Intech Investment Management LLC Has $592,000 Stock Holdings in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Intech Investment Management LLC lowered its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 32.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 10,228 shares of the company’s stock after selling 4,849 shares during the period. Intech Investment Management LLC’s holdings in Ryan Specialty were worth $592,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Ryan Specialty by 96.4% during the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock worth $35,000 after purchasing an additional 297 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Ryan Specialty by 2.2% in the second quarter. Arizona State Retirement System now owns 28,246 shares of the company’s stock valued at $1,636,000 after acquiring an additional 611 shares during the period. Precision Wealth Strategies LLC grew its stake in shares of Ryan Specialty by 4.1% in the first quarter. Precision Wealth Strategies LLC now owns 15,774 shares of the company’s stock valued at $875,000 after acquiring an additional 617 shares in the last quarter. Anderson Hoagland & Co. increased its position in Ryan Specialty by 1.2% during the second 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 acquired a new stake in Ryan Specialty in the 2nd quarter worth about $39,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Ryan Specialty from $54.00 to $56.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $62.00 price objective on shares of Ryan Specialty in a research note on Tuesday, July 2nd. Wells Fargo & Company raised their price target 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. Barclays started coverage on shares of Ryan Specialty in a research report on Wednesday, September 4th. They set an “overweight” rating and a $76.00 price objective for the company. Finally, BMO Capital Markets raised shares of Ryan Specialty from a “market perform” rating to an “outperform” rating and raised their target price for the company from $65.00 to $75.00 in a report on Tuesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $66.78.

Insider Transactions at Ryan Specialty

In related news, President Timothy William Turner sold 2,000,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the president now owns 8,095 shares in the company, valued at approximately $505,532.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Nicholas Dominic Cortezi sold 1,500 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.02, for a total value of $97,530.00. Following the completion of the sale, the director now owns 25,123 shares of the company’s stock, valued at $1,633,497.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Timothy William Turner sold 2,000,000 shares of Ryan Specialty stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $62.45, for a total value of $124,900,000.00. Following the completion of the transaction, the president now directly owns 8,095 shares in the company, valued at $505,532.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,107,136 shares of company stock worth $131,860,032. Insiders own 11.10% of the company’s stock.

Ryan Specialty Trading Down 1.1 %

Shares of Ryan Specialty stock opened at $66.19 on Friday. The firm has a market capitalization of $17.31 billion, a PE ratio of 124.89, a price-to-earnings-growth ratio of 1.52 and a beta of 0.62. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.81. The firm’s 50 day moving average is $63.68 and its 200 day moving average is $57.56. Ryan Specialty Holdings, Inc. has a 1 year low of $41.49 and a 1 year high of $69.03.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results 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 period in the prior year, the business earned $0.45 earnings per share. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. Equities research analysts forecast that Ryan Specialty Holdings, Inc. will post 1.81 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Tuesday, August 13th. Ryan Specialty’s payout ratio is 83.02%.

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.