Sei Investments Co. Sells 95,973 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Sei Investments Co. reduced its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 19.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 408,777 shares of the company’s stock after selling 95,973 shares during the quarter. Sei Investments Co.’s holdings in Ryan Specialty were worth $26,227,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. State Street Corp increased its holdings in shares of Ryan Specialty by 1.5% in the third quarter. State Street Corp now owns 3,273,093 shares of the company’s stock worth $217,301,000 after purchasing an additional 49,198 shares during the last quarter. Janus Henderson Group PLC increased its stake in Ryan Specialty by 0.4% in the 3rd quarter. Janus Henderson Group PLC now owns 3,148,916 shares of the company’s stock worth $209,058,000 after acquiring an additional 13,986 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Ryan Specialty by 115.2% during the 4th quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company’s stock worth $117,619,000 after acquiring an additional 981,505 shares in the last quarter. Barclays PLC boosted its position in shares of Ryan Specialty by 1.1% during the 3rd quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock valued at $108,994,000 after acquiring an additional 17,267 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Ryan Specialty in the fourth quarter valued at $94,484,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Ryan Specialty Stock Performance

Shares of Ryan Specialty stock opened at $71.49 on Thursday. Ryan Specialty Holdings, Inc. has a 52 week low of $48.48 and a 52 week high of $75.97. The company has a market capitalization of $18.72 billion, a PE ratio of 103.61, a price-to-earnings-growth ratio of 1.19 and a beta of 0.71. The stock’s fifty day moving average is $68.49 and its two-hundred day moving average is $68.15. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). The company had revenue of $663.53 million during the quarter, compared to analysts’ expectations of $658.80 million. Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. As a group, analysts expect that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Tuesday, March 4th. This is an increase from Ryan Specialty’s previous quarterly dividend of $0.11. Ryan Specialty’s payout ratio is currently 69.57%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on RYAN shares. UBS Group upped their price target 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. Morgan Stanley assumed coverage on shares of Ryan Specialty in a report on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price target for the company. Wells Fargo & Company boosted their price objective on Ryan Specialty from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Friday, February 21st. Royal Bank of Canada decreased their price objective on 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. Finally, Keefe, Bruyette & Woods dropped their target price on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $75.27.

Insider Activity at Ryan Specialty

In related news, EVP Brendan Martin Mulshine sold 30,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $69.30, for a total value of $2,079,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nicholas Dominic Cortezi sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $65.99, for a total transaction of $2,309,650.00. Following the transaction, the director now directly owns 35,609 shares in the company, valued at $2,349,837.91. This trade represents a 49.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 241,360 shares of company stock worth $16,006,428. Company insiders own 11.10% 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.