Ryan Specialty Holdings, Inc. (NYSE:RYAN) Position Trimmed by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its holdings in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 5.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 425,576 shares of the company’s stock after selling 23,865 shares during the period. Envestnet Asset Management Inc. owned about 0.16% of Ryan Specialty worth $24,645,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in RYAN. GAMMA Investing LLC boosted its stake in shares of Ryan Specialty by 96.4% during the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock valued at $35,000 after buying an additional 297 shares during the period. Arizona State Retirement System raised its holdings in Ryan Specialty by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 28,246 shares of the company’s stock worth $1,636,000 after acquiring an additional 611 shares during the period. Precision Wealth Strategies LLC raised its holdings in Ryan Specialty by 4.1% in the 1st quarter. Precision Wealth Strategies LLC now owns 15,774 shares of the company’s stock worth $875,000 after acquiring an additional 617 shares during the period. Anderson Hoagland & Co. raised its holdings in Ryan Specialty by 1.2% in the 2nd quarter. Anderson Hoagland & Co. now owns 51,615 shares of the company’s stock worth $2,909,000 after acquiring an additional 624 shares during the period. Finally, Crewe Advisors LLC bought a new position in shares of Ryan Specialty during the 2nd quarter worth about $39,000. 84.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, President Timothy William Turner sold 2,000,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the completion of the transaction, the president now owns 8,095 shares in the company, valued at $505,532.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ryan Specialty news, President Timothy William Turner sold 2,000,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $62.45, for a total value of $124,900,000.00. Following the completion of the sale, the president now owns 8,095 shares in the company, valued at $505,532.75. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Nicholas Dominic Cortezi sold 2,325 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $64.60, for a total transaction of $150,195.00. Following the completion of the sale, the director now owns 3,463 shares of the company’s stock, valued at approximately $223,709.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,107,136 shares of company stock worth $131,860,032. 11.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of Ryan Specialty from $58.00 to $64.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. UBS Group upped their target price on shares of Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $62.00 target price on shares of Ryan Specialty in a research note on Tuesday, July 2nd. Barclays initiated coverage on shares of Ryan Specialty in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $76.00 price target on the stock. Finally, Citigroup boosted their price target on shares of Ryan Specialty from $56.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Ryan Specialty currently has a consensus rating of “Hold” and an average target price of $63.89.

Ryan Specialty Stock Up 1.3 %

Shares of NYSE:RYAN opened at $63.53 on Friday. Ryan Specialty Holdings, Inc. has a 52 week low of $41.49 and a 52 week high of $69.03. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $16.55 billion, a PE ratio of 119.87, a PEG ratio of 1.53 and a beta of 0.62. The company has a 50 day moving average price of $63.05 and a two-hundred day moving average price of $57.22.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. Ryan Specialty had a net margin of 10.21% and a return on equity of 48.08%. The company had revenue of $695.40 million during the quarter, compared to the consensus estimate of $695.56 million. During the same quarter in the prior year, the firm earned $0.45 earnings per share. The firm’s revenue was up 18.9% compared to the same quarter last year. Analysts forecast that Ryan Specialty Holdings, Inc. will post 1.81 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.69%. The ex-dividend date was Tuesday, August 13th. Ryan Specialty’s payout ratio is 83.02%.

Ryan Specialty Company 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.