Ryan Specialty Holdings, Inc. (NYSE:RYAN) Stake Lessened by Oak Thistle LLC

Oak Thistle LLC trimmed its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 51.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,562 shares of the company’s stock after selling 6,820 shares during the quarter. Oak Thistle LLC’s holdings in Ryan Specialty were worth $364,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. HighTower Advisors LLC grew its position in shares of Ryan Specialty by 12.5% in the 3rd quarter. HighTower Advisors LLC now owns 9,258 shares of the company’s stock worth $449,000 after acquiring an additional 1,030 shares in the last quarter. Citigroup Inc. increased its stake in Ryan Specialty by 34.5% during the third quarter. Citigroup Inc. now owns 10,095 shares of the company’s stock valued at $489,000 after purchasing an additional 2,587 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Ryan Specialty by 192.0% during the third quarter. PNC Financial Services Group Inc. now owns 549 shares of the company’s stock worth $27,000 after purchasing an additional 361 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Ryan Specialty by 129.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 86,986 shares of the company’s stock worth $4,210,000 after buying an additional 49,069 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Ryan Specialty by 273.9% in the 3rd quarter. Invesco Ltd. now owns 303,102 shares of the company’s stock valued at $14,670,000 after buying an additional 222,030 shares during the period. 84.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RYAN has been the topic of several research reports. Wells Fargo & Company increased their price objective on shares of Ryan Specialty from $57.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. JMP Securities reissued a “market perform” rating on shares of Ryan Specialty in a report on Monday, April 15th. Wolfe Research lowered Ryan Specialty from an “outperform” rating to a “peer perform” rating in a research report on Monday, May 6th. Bank of America initiated coverage on Ryan Specialty in a research report on Wednesday, May 22nd. They set a “buy” rating and a $67.00 price objective for the company. Finally, Keefe, Bruyette & Woods upped their price target on shares of Ryan Specialty from $56.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $55.67.

Ryan Specialty Price Performance

NYSE RYAN opened at $56.78 on Tuesday. The firm has a market capitalization of $14.79 billion, a PE ratio of 107.13, a P/E/G ratio of 1.50 and a beta of 0.62. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.15 and a quick ratio of 1.15. Ryan Specialty Holdings, Inc. has a 12 month low of $41.49 and a 12 month high of $61.29. The company’s 50 day simple moving average is $54.12 and its 200 day simple moving average is $49.97.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. Ryan Specialty had a return on equity of 45.87% and a net margin of 9.15%. The company had revenue of $552.00 million for the quarter, compared to analysts’ expectations of $549.06 million. During the same period last year, the firm earned $0.26 EPS. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. As a group, equities research analysts forecast that Ryan Specialty Holdings, Inc. will post 1.77 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were given a $0.11 dividend. The ex-dividend date was Monday, May 13th. This represents a $0.44 annualized dividend and a yield of 0.77%. Ryan Specialty’s dividend payout ratio (DPR) is 83.02%.

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.