Rhumbline Advisers Has $21.84 Million Stock Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Rhumbline Advisers reduced its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 0.2% during the 1st quarter, Holdings Channel reports. The fund owned 295,684 shares of the company’s stock after selling 677 shares during the period. Rhumbline Advisers’ holdings in Ryan Specialty were worth $21,842,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Rakuten Securities Inc. bought a new position in shares of Ryan Specialty during the fourth quarter worth approximately $27,000. Kapitalo Investimentos Ltda bought a new position in Ryan Specialty in the fourth quarter valued at approximately $36,000. Principal Securities Inc. boosted its position in Ryan Specialty by 164.7% in the fourth quarter. Principal Securities Inc. now owns 667 shares of the company’s stock valued at $43,000 after buying an additional 415 shares in the last quarter. Mizuho Bank Ltd. acquired a new stake in Ryan Specialty in the fourth quarter valued at approximately $49,000. Finally, Headlands Technologies LLC boosted its position 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 buying an additional 767 shares in the last quarter. 84.82% of the stock is owned by institutional investors.

Ryan Specialty Trading Down 0.7%

Ryan Specialty stock opened at $68.56 on Friday. The stock has a market cap of $17.99 billion, a P/E ratio of 99.36, a PEG ratio of 1.19 and a beta of 0.70. Ryan Specialty Holdings, Inc. has a fifty-two week low of $52.34 and a fifty-two week high of $77.16. The firm’s fifty day moving average price is $69.62 and its 200-day moving average price is $68.73. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01.

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, hitting the consensus estimate of $0.39. The firm had revenue of $690.17 million for the quarter, compared to analysts’ expectations of $680.80 million. Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Equities research analysts forecast that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

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

Insider Transactions at Ryan Specialty

In related news, EVP Brendan Martin Mulshine sold 30,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $69.30, for a total value of $2,079,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David P. Bolger sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $70.80, for a total transaction of $354,000.00. Following the completion of the transaction, the director now owns 71,467 shares of the company’s stock, valued at $5,059,863.60. This trade represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 52.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RYAN shares. UBS Group lifted their price target on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Wells Fargo & Company dropped their target price on shares of Ryan Specialty from $69.00 to $66.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Barclays decreased their price target on shares of Ryan Specialty from $88.00 to $83.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. TD Cowen started coverage on shares of Ryan Specialty in a research report on Thursday, April 10th. They set a “buy” rating and a $89.00 target price for the company. Finally, Royal Bank of Canada decreased their target price 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Ryan Specialty presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.58.

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.