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

Ryan Specialty Holdings Inc. (NYSE:RYAN) Chairman Patrick Ryan bought 120,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was purchased at an average price of $32.50 per share, with a total value of $3,900,000.00. Following the transaction, the chairman owned 13,817,859 shares in the company, valued at $449,080,417.50. The trade was a 0.88% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Ryan Specialty Price Performance

NYSE RYAN opened at $31.66 on Tuesday. Ryan Specialty Holdings Inc. has a 52 week low of $29.28 and a 52 week high of $69.49. 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 stock has a market cap of $8.35 billion, a price-to-earnings ratio of 41.11, a price-to-earnings-growth ratio of 0.78 and a beta of 0.64. The company has a 50-day moving average price of $33.49 and a two-hundred day moving average price of $42.35.

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

Ryan Specialty declared that its board has approved a stock repurchase program on Tuesday, May 26th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to reacquire up to 3.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Ryan Specialty Dividend Announcement

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. The ex-dividend date was Tuesday, May 12th. This represents a $0.52 annualized dividend and a yield of 1.6%. Ryan Specialty’s dividend payout ratio is 67.53%.

Analyst Ratings Changes

RYAN has been the topic of a number of recent analyst reports. Bank of America dropped their price target on shares of Ryan Specialty from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. The Goldman Sachs Group downgraded shares of Ryan Specialty from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $42.00 to $35.00 in a research report on Monday. BMO Capital Markets downgraded shares of Ryan Specialty from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $66.00 to $43.00 in a research report on Wednesday, February 25th. Royal Bank Of Canada initiated coverage on shares of Ryan Specialty in a research report on Tuesday, March 17th. They set an “outperform” rating and a $45.00 price target on the stock. Finally, Citigroup dropped their price target on shares of Ryan Specialty from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Ryan Specialty has an average rating of “Hold” and a consensus price target of $46.35.

Institutional Investors Weigh In On Ryan Specialty

A number of large investors have recently made changes to their positions in the company. Beck Mack & Oliver LLC bought a new stake in Ryan Specialty in the third quarter worth approximately $2,818,000. Westview Management dba Westview Investment Advisors acquired a new position in Ryan Specialty during the fourth quarter worth $2,082,000. Geneva Capital Management LLC increased its position in Ryan Specialty by 11.2% during the third quarter. Geneva Capital Management LLC now owns 535,742 shares of the company’s stock worth $30,194,000 after buying an additional 53,810 shares during the last quarter. JPMorgan Chase & Co. increased its position in Ryan Specialty by 149.7% during the third quarter. JPMorgan Chase & Co. now owns 421,330 shares of the company’s stock worth $23,746,000 after buying an additional 252,582 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Ryan Specialty during the fourth quarter worth $20,776,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

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.