Ryan Specialty Holdings, Inc. (NYSE:RYAN) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its position in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 21.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 68,379 shares of the company’s stock after selling 18,820 shares during the quarter. Teacher Retirement System of Texas’ holdings in Ryan Specialty were worth $4,387,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RYAN. State Street Corp increased its position in shares of Ryan Specialty by 1.5% during the third quarter. State Street Corp now owns 3,273,093 shares of the company’s stock worth $217,301,000 after purchasing an additional 49,198 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Ryan Specialty by 0.4% during the third quarter. Janus Henderson Group PLC now owns 3,148,916 shares of the company’s stock worth $209,058,000 after buying an additional 13,986 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Ryan Specialty by 115.2% during the fourth quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company’s stock worth $117,619,000 after buying an additional 981,505 shares in the last quarter. Barclays PLC lifted its stake in shares of Ryan Specialty by 1.1% in the third quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock worth $108,994,000 after buying an additional 17,267 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Ryan Specialty during the fourth quarter worth about $94,484,000. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RYAN. Keefe, Bruyette & Woods decreased their target price on shares of Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. UBS Group boosted their price objective on Ryan Specialty from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Royal Bank of Canada cut their target price on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. Wells Fargo & Company boosted their price target 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, Morgan Stanley assumed coverage on shares of Ryan Specialty in a research report on Thursday, December 5th. They set an “overweight” rating and a $90.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $75.27.

Insider Buying and Selling

In other news, Director Nicholas Dominic Cortezi sold 29,466 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $65.06, for a total transaction of $1,917,057.96. Following the completion of the transaction, the director now directly owns 45,409 shares of the company’s stock, valued at approximately $2,954,309.54. The trade was a 39.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Brendan Martin Mulshine sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $69.30, for a total transaction of $2,079,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 241,360 shares of company stock valued at $16,006,428 in the last ninety days. Company insiders own 11.10% of the company’s stock.

Ryan Specialty Stock Performance

Shares of RYAN stock opened at $72.44 on Tuesday. Ryan Specialty Holdings, Inc. has a one year low of $48.48 and a one year high of $75.97. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s 50 day moving average price is $68.27 and its 200-day moving average price is $68.07. The firm has a market cap of $18.97 billion, a P/E ratio of 104.99, a P/E/G ratio of 1.19 and a beta of 0.71.

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

Ryan Specialty Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.66%. This is a boost from Ryan Specialty’s previous quarterly dividend of $0.11. Ryan Specialty’s payout ratio is 69.57%.

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.