First Horizon Advisors Inc. Sells 406 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

First Horizon Advisors Inc. cut its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 14.3% in the 4th quarter, Holdings Channel reports. The firm owned 2,440 shares of the company’s stock after selling 406 shares during the period. First Horizon Advisors Inc.’s holdings in Ryan Specialty were worth $157,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. increased its position in shares of Ryan Specialty by 115.2% during the fourth quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company’s stock valued at $117,619,000 after buying an additional 981,505 shares during the period. Jennison Associates LLC boosted its position in Ryan Specialty by 60.2% during the 3rd quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock valued at $68,054,000 after acquiring an additional 385,366 shares in the last quarter. Eagle Asset Management Inc. grew its holdings in shares of Ryan Specialty by 32.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company’s stock worth $98,555,000 after acquiring an additional 335,180 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Ryan Specialty by 43.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 938,187 shares of the company’s stock worth $62,286,000 after acquiring an additional 286,380 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of 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 acquiring an additional 238,064 shares in the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ryan Specialty

In other news, Director Nicholas Dominic Cortezi sold 31,409 shares of Ryan Specialty stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $65.64, for a total value of $2,061,686.76. Following the completion of the sale, the director now directly owns 2,697 shares in the company, valued at $177,031.08. The trade was a 92.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 316,451 shares of company stock worth $20,907,793 over the last quarter. 11.10% of the stock is currently owned by insiders.

Ryan Specialty Stock Up 2.3 %

NYSE:RYAN opened at $68.97 on Wednesday. The firm has a 50-day simple moving average of $65.66 and a two-hundred day simple moving average of $67.34. The firm has a market cap of $18.06 billion, a P/E ratio of 99.95, a P/E/G ratio of 1.19 and a beta of 0.72. Ryan Specialty Holdings, Inc. has a fifty-two week low of $46.57 and a fifty-two week high of $75.97. 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 announced its quarterly earnings results on Thursday, February 20th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.02). The firm had revenue of $663.53 million for the quarter, compared to the consensus estimate of $658.80 million. Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. Analysts predict that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current fiscal year.

Ryan Specialty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.48 annualized dividend and a dividend yield of 0.70%. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.11. Ryan Specialty’s payout ratio is currently 69.57%.

Wall Street Analysts Forecast Growth

RYAN has been the topic of several research reports. Keefe, Bruyette & Woods dropped their price target on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. Wells Fargo & Company boosted their target price on shares of Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, February 21st. Royal Bank of Canada reduced their target price on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. Barclays lifted their price target on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, Morgan Stanley began coverage on shares of Ryan Specialty in a report on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $74.55.

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.