Kayne Anderson Rudnick Investment Management LLC Has $461.82 Million Stock Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Kayne Anderson Rudnick Investment Management LLC lowered its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 17.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,974,801 shares of the company’s stock after selling 1,716,204 shares during the quarter. Ryan Specialty makes up 1.1% of Kayne Anderson Rudnick Investment Management LLC’s investment portfolio, making the stock its 27th largest holding. Kayne Anderson Rudnick Investment Management LLC owned about 3.06% of Ryan Specialty worth $461,821,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Thrivent Financial for Lutherans raised its stake in Ryan Specialty by 519.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 28,803 shares of the company’s stock valued at $1,668,000 after purchasing an additional 24,154 shares during the period. Blair William & Co. IL grew its holdings in shares of Ryan Specialty by 3.4% during the second quarter. Blair William & Co. IL now owns 2,866,003 shares of the company’s stock valued at $165,970,000 after buying an additional 94,663 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in Ryan Specialty during the second quarter valued at $248,000. Amalgamated Bank lifted its stake in Ryan Specialty by 441.7% in the 2nd quarter. Amalgamated Bank now owns 53,435 shares of the company’s stock worth $3,094,000 after acquiring an additional 43,570 shares in the last quarter. Finally, Mutual of America Capital Management LLC acquired a new stake in Ryan Specialty during the 2nd quarter worth about $3,394,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Ryan Specialty Stock Performance

Shares of NYSE RYAN opened at $63.53 on Friday. The business’s 50-day simple moving average is $62.92 and its 200-day simple moving average is $57.15. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.09 and a current ratio of 1.09. Ryan Specialty Holdings, Inc. has a 52 week low of $41.49 and a 52 week high of $69.03. The firm has a market cap of $16.55 billion, a price-to-earnings ratio of 119.83, a P/E/G ratio of 1.53 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.56 by $0.02. Ryan Specialty had a return on equity of 48.08% and a net margin of 10.21%. The company had revenue of $695.40 million for the quarter, compared to the consensus estimate of $695.56 million. During the same quarter last year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. As a group, equities research analysts expect that Ryan Specialty Holdings, Inc. will post 1.81 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of Ryan Specialty stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $65.18, for a total value of $1,709,866.94. Following the transaction, the executive vice president now directly owns 24,845 shares in the company, valued at $1,619,397.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $65.18, for a total value of $1,709,866.94. Following the completion of the sale, the executive vice president now directly owns 24,845 shares of the company’s stock, valued at $1,619,397.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Timothy William Turner sold 2,000,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $62.45, for a total transaction of $124,900,000.00. Following the transaction, the president now directly owns 8,095 shares in the company, valued at approximately $505,532.75. The disclosure for this sale can be found here. Insiders sold a total of 2,107,136 shares of company stock valued at $131,860,032 in the last quarter. Insiders own 11.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RYAN shares. Barclays assumed coverage on Ryan Specialty in a report on Wednesday, September 4th. They issued an “overweight” rating and a $76.00 target price on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $62.00 target price on shares of Ryan Specialty in a research report on Tuesday, July 2nd. UBS Group boosted their price target on shares of Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. lifted their price objective on Ryan Specialty from $54.00 to $56.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company upped their target price on Ryan Specialty from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Ryan Specialty currently has a consensus rating of “Hold” and an average target price of $63.40.

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.