Ryan Specialty (NYSE:RYAN) Chairman Acquires $3,900,000.00 in Stock

Ryan Specialty Holdings Inc. (NYSE:RYAN) Chairman Patrick Ryan purchased 120,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was bought 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 approximately $449,080,417.50. This represents a 0.88% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Ryan Specialty Trading Up 3.7%

NYSE:RYAN opened at $34.58 on Thursday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a 50-day moving average of $33.56 and a 200-day moving average of $42.03. The company has a market cap of $9.12 billion, a PE ratio of 44.91, a PEG ratio of 0.80 and a beta of 0.64. Ryan Specialty Holdings Inc. has a one year low of $29.28 and a one year high of $69.49.

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

Ryan Specialty declared that its board has approved a stock buyback 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 often an indication that the company’s leadership believes its shares are undervalued.

Ryan Specialty Dividend Announcement

The company also recently announced 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 of this dividend was Tuesday, May 12th. This represents a $0.52 annualized dividend and a dividend yield of 1.5%. Ryan Specialty’s dividend payout ratio (DPR) is currently 67.53%.

Analyst Upgrades and Downgrades

RYAN has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Ryan Specialty in a research note on Monday, May 4th. Morgan Stanley reduced their price objective on shares of Ryan Specialty from $45.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, May 21st. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Ryan Specialty in a report on Tuesday, May 26th. The Goldman Sachs Group downgraded shares of Ryan Specialty from a “buy” rating to a “neutral” rating and cut their price target for the company from $42.00 to $35.00 in a report on Monday. Finally, Zacks Research downgraded shares of Ryan Specialty from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Ryan Specialty presently has an average rating of “Hold” and an average target price of $47.12.

Hedge Funds Weigh In On Ryan Specialty

Hedge funds have recently modified their holdings of the company. Vulcan Value Partners LLC boosted its stake in shares of Ryan Specialty by 631.7% during the 4th quarter. Vulcan Value Partners LLC now owns 4,621,079 shares of the company’s stock valued at $238,536,000 after purchasing an additional 3,989,502 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Ryan Specialty by 79.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,552,002 shares of the company’s stock worth $389,910,000 after acquiring an additional 3,353,926 shares in the last quarter. Independent Franchise Partners LLP purchased a new position in Ryan Specialty in the 3rd quarter worth approximately $95,798,000. Adage Capital Partners GP L.L.C. increased its holdings in shares of Ryan Specialty by 1,510.0% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,610,000 shares of the company’s stock worth $83,124,000 after purchasing an additional 1,510,000 shares in the last quarter. Finally, Champlain Investment Partners LLC increased its holdings in shares of Ryan Specialty by 76.9% in the 3rd quarter. Champlain Investment Partners LLC now owns 3,066,011 shares of the company’s stock worth $172,800,000 after purchasing an additional 1,332,773 shares in the last quarter. Hedge funds and other institutional investors own 84.82% 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.