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

Kayne Anderson Rudnick Investment Management LLC decreased its position in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 40.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 1.63% of Ryan Specialty worth $273,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Mariner LLC grew its stake in shares of Ryan Specialty by 3.4% during the fourth quarter. Mariner LLC now owns 5,278 shares of the company’s stock valued at $339,000 after buying an additional 172 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in Ryan Specialty by 1.2% during the 4th quarter. Sanctuary Advisors LLC now owns 15,690 shares of the company’s stock valued at $1,045,000 after acquiring an additional 188 shares during the period. State of Alaska Department of Revenue grew its position in Ryan Specialty by 1.6% during the 4th quarter. State of Alaska Department of Revenue now owns 12,130 shares of the company’s stock worth $778,000 after acquiring an additional 190 shares during the last quarter. CIBC Asset Management Inc increased its stake in Ryan Specialty by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 3,674 shares of the company’s stock worth $236,000 after purchasing an additional 196 shares during the period. Finally, Treasurer of the State of North Carolina increased its stake in Ryan Specialty by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 44,990 shares of the company’s stock worth $2,887,000 after purchasing an additional 280 shares during the period. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RYAN. Barclays cut 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. The Goldman Sachs Group upgraded shares of Ryan Specialty from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $74.00 to $81.00 in a research report on Tuesday, May 13th. TD Cowen started coverage on shares of Ryan Specialty in a research note on Thursday, April 10th. They set a “buy” rating and a $89.00 price objective for the company. Keefe, Bruyette & Woods cut their target price on Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Finally, Royal Bank of Canada reduced their price target on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.58.

Insider Buying and Selling

In related news, EVP Brendan Martin Mulshine sold 30,000 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $69.30, for a total value of $2,079,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 52.21% of the stock is owned by insiders.

Ryan Specialty Stock Performance

Ryan Specialty stock opened at $68.69 on Friday. Ryan Specialty Holdings, Inc. has a fifty-two week low of $52.34 and a fifty-two week high of $77.16. The stock’s 50 day simple moving average is $70.10 and its two-hundred day simple moving average is $68.79. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $18.03 billion, a price-to-earnings ratio of 99.56, a PEG ratio of 1.19 and a beta of 0.68.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.39 earnings per share for the quarter, meeting the consensus estimate of $0.39. The company had revenue of $690.17 million for the quarter, compared to analyst estimates of $680.80 million. Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. The firm’s revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. As a group, analysts expect that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $0.48 annualized dividend and a yield of 0.70%. Ryan Specialty’s payout ratio is 141.18%.

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.