Corebridge Financial Inc. Reduces Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Corebridge Financial Inc. reduced its position in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 0.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 121,537 shares of the company’s stock after selling 640 shares during the period. Corebridge Financial Inc.’s holdings in Ryan Specialty were worth $7,798,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Sanctuary Advisors LLC lifted its holdings in Ryan Specialty by 1.2% in the fourth quarter. Sanctuary Advisors LLC now owns 15,690 shares of the company’s stock valued at $1,045,000 after acquiring an additional 188 shares during the period. State of Alaska Department of Revenue grew its position in Ryan Specialty by 1.6% during the fourth quarter. State of Alaska Department of Revenue now owns 12,130 shares of the company’s stock valued at $778,000 after acquiring an additional 190 shares during the period. CIBC Asset Management Inc raised its stake in shares of Ryan Specialty by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 3,674 shares of the company’s stock valued at $236,000 after acquiring an additional 196 shares during the period. Loomis Sayles & Co. L P raised its holdings in shares of Ryan Specialty by 26.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,373 shares of the company’s stock valued at $91,000 after buying an additional 286 shares during the period. Finally, Exchange Traded Concepts LLC increased its stake in Ryan Specialty by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 11,760 shares of the company’s stock worth $755,000 after buying an additional 295 shares during the period. Institutional investors and hedge funds own 84.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on RYAN shares. Morgan Stanley initiated coverage on Ryan Specialty in a report on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price target for the company. Royal Bank of Canada dropped their price target on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. UBS Group upped their price objective on shares of Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Keefe, Bruyette & Woods reduced their price target on shares of Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. Finally, Wells Fargo & Company lifted their target price on shares of Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $75.27.

Ryan Specialty Trading Up 1.8 %

Shares of Ryan Specialty stock opened at $72.83 on Friday. The company’s fifty day simple moving average is $68.61 and its 200-day simple moving average is $68.19. Ryan Specialty Holdings, Inc. has a 1 year low of $48.48 and a 1 year high of $75.97. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. The company has a market cap of $19.07 billion, a price-to-earnings ratio of 105.55, a PEG ratio of 1.19 and a beta of 0.71.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.45 earnings per share (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 for the quarter, compared to the consensus estimate of $658.80 million. As a group, sell-side analysts expect that Ryan Specialty Holdings, Inc. will post 2.29 EPS for the current year.

Ryan Specialty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a $0.12 dividend. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Tuesday, March 4th. Ryan Specialty’s dividend payout ratio is currently 69.57%.

Insider Buying and Selling at Ryan Specialty

In related news, Director Nicholas Dominic Cortezi sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $65.99, for a total value of $2,309,650.00. Following the completion of the transaction, the director now owns 35,609 shares in the company, valued at $2,349,837.91. The trade was a 49.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Brendan Martin Mulshine sold 30,000 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $69.30, for a total value of $2,079,000.00. The disclosure for this sale can be found here. Insiders have sold 241,360 shares of company stock worth $16,006,428 over the last three months. Company insiders own 11.10% of the company’s stock.

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.