California Public Employees Retirement System Has $6.69 Million Stake in Ryan Specialty Holdings Inc. $RYAN

California Public Employees Retirement System trimmed its stake in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 13.9% in the first quarter, Holdings Channel.com reports. The firm owned 198,221 shares of the company’s stock after selling 31,956 shares during the quarter. California Public Employees Retirement System’s holdings in Ryan Specialty were worth $6,688,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in RYAN. Royal Bank of Canada boosted its stake in shares of Ryan Specialty by 10.6% during the 1st quarter. Royal Bank of Canada now owns 59,639 shares of the company’s stock valued at $4,406,000 after buying an additional 5,739 shares during the period. AQR Capital Management LLC boosted its position in Ryan Specialty by 25.1% during the first quarter. AQR Capital Management LLC now owns 4,972 shares of the company’s stock valued at $367,000 after purchasing an additional 998 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Ryan Specialty by 46.3% during the first quarter. Goldman Sachs Group Inc. now owns 376,154 shares of the company’s stock valued at $27,787,000 after purchasing an additional 119,055 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Ryan Specialty by 11.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 332,823 shares of the company’s stock valued at $24,586,000 after purchasing an additional 33,667 shares in the last quarter. Finally, Creative Planning grew its stake in Ryan Specialty by 15.4% in the second quarter. Creative Planning now owns 4,586 shares of the company’s stock valued at $312,000 after purchasing an additional 613 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Ryan Specialty Stock Performance

Shares of NYSE RYAN opened at $41.77 on Monday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of 54.25, a P/E/G ratio of 0.91 and a beta of 0.61. The business’s 50-day simple moving average is $36.59 and its 200-day simple moving average is $38.56. Ryan Specialty Holdings Inc. has a 52 week low of $29.28 and a 52 week high of $66.27.

Ryan Specialty (NYSE:RYAN) last posted its earnings results on Thursday, April 30th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.04. The firm had revenue of $795.23 million during the quarter, compared to analyst estimates of $781.44 million. Ryan Specialty had a return on equity of 41.33% and a net margin of 8.21%.The company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 EPS. As a group, equities research analysts expect that Ryan Specialty Holdings Inc. will post 2.06 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

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

Ryan Specialty declared that its board has approved a share repurchase program on Tuesday, May 26th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RYAN. UBS Group cut their price target on Ryan Specialty from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. The Goldman Sachs Group boosted their price target on Ryan Specialty from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, July 1st. Morgan Stanley increased their price objective on Ryan Specialty from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Atlantic Securities set a $69.00 price objective on shares of Ryan Specialty in a research report on Wednesday, July 15th. Finally, Zacks Research upgraded shares of Ryan Specialty from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 30th. Eight investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $50.00.

Insider Transactions at Ryan Specialty

In other news, EVP Mark Stephen Katz acquired 3,215 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was acquired at an average cost of $31.07 per share, with a total value of $99,890.05. Following the acquisition, the executive vice president owned 4,332 shares in the company, valued at approximately $134,595.24. This represents a 287.82% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Patrick G. Ryan acquired 120,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were purchased at an average cost of $32.50 per share, with a total value of $3,900,000.00. Following the completion of the acquisition, the chairman owned 13,817,859 shares in the company, valued at $449,080,417.50. This trade represents a 0.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 130,715 shares of company stock worth $4,263,590. 52.03% of the stock is owned by insiders.

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.