Corebridge Financial Inc. Sells 640 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Corebridge Financial Inc. decreased its holdings in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Ryan Specialty by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 9,880,504 shares of the company’s stock valued at $633,933,000 after buying an additional 529,631 shares during the last quarter. State Street Corp grew its holdings in Ryan Specialty by 1.5% during the third quarter. State Street Corp now owns 3,273,093 shares of the company’s stock valued at $217,301,000 after purchasing an additional 49,198 shares during the period. Janus Henderson Group PLC grew its stake in shares of Ryan Specialty by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 3,148,916 shares of the company’s stock valued at $209,058,000 after acquiring an additional 13,986 shares during the period. Principal Financial Group Inc. boosted its position in shares of Ryan Specialty by 115.2% in the fourth quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company’s stock worth $117,619,000 after purchasing an additional 981,505 shares during the period. Finally, Barclays PLC increased its stake in Ryan Specialty by 1.1% in the 3rd 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. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Ryan Specialty Stock Performance

RYAN stock opened at $72.83 on Friday. Ryan Specialty Holdings, Inc. has a one year low of $48.48 and a one year high of $75.97. The firm 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. 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 has a 50-day simple moving average of $68.61 and a two-hundred day simple moving average of $68.19.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Ryan Specialty had a return on equity of 48.01% and a net margin of 9.14%. The business had revenue of $663.53 million during the quarter, compared to analyst estimates of $658.80 million. On average, equities analysts forecast that Ryan Specialty Holdings, Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were given 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 yield of 0.66%. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.11. Ryan Specialty’s dividend payout ratio is currently 69.57%.

Insider Buying and Selling

In other Ryan Specialty news, EVP Brendan Martin Mulshine sold 30,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $69.30, for a total transaction of $2,079,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Nicholas Dominic Cortezi sold 29,466 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $65.06, for a total value of $1,917,057.96. Following the transaction, the director now owns 45,409 shares in the company, valued at $2,954,309.54. This trade represents a 39.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 241,360 shares of company stock worth $16,006,428. 11.10% of the stock is owned by company insiders.

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.