Sumitomo Mitsui Trust Holdings Inc. Sells 46,909 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Sumitomo Mitsui Trust Holdings Inc. lowered its position in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 3.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,465,127 shares of the company’s stock after selling 46,909 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Ryan Specialty were worth $81,315,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RYAN. PNC Financial Services Group Inc. raised its stake in shares of Ryan Specialty by 192.0% in the third quarter. PNC Financial Services Group Inc. now owns 549 shares of the company’s stock valued at $27,000 after acquiring an additional 361 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Ryan Specialty by 129.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 86,986 shares of the company’s stock valued at $4,210,000 after purchasing an additional 49,069 shares in the last quarter. Federated Hermes Inc. acquired a new stake in Ryan Specialty during the 3rd quarter valued at $503,000. Northern Trust Corp raised its position in Ryan Specialty by 8.0% in the 3rd quarter. Northern Trust Corp now owns 434,381 shares of the company’s stock valued at $21,024,000 after purchasing an additional 32,243 shares during the last quarter. Finally, Natixis Advisors L.P. acquired a new position in Ryan Specialty in the third quarter worth $561,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RYAN shares. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $62.00 target price on shares of Ryan Specialty in a research note on Tuesday. Bank of America assumed coverage on shares of Ryan Specialty in a research report on Wednesday, May 22nd. They set a “buy” rating and a $67.00 target price on the stock. JPMorgan Chase & Co. raised their price target on shares of Ryan Specialty from $47.00 to $49.00 and gave the company an “underweight” rating in a report on Monday, April 8th. JMP Securities reaffirmed a “market perform” rating on shares of Ryan Specialty in a report on Monday, April 15th. Finally, Wolfe Research cut Ryan Specialty from an “outperform” rating to a “peer perform” rating in a research note on Monday, May 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $55.67.

Ryan Specialty Stock Up 0.2 %

NYSE:RYAN opened at $57.46 on Friday. The stock’s fifty day simple moving average is $54.53 and its 200-day simple moving average is $50.18. The firm has a market capitalization of $14.97 billion, a P/E ratio of 108.42, a P/E/G ratio of 1.49 and a beta of 0.62. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.99. Ryan Specialty Holdings, Inc. has a 12-month low of $41.49 and a 12-month high of $61.29.

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

Ryan Specialty Dividend Announcement

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