First Horizon Advisors Inc. Decreases Stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

First Horizon Advisors Inc. reduced its position in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 14.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,440 shares of the company’s stock after selling 406 shares during the period. First Horizon Advisors Inc.’s holdings in Ryan Specialty were worth $157,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RYAN. Principal Financial Group Inc. raised its position in shares of Ryan Specialty by 115.2% in the fourth quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company’s stock valued at $117,619,000 after purchasing an additional 981,505 shares during the period. Jennison Associates LLC grew its stake in Ryan Specialty by 60.2% in the 3rd quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock valued at $68,054,000 after buying an additional 385,366 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in Ryan Specialty by 32.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company’s stock valued at $98,555,000 after acquiring an additional 335,180 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Ryan Specialty by 43.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 938,187 shares of the company’s stock valued at $62,286,000 after acquiring an additional 286,380 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Ryan Specialty by 107.5% during the third quarter. JPMorgan Chase & Co. now owns 459,464 shares of the company’s stock worth $30,504,000 after acquiring an additional 238,064 shares in the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Ryan Specialty Price Performance

Shares of NYSE:RYAN opened at $68.97 on Wednesday. The company’s fifty day moving average price is $65.66 and its 200-day moving average price is $67.34. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $18.06 billion, a price-to-earnings ratio of 99.95, a PEG ratio of 1.19 and a beta of 0.72. Ryan Specialty Holdings, Inc. has a one year low of $46.57 and a one year high of $75.97.

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

Ryan Specialty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.70%. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, March 4th. Ryan Specialty’s dividend payout ratio (DPR) is currently 69.57%.

Insider Buying and Selling

In related news, Director Nicholas Dominic Cortezi sold 31,409 shares of Ryan Specialty stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $65.64, for a total value of $2,061,686.76. Following the transaction, the director now owns 2,697 shares in the company, valued at $177,031.08. This trade represents a 92.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 316,451 shares of company stock worth $20,907,793 in the last quarter. 11.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RYAN. Royal Bank of Canada reduced their price target on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company in a research report on Friday, February 21st. Keefe, Bruyette & Woods reduced 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. 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 on the stock. Wells Fargo & Company raised their price objective on shares of Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Friday, February 21st. Finally, Barclays upped their target price on shares of Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $74.55.

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.