Westfield Capital Management Co. LP Sells 463,800 Shares of Ryan Specialty Holdings Inc. $RYAN

Westfield Capital Management Co. LP cut its holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 36.3% in the fourth quarter, HoldingsChannel reports. The firm owned 814,334 shares of the company’s stock after selling 463,800 shares during the period. Westfield Capital Management Co. LP’s holdings in Ryan Specialty were worth $42,044,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of RYAN. Beck Mack & Oliver LLC bought a new position in shares of Ryan Specialty in the third quarter worth about $2,818,000. Westview Management dba Westview Investment Advisors bought a new position in shares of Ryan Specialty in the fourth quarter worth about $2,082,000. Geneva Capital Management LLC boosted its stake in shares of 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 acquiring an additional 53,810 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of 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 acquiring an additional 252,582 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Ryan Specialty in the fourth quarter worth about $20,776,000. 84.82% of the stock is currently owned by institutional investors.

Ryan Specialty Price Performance

NYSE:RYAN opened at $32.57 on Friday. The firm has a market capitalization of $8.59 billion, a price-to-earnings ratio of 42.30, a PEG ratio of 0.77 and a beta of 0.64. Ryan Specialty Holdings Inc. has a 1 year low of $29.28 and a 1 year high of $70.08. The business has a 50 day simple moving average of $33.52 and a 200-day simple moving average of $42.63. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.02 and a quick ratio of 1.02.

Ryan Specialty (NYSE:RYAN) last issued its quarterly 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 for the quarter, compared to the consensus estimate 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 prior year, the business posted $0.39 earnings per share. Equities analysts forecast that Ryan Specialty Holdings Inc. will post 2.05 EPS for the current year.

Ryan Specialty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors 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 dividend on an annualized basis and a yield of 1.6%. Ryan Specialty’s dividend payout ratio is currently 67.53%.

Ryan Specialty announced that its Board of Directors has approved 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 reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

RYAN has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered Ryan Specialty from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $42.00 to $31.00 in a research note on Friday, May 1st. UBS Group set a $39.00 price objective on Ryan Specialty in a research note on Thursday, May 21st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ryan Specialty in a research note on Monday, May 4th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Ryan Specialty in a research note on Tuesday, May 26th. Finally, BMO Capital Markets lowered Ryan Specialty from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $66.00 to $43.00 in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $46.76.

Insiders Place Their Bets

In other Ryan Specialty news, EVP Mark Stephen Katz acquired 3,215 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was acquired at an average cost of $31.07 per share, for a total transaction of $99,890.05. Following the purchase, the executive vice president owned 4,332 shares in the company, valued at approximately $134,595.24. The trade was a 287.82% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 52.03% of the company’s stock.

Ryan Specialty 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.