Brown Brothers Harriman & Co. Trims Stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Brown Brothers Harriman & Co. decreased its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 34.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,638 shares of the company’s stock after selling 1,377 shares during the period. Brown Brothers Harriman & Co.’s holdings in Ryan Specialty were worth $169,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Rakuten Securities Inc. acquired a new stake in shares of Ryan Specialty during the fourth quarter valued at $27,000. Principal Securities Inc. boosted its stake in shares of Ryan Specialty by 164.7% during the 4th quarter. Principal Securities Inc. now owns 667 shares of the company’s stock worth $43,000 after purchasing an additional 415 shares during the last quarter. Quarry LP grew its holdings in shares of Ryan Specialty by 109.3% during the third quarter. Quarry LP now owns 808 shares of the company’s stock worth $54,000 after buying an additional 422 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Ryan Specialty in the fourth quarter valued at approximately $54,000. Finally, R Squared Ltd purchased a new position in shares of Ryan Specialty during the fourth quarter valued at approximately $92,000. 84.82% of the stock is owned by institutional investors and hedge funds.

Ryan Specialty Price Performance

RYAN opened at $73.96 on Tuesday. Ryan Specialty Holdings, Inc. has a 52-week low of $48.48 and a 52-week high of $75.97. The company has a 50 day moving average of $68.89 and a two-hundred day moving average of $68.39. The company has a market cap of $19.37 billion, a P/E ratio of 107.18, a P/E/G ratio of 1.19 and a beta of 0.71. 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 announced its quarterly earnings results on Thursday, February 20th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. The business had revenue of $663.53 million for the quarter, compared to analysts’ expectations of $658.80 million. On average, 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 announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were issued a dividend of $0.12 per share. This is an increase from Ryan Specialty’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Tuesday, March 4th. Ryan Specialty’s dividend payout ratio (DPR) is presently 69.57%.

Insider Buying and Selling

In other Ryan Specialty news, EVP Brendan Martin Mulshine sold 30,000 shares of the business’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 SEC, which is available at this link. Also, Director Nicholas Dominic Cortezi sold 29,466 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $65.06, for a total transaction of $1,917,057.96. Following the completion of the transaction, the director now directly owns 45,409 shares of the company’s stock, valued at approximately $2,954,309.54. The trade was a 39.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 241,360 shares of company stock valued at $16,006,428. Corporate insiders own 11.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on RYAN shares. UBS Group lifted their target price on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. 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 research note on Friday, February 21st. Royal Bank of Canada reduced their target price 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. Wells Fargo & Company lifted their price target on Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, February 21st. Finally, Morgan Stanley began coverage on shares of Ryan Specialty in a report on Thursday, December 5th. They set an “overweight” rating and a $90.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $75.27.

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.