Norges Bank Buys New Holdings in Ryan Specialty Holdings Inc. $RYAN

Norges Bank bought a new stake in Ryan Specialty Holdings Inc. (NYSE:RYAN) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,172,693 shares of the company’s stock, valued at approximately $60,546,000. Norges Bank owned approximately 0.44% of Ryan Specialty as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Eurizon Capital SGR S.p.A. acquired a new stake in Ryan Specialty during the fourth quarter worth approximately $234,000. Vulcan Value Partners LLC raised its holdings in Ryan Specialty by 631.7% during the fourth quarter. Vulcan Value Partners LLC now owns 4,621,079 shares of the company’s stock worth $238,536,000 after purchasing an additional 3,989,502 shares in the last quarter. Geode Capital Management LLC raised its holdings in Ryan Specialty by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 2,151,206 shares of the company’s stock worth $111,089,000 after purchasing an additional 60,847 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in Ryan Specialty by 129.4% during the fourth quarter. Hantz Financial Services Inc. now owns 1,952 shares of the company’s stock worth $101,000 after purchasing an additional 1,101 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in Ryan Specialty by 294.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,994 shares of the company’s stock worth $103,000 after purchasing an additional 1,488 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mark Stephen Katz acquired 3,215 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were purchased at an average cost of $31.07 per share, for a total transaction 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. This represents a 287.82% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 52.03% of the stock is currently owned by company insiders.

Ryan Specialty Stock Performance

Shares of RYAN opened at $32.57 on Monday. 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 market cap of $8.59 billion, a PE ratio of 42.30, a price-to-earnings-growth ratio of 0.78 and a beta of 0.64. The company’s 50 day simple moving average is $33.52 and its 200-day simple moving average is $42.53. Ryan Specialty Holdings Inc. has a 12-month low of $29.28 and a 12-month high of $70.08.

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

Ryan Specialty declared that its board has authorized a share repurchase plan on Tuesday, May 26th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Ryan Specialty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders 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 dividend yield of 1.6%. Ryan Specialty’s dividend payout ratio (DPR) is 67.53%.

Analyst Upgrades and Downgrades

RYAN has been the topic of a number of research analyst reports. The Goldman Sachs Group reissued a “buy” rating and set a $42.00 price objective on shares of Ryan Specialty in a report on Friday, May 1st. Wells Fargo & Company cut shares of Ryan Specialty from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $42.00 to $31.00 in a report on Friday, May 1st. Barclays cut their price objective on shares of Ryan Specialty from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Citigroup cut their price objective on shares of Ryan Specialty from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, May 4th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating on shares of Ryan Specialty in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $46.76.

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.