Ryan Specialty Holdings Inc. $RYAN Shares Purchased by Strs Ohio

Strs Ohio raised its position in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 1,967.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,653 shares of the company’s stock after purchasing an additional 50,106 shares during the period. Strs Ohio’s holdings in Ryan Specialty were worth $1,777,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its position in shares of Ryan Specialty by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 32,797 shares of the company’s stock valued at $1,848,000 after buying an additional 203 shares during the last quarter. Covestor Ltd lifted its stake in shares of Ryan Specialty by 16.8% during the fourth quarter. Covestor Ltd now owns 1,467 shares of the company’s stock valued at $76,000 after buying an additional 211 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its position in Ryan Specialty by 1.0% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 25,355 shares of the company’s stock worth $1,309,000 after acquiring an additional 240 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its position in Ryan Specialty by 7.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 3,313 shares of the company’s stock worth $171,000 after acquiring an additional 240 shares during the last quarter. Finally, Snowden Capital Advisors LLC grew its stake in Ryan Specialty by 1.3% in the 2nd quarter. Snowden Capital Advisors LLC now owns 21,135 shares of the company’s stock worth $1,437,000 after acquiring an additional 264 shares during the period. 84.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Zacks Research upgraded Ryan Specialty from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 30th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Ryan Specialty in a research report on Tuesday, May 26th. Wells Fargo & Company lowered Ryan Specialty from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $42.00 to $31.00 in a research note on Friday, May 1st. JPMorgan Chase & Co. reduced their target price on Ryan Specialty from $49.00 to $43.00 and set an “underweight” rating on the stock in a research report on Thursday, April 9th. Finally, Cantor Fitzgerald decreased their price target on Ryan Specialty from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Ryan Specialty presently has an average rating of “Hold” and an average price target of $47.59.

Ryan Specialty Trading Up 1.7%

Shares of NYSE:RYAN traded up $0.71 during trading on Tuesday, reaching $41.92. 105,352 shares of the stock were exchanged, compared to its average volume of 2,349,299. The firm’s 50-day moving average price is $34.15 and its 200 day moving average price is $39.65. The firm has a market cap of $11.05 billion, a price-to-earnings ratio of 54.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.61. Ryan Specialty Holdings Inc. has a 12-month low of $29.28 and a 12-month high of $67.69. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.02 and a current ratio of 1.02.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.47 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $781.44 million. During the same quarter last year, the firm posted $0.39 earnings per share. Ryan Specialty’s revenue for the quarter was up 15.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Ryan Specialty Holdings Inc. will post 2.06 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th were issued a dividend of $0.13 per share. The ex-dividend date was Tuesday, May 12th. This represents a $0.52 annualized dividend and a dividend yield of 1.2%. Ryan Specialty’s payout ratio is presently 67.53%.

Ryan Specialty declared that its board 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 repurchase up to 3.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Ryan Specialty news, EVP Mark Stephen Katz purchased 3,215 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was purchased at an average cost of $31.07 per share, with a total value of $99,890.05. Following the transaction, the executive vice president owned 4,332 shares in the company, valued at approximately $134,595.24. This trade represents a 287.82% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Patrick G. Ryan purchased 120,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average price 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 represents a 0.88% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders acquired 130,715 shares of company stock valued at $4,263,590. 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.