Voya Investment Management LLC Sells 53,919 Shares of Ryan Specialty Holdings Inc. $RYAN

Voya Investment Management LLC reduced its position in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 50.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 52,526 shares of the company’s stock after selling 53,919 shares during the period. Voya Investment Management LLC’s holdings in Ryan Specialty were worth $2,960,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of RYAN. Allspring Global Investments Holdings LLC acquired a new position in Ryan Specialty in the second quarter valued at approximately $37,321,000. Hsbc Holdings PLC increased its stake in Ryan Specialty by 14.4% during the first quarter. Hsbc Holdings PLC now owns 4,182 shares of the company’s stock worth $309,000 after acquiring an additional 528 shares during the last quarter. United Services Automobile Association purchased a new stake in Ryan Specialty in the first quarter valued at $490,000. Allianz Asset Management GmbH lifted its stake in shares of Ryan Specialty by 55.7% in the 2nd quarter. Allianz Asset Management GmbH now owns 12,297 shares of the company’s stock valued at $836,000 after purchasing an additional 4,400 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Ryan Specialty by 142.1% in the 2nd quarter. Marshall Wace LLP now owns 380,116 shares of the company’s stock valued at $25,844,000 after purchasing an additional 223,124 shares during the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ryan Specialty

In other news, CEO Timothy William Turner sold 129,570 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $53.61, for a total transaction of $6,946,247.70. Following the sale, the chief executive officer owned 12,553 shares of the company’s stock, valued at approximately $672,966.33. This represents a 91.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 52.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RYAN. The Goldman Sachs Group cut their price objective on Ryan Specialty from $71.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Cowen reaffirmed a “buy” rating on shares of Ryan Specialty in a research note on Wednesday, November 26th. Wolfe Research upgraded shares of Ryan Specialty to a “strong-buy” rating in a research report on Tuesday, September 16th. Morgan Stanley set a $61.00 price target on shares of Ryan Specialty in a research note on Tuesday, December 16th. Finally, Barclays lowered their price objective on shares of Ryan Specialty from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $65.88.

Ryan Specialty Stock Up 0.1%

Shares of NYSE:RYAN opened at $51.88 on Friday. The firm has a market capitalization of $13.69 billion, a PE ratio of 112.78, a price-to-earnings-growth ratio of 1.45 and a beta of 0.62. Ryan Specialty Holdings Inc. has a 1 year low of $50.08 and a 1 year high of $77.16. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s 50-day moving average is $54.82 and its two-hundred day moving average is $58.16.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. The business had revenue of $754.58 million during the quarter, compared to analyst estimates of $742.35 million. Ryan Specialty had a net margin of 7.61% and a return on equity of 47.93%. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 earnings per share. Analysts predict that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current year.

Ryan Specialty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th were paid a $0.12 dividend. The ex-dividend date was Monday, November 10th. This represents a $0.48 annualized dividend and a dividend yield of 0.9%. Ryan Specialty’s payout ratio is 104.35%.

About Ryan Specialty

Ryan Specialty Group, Inc (NYSE: RYAN) is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients’ unique needs.

Ryan Specialty’s core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.