Victory Capital Management Inc. Lowers Position in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Victory Capital Management Inc. decreased its holdings in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 28.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 681,506 shares of the company’s stock after selling 265,717 shares during the period. Victory Capital Management Inc.’s holdings in Ryan Specialty were worth $43,725,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its holdings in shares of Ryan Specialty by 11.8% during the third quarter. Janney Montgomery Scott LLC now owns 16,994 shares of the company’s stock worth $1,128,000 after purchasing an additional 1,799 shares in the last quarter. Principal Financial Group Inc. lifted its position in Ryan Specialty by 148.9% during the third quarter. Principal Financial Group Inc. now owns 851,704 shares of the company’s stock valued at $56,545,000 after purchasing an additional 509,548 shares during the last quarter. Hollencrest Capital Management bought a new stake in Ryan Specialty during the third quarter valued at approximately $25,000. CWA Asset Management Group LLC purchased a new position in Ryan Specialty in the 3rd quarter worth approximately $248,000. Finally, Executive Wealth Management LLC increased its holdings in shares of Ryan Specialty by 96.4% in the 3rd quarter. Executive Wealth Management LLC now owns 8,383 shares of the company’s stock worth $557,000 after buying an additional 4,115 shares during the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RYAN has been the subject of several research reports. UBS Group upped their target price on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Morgan Stanley initiated coverage on Ryan Specialty in a report on Thursday, December 5th. They issued an “overweight” rating and a $90.00 price objective for the company. Barclays raised their price objective on Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Wells Fargo & Company increased 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, Royal Bank of Canada lowered their price objective on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $75.27.

Insiders Place Their Bets

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $66.71, for a total transaction of $2,334,850.00. Following the transaction, the director now owns 60,200 shares in the company, valued at approximately $4,015,942. This represents a 36.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 316,451 shares of company stock worth $20,907,793. 11.10% of the stock is currently owned by corporate insiders.

Ryan Specialty Price Performance

RYAN stock opened at $69.31 on Friday. The stock has a market capitalization of $18.15 billion, a price-to-earnings ratio of 100.45, a PEG ratio of 1.19 and a beta of 0.71. The firm’s 50-day moving average price is $66.57 and its two-hundred day moving average price is $67.59. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. Ryan Specialty Holdings, Inc. has a 12-month low of $48.48 and a 12-month high of $75.97.

Ryan Specialty (NYSE:RYAN) last released its quarterly 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). The business had revenue of $663.53 million for the quarter, compared to the consensus estimate of $658.80 million. Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. As a group, equities analysts predict that Ryan Specialty Holdings, Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.12 per share. This is an increase from Ryan Specialty’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Tuesday, March 4th. Ryan Specialty’s payout ratio is presently 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.