Clearbridge Investments LLC Sells 42,177 Shares of Ryan Specialty Holdings Inc. $RYAN

Clearbridge Investments LLC reduced its stake in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 2.2% during the 4th quarter, HoldingsChannel reports. The fund owned 1,881,074 shares of the company’s stock after selling 42,177 shares during the quarter. Clearbridge Investments LLC’s holdings in Ryan Specialty were worth $97,120,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Capital World Investors lifted its position in Ryan Specialty by 0.3% in the 4th quarter. Capital World Investors now owns 6,640,638 shares of the company’s stock valued at $342,856,000 after acquiring an additional 17,082 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Ryan Specialty in the 4th quarter valued at $25,000. Vestcor Inc bought a new stake in Ryan Specialty in the 4th quarter valued at $123,000. Vise Technologies Inc. bought a new stake in Ryan Specialty in the 4th quarter valued at $222,000. Finally, TD Asset Management Inc lifted its position in Ryan Specialty by 27.9% in the 4th quarter. TD Asset Management Inc now owns 262,354 shares of the company’s stock valued at $13,545,000 after acquiring an additional 57,221 shares in the last quarter. 84.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RYAN has been the topic of several recent research reports. UBS Group set a $39.00 price target on shares of Ryan Specialty in a research note on Thursday, May 21st. Royal Bank Of Canada initiated coverage on shares of Ryan Specialty in a research note on Tuesday, March 17th. They issued an “outperform” rating and a $45.00 price target on the stock. BMO Capital Markets lowered shares of Ryan Specialty from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $66.00 to $43.00 in a research note on Wednesday, February 25th. Mizuho set a $35.00 price target on shares of Ryan Specialty in a research note on Friday, May 1st. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Ryan Specialty in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.35.

Ryan Specialty Stock Down 2.8%

Ryan Specialty stock opened at $31.66 on Tuesday. The firm has a market capitalization of $8.35 billion, a PE ratio of 41.11, a P/E/G ratio of 0.78 and a beta of 0.64. The company’s 50-day moving average is $33.49 and its 200-day moving average is $42.35. Ryan Specialty Holdings Inc. has a fifty-two week low of $29.28 and a fifty-two week high of $69.49. 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 released its quarterly earnings data 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 company 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%. Ryan Specialty’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS. Sell-side analysts anticipate that Ryan Specialty Holdings Inc. will post 2.05 earnings per share for the current year.

Ryan Specialty Announces Dividend

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

Ryan Specialty announced that its Board of Directors has approved a stock repurchase program on Tuesday, May 26th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes 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 believes its stock is undervalued.

Insider Activity

In related news, Chairman Patrick G. Ryan bought 120,000 shares of Ryan Specialty stock in a transaction that occurred on Friday, June 5th. The stock was acquired at an average price of $32.50 per share, with a total value of $3,900,000.00. Following the acquisition, the chairman owned 13,817,859 shares of the company’s stock, valued at approximately $449,080,417.50. This represents a 0.88% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Stephen Katz bought 3,215 shares of Ryan Specialty stock in a transaction that occurred on 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 acquisition, the executive vice president directly owned 4,332 shares in the company, valued at $134,595.24. This trade represents a 287.82% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 52.03% of the company’s stock.

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.