Ryan Specialty Holdings Inc. $RYAN Stock Position Lowered by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. lowered its position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 10.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,201 shares of the company’s stock after selling 10,408 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Ryan Specialty were worth $5,929,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of RYAN. Hsbc Holdings PLC grew its stake in shares of Ryan Specialty by 14.4% in the 1st quarter. Hsbc Holdings PLC now owns 4,182 shares of the company’s stock worth $309,000 after purchasing an additional 528 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Ryan Specialty in the first quarter worth approximately $467,000. United Services Automobile Association bought a new position in shares of Ryan Specialty in the first quarter valued at $490,000. Deutsche Bank AG lifted its position in shares of Ryan Specialty by 11.5% during the 1st quarter. Deutsche Bank AG now owns 12,055 shares of the company’s stock valued at $891,000 after acquiring an additional 1,241 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Ryan Specialty during the 1st quarter worth $1,927,000. 84.82% of the stock is owned by institutional investors and hedge funds.

Ryan Specialty Trading Up 2.1%

NYSE RYAN opened at $58.09 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 2.72. Ryan Specialty Holdings Inc. has a 1-year low of $50.08 and a 1-year high of $77.16. The firm’s fifty day simple moving average is $55.20 and its 200-day simple moving average is $60.50. The company has a market capitalization of $15.33 billion, a PE ratio of 126.29, a price-to-earnings-growth ratio of 1.59 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. Ryan Specialty had a return on equity of 47.93% and a net margin of 7.61%.The firm had revenue of $754.58 million during the quarter, compared to analysts’ expectations of $742.35 million. During the same quarter last year, the firm earned $0.41 earnings per share. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, sell-side analysts anticipate 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, November 25th. Investors of record on Tuesday, November 11th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.48 annualized dividend and a dividend yield of 0.8%. Ryan Specialty’s payout ratio is presently 104.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RYAN shares. Wells Fargo & Company boosted their target price on Ryan Specialty from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Ryan Specialty from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. BMO Capital Markets decreased their target price on shares of Ryan Specialty from $70.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. JPMorgan Chase & Co. cut their price target on shares of Ryan Specialty from $64.00 to $63.00 and set an “underweight” rating on the stock in a report on Thursday, October 9th. Finally, UBS Group reduced their price target on shares of Ryan Specialty from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Ryan Specialty presently has an average rating of “Moderate Buy” and an average target price of $67.71.

Insider Buying and Selling

In other Ryan Specialty news, Chairman Patrick G. Ryan acquired 276,634 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were purchased at an average price of $51.84 per share, with a total value of $14,340,706.56. Following the completion of the transaction, the chairman owned 13,699,959 shares in the company, valued at $710,205,874.56. The trade was a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 52.21% of the company’s stock.

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.