Ryan Specialty Holdings Inc. $RYAN Shares Acquired by California State Teachers Retirement System

California State Teachers Retirement System increased its holdings in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 27.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 131,356 shares of the company’s stock after acquiring an additional 28,095 shares during the period. California State Teachers Retirement System’s holdings in Ryan Specialty were worth $4,432,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio lifted its holdings in shares of Ryan Specialty by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 32,797 shares of the company’s stock worth $1,848,000 after purchasing an additional 203 shares in the last quarter. Covestor Ltd increased its stake in Ryan Specialty by 16.8% during the 4th quarter. Covestor Ltd now owns 1,467 shares of the company’s stock valued at $76,000 after purchasing an additional 211 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in Ryan Specialty by 1.0% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 25,355 shares of the company’s stock valued at $1,309,000 after purchasing an additional 240 shares in the last quarter. Federation des caisses Desjardins du Quebec raised its holdings 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 buying an additional 240 shares during the last quarter. Finally, Snowden Capital Advisors LLC lifted its stake in shares of Ryan Specialty by 1.3% in the second quarter. Snowden Capital Advisors LLC now owns 21,135 shares of the company’s stock valued at $1,437,000 after buying an additional 264 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Wall Street Analyst Weigh In

RYAN has been the subject of a number of analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ryan Specialty in a report on Friday, July 31st. Mizuho raised their price target on shares of Ryan Specialty from $39.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Bank of America cut their price target on Ryan Specialty from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Wolfe Research downgraded Ryan Specialty from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. Finally, Morgan Stanley raised their target price on Ryan Specialty from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Eight equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Ryan Specialty has a consensus rating of “Hold” and a consensus price target of $53.42.

Insider Transactions at Ryan Specialty

In related news, EVP Mark Stephen Katz purchased 3,215 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were bought at an average price of $31.07 per share, with a total value of $99,890.05. Following the acquisition, the executive vice president owned 4,332 shares of the company’s stock, valued at $134,595.24. This trade represents a 287.82% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Patrick G. Ryan acquired 120,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average price of $32.50 per share, for a total transaction of $3,900,000.00. Following the purchase, the chairman owned 13,817,859 shares of the company’s stock, valued at $449,080,417.50. The trade was a 0.88% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 130,715 shares of company stock worth $4,263,590 in the last quarter. Insiders own 52.03% of the company’s stock.

Ryan Specialty Trading Down 3.8%

Shares of Ryan Specialty stock opened at $42.78 on Friday. The firm has a market cap of $11.28 billion, a PE ratio of 59.42, a P/E/G ratio of 0.89 and a beta of 0.59. Ryan Specialty Holdings Inc. has a 1 year low of $29.28 and a 1 year high of $61.05. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.00 and a quick ratio of 1.02. The stock has a fifty day moving average price of $38.92 and a 200-day moving average price of $38.20.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.14. Ryan Specialty had a net margin of 7.55% and a return on equity of 43.97%. The company had revenue of $916.65 million during the quarter, compared to analyst estimates of $873.93 million. During the same quarter in the prior year, the business earned $0.66 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts anticipate that Ryan Specialty Holdings Inc. will post 2.15 EPS for the current year.

Ryan Specialty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, August 11th. Ryan Specialty’s dividend payout ratio is currently 72.22%.

Ryan Specialty announced that its Board of Directors has initiated a share buyback 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 a sign that the company’s board believes its stock is undervalued.

About Ryan Specialty

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.