TD Asset Management Inc Grows Position in Ryan Specialty Holdings Inc. $RYAN

TD Asset Management Inc lifted its stake in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 27.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 262,354 shares of the company’s stock after buying an additional 57,221 shares during the quarter. TD Asset Management Inc owned approximately 0.10% of Ryan Specialty worth $13,545,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

RYAN has been the topic of several research reports. JPMorgan Chase & Co. reduced their price target on shares of Ryan Specialty from $49.00 to $43.00 and set an “underweight” rating on the stock in a research report on Thursday, April 9th. Royal Bank Of Canada initiated coverage on shares of Ryan Specialty in a research report on Tuesday, March 17th. They issued an “outperform” rating and a $45.00 price target on the stock. Cantor Fitzgerald reduced their price target on shares of Ryan Specialty from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Weiss Ratings restated a “sell (d+)” rating on shares of Ryan Specialty in a research report on Monday, May 4th. Finally, Morgan Stanley reduced their price target on shares of Ryan Specialty from $45.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $46.35.

Insiders Place Their Bets

In related news, Chairman Patrick G. Ryan bought 120,000 shares of the stock in a transaction dated Friday, June 5th. The stock was purchased at an average cost of $32.50 per share, with a total value of $3,900,000.00. Following the completion of the purchase, the chairman owned 13,817,859 shares of the company’s stock, valued at $449,080,417.50. This trade represents a 0.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark Stephen Katz bought 3,215 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were bought at an average cost of $31.07 per share, with a total value of $99,890.05. Following the completion of the purchase, the executive vice president directly owned 4,332 shares of the company’s stock, valued at approximately $134,595.24. This trade represents a 287.82% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 52.03% of the company’s stock.

Ryan Specialty Trading Down 2.8%

RYAN stock opened at $31.66 on Tuesday. 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 twelve month low of $29.28 and a twelve month high of $69.49. The stock has a market capitalization 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 firm’s fifty day simple moving average is $33.49 and its two-hundred day simple moving average is $42.35.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. Ryan Specialty had a net margin of 8.21% and a return on equity of 41.33%. The business had revenue of $795.23 million for the quarter, compared to analysts’ expectations of $781.44 million. During the same quarter in the previous year, the business posted $0.39 earnings per share. The business’s revenue was up 15.2% compared to the same quarter last year. As a group, analysts anticipate that Ryan Specialty Holdings Inc. will post 2.05 earnings per share for the current year.

Ryan Specialty Announces Dividend

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

Ryan Specialty announced that its Board of Directors has initiated a share buyback plan on Tuesday, May 26th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Ryan Specialty Company Profile

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.