Ryan Specialty from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Wells Fargo & Company lowered their price objective on Ryan Specialty from $69.00 to $66.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Royal Bank of Canada cut their target price on Ryan Specialty from $73.00 to $72.00 and set a "sector perform" rating for the company in a research note on Friday, February 21st. Keefe, Bruyette & Woods lowered their price target on shares of Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, TD Cowen initiated 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 equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $75.67.

About Ryan Specialty

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.