Fifth Third Bancorp Purchases 31,440 Shares of Ryan Specialty Holdings Inc. $RYAN

Fifth Third Bancorp boosted its position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 4,844.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 32,089 shares of the company’s stock after purchasing an additional 31,440 shares during the period. Fifth Third Bancorp’s holdings in Ryan Specialty were worth $1,083,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Public Employees Retirement System of Ohio grew its holdings in shares of Ryan Specialty by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 32,797 shares of the company’s stock valued at $1,848,000 after buying an additional 203 shares during the last quarter. Covestor Ltd raised its holdings in Ryan Specialty by 16.8% in the 4th quarter. Covestor Ltd now owns 1,467 shares of the company’s stock worth $76,000 after acquiring an additional 211 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its position in Ryan Specialty by 1.0% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 25,355 shares of the company’s stock valued at $1,309,000 after acquiring an additional 240 shares in the last quarter. Federation des caisses Desjardins du Quebec lifted its position in Ryan Specialty by 7.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 3,313 shares of the company’s stock valued at $171,000 after acquiring an additional 240 shares in the last quarter. Finally, Snowden Capital Advisors LLC boosted its stake in Ryan Specialty by 1.3% during the 2nd quarter. Snowden Capital Advisors LLC now owns 21,135 shares of the company’s stock valued at $1,437,000 after purchasing an additional 264 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. purchased 7,500 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was acquired at an average cost of $35.16 per share, for a total transaction of $263,700.00. Following the purchase, the director directly owned 117,933 shares in the company, valued at $4,146,524.28. This trade represents a 6.79% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Stephen Katz purchased 3,215 shares of Ryan Specialty stock in a transaction dated Wednesday, June 3rd. The shares were acquired at an average cost of $31.07 per share, with a total value of $99,890.05. Following the transaction, the executive vice president directly owned 4,332 shares in the company, valued at approximately $134,595.24. The trade was a 287.82% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 130,715 shares of company stock valued at $4,263,590. Insiders own 52.03% of the company’s stock.

Ryan Specialty Price Performance

Shares of RYAN opened at $41.77 on Friday. The firm has a market cap of $11.01 billion, a PE ratio of 54.25, a P/E/G ratio of 0.91 and a beta of 0.61. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.90. The firm has a fifty day simple moving average of $36.59 and a two-hundred day simple moving average of $38.66. Ryan Specialty Holdings Inc. has a 1-year low of $29.28 and a 1-year high of $66.27.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.04. Ryan Specialty had a return on equity of 41.33% and a net margin of 8.21%.The firm had revenue of $795.23 million for the quarter, compared to analysts’ expectations of $781.44 million. During the same period in the prior year, the firm earned $0.39 EPS. The company’s revenue was up 15.2% compared to the same quarter last year. On average, equities analysts anticipate that Ryan Specialty Holdings Inc. will post 2.06 EPS for the current year.

Ryan Specialty declared that its Board of Directors has authorized a stock buyback program on Tuesday, May 26th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Ryan Specialty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, May 12th. Ryan Specialty’s dividend payout ratio (DPR) is presently 67.53%.

Analyst Ratings Changes

A number of research firms have commented on RYAN. UBS Group reduced their target price on Ryan Specialty from $52.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. Bank of America lowered their price target on Ryan Specialty from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Mizuho increased their price objective on Ryan Specialty from $35.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ryan Specialty in a report on Monday, May 4th. Finally, Wolfe Research lowered Ryan Specialty from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $50.00.

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.