Patrick Ryan Buys 120,000 Shares of Ryan Specialty (NYSE:RYAN) Stock

Ryan Specialty Holdings Inc. (NYSE:RYAN) Chairman Patrick Ryan acquired 120,000 shares of Ryan Specialty stock in a transaction on Friday, June 5th. The shares were purchased at an average price of $32.50 per share, for a total transaction of $3,900,000.00. Following the completion of the purchase, the chairman directly owned 13,817,859 shares of the company’s stock, valued at approximately $449,080,417.50. This represents a 0.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Ryan Specialty Trading Up 5.6%

Shares of Ryan Specialty stock opened at $33.41 on Wednesday. The company has a market capitalization of $8.81 billion, a price-to-earnings ratio of 43.39, a PEG ratio of 0.76 and a beta of 0.64. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.90. Ryan Specialty Holdings Inc. has a 12-month low of $29.28 and a 12-month high of $69.49. The firm’s 50-day moving average price is $33.53 and its two-hundred day moving average price is $42.19.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. The firm had revenue of $795.23 million for the quarter, compared to the consensus estimate of $781.44 million. Ryan Specialty had a net margin of 8.21% and a return on equity of 41.33%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 earnings per share. On average, analysts forecast that Ryan Specialty Holdings Inc. will post 2.05 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Tuesday, May 12th. Ryan Specialty’s dividend payout ratio is presently 67.53%.

Ryan Specialty announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 26th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Ryan Specialty

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. lifted its stake in Ryan Specialty by 79.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,552,002 shares of the company’s stock valued at $389,910,000 after purchasing an additional 3,353,926 shares during the last quarter. Capital World Investors boosted its position in Ryan Specialty by 0.3% during the 4th quarter. Capital World Investors now owns 6,640,638 shares of the company’s stock worth $342,856,000 after buying an additional 17,082 shares during the period. Vulcan Value Partners LLC boosted its position in Ryan Specialty by 631.7% during the 4th quarter. Vulcan Value Partners LLC now owns 4,621,079 shares of the company’s stock worth $238,536,000 after buying an additional 3,989,502 shares during the period. Principal Financial Group Inc. boosted its position in Ryan Specialty by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 4,411,837 shares of the company’s stock worth $148,856,000 after buying an additional 37,339 shares during the period. Finally, Montrusco Bolton Investments Inc. boosted its position in Ryan Specialty by 9.3% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 4,343,116 shares of the company’s stock worth $218,010,000 after buying an additional 368,247 shares during the period. Institutional investors own 84.82% of the company’s stock.

Analyst Upgrades and Downgrades

RYAN has been the topic of a number of analyst reports. Cantor Fitzgerald reduced their price objective on shares of Ryan Specialty from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. BMO Capital Markets lowered shares of Ryan Specialty from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $66.00 to $43.00 in a report on Wednesday, February 25th. Mizuho set a $35.00 price objective on shares of Ryan Specialty in a research report on Friday, May 1st. Barclays dropped their price objective on shares of Ryan Specialty from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Finally, Wells Fargo & Company downgraded shares of Ryan Specialty from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $42.00 to $31.00 in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $47.12.

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.