T. Rowe Price Investment Management Inc. Buys 3,353,926 Shares of Ryan Specialty Holdings Inc. $RYAN

T. Rowe Price Investment Management Inc. boosted its stake in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 79.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,552,002 shares of the company’s stock after buying an additional 3,353,926 shares during the period. T. Rowe Price Investment Management Inc.’s holdings in Ryan Specialty were worth $389,910,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital World Investors increased its stake in shares of Ryan Specialty by 0.3% in the fourth quarter. Capital World Investors now owns 6,640,638 shares of the company’s stock worth $342,856,000 after buying an additional 17,082 shares during the period. Vulcan Value Partners LLC raised its stake in shares of Ryan Specialty by 631.7% during the fourth quarter. Vulcan Value Partners LLC now owns 4,621,079 shares of the company’s stock valued at $238,536,000 after acquiring an additional 3,989,502 shares during the last quarter. Montrusco Bolton Investments Inc. boosted its holdings in shares of Ryan Specialty by 9.3% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 4,343,116 shares of the company’s stock worth $218,010,000 after purchasing an additional 368,247 shares during the period. Champlain Investment Partners LLC grew its stake in shares of Ryan Specialty by 76.9% in the third 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 during the last quarter. Finally, Morgan Stanley grew its stake in shares of Ryan Specialty by 3.4% in the fourth quarter. Morgan Stanley now owns 2,840,310 shares of the company’s stock worth $146,645,000 after purchasing an additional 92,593 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.

Insider Buying and Selling at Ryan Specialty

In related news, EVP Mark Stephen Katz purchased 3,215 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were 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 directly owned 4,332 shares in the company, valued at $134,595.24. This trade represents a 287.82% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Patrick G. Ryan purchased 120,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average price of $32.50 per share, for a total transaction of $3,900,000.00. Following the purchase, the chairman directly owned 13,817,859 shares in the company, valued at $449,080,417.50. The trade was a 0.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 130,715 shares of company stock valued at $4,263,590. Corporate insiders own 52.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Citigroup lowered their price target on Ryan Specialty from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, May 4th. Barclays reduced their target price on Ryan Specialty from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. Zacks Research downgraded Ryan Specialty from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. Royal Bank Of Canada started coverage on Ryan Specialty in a research note on Tuesday, March 17th. They issued an “outperform” rating and a $45.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price target on shares of Ryan Specialty from $49.00 to $43.00 and set an “underweight” rating on the stock in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $47.12.

Ryan Specialty Stock Performance

Shares of RYAN stock opened at $34.94 on Friday. The company’s fifty day moving average price is $33.75 and its 200-day moving average price is $41.08. The stock has a market cap of $9.21 billion, a PE ratio of 45.37, a price-to-earnings-growth ratio of 0.85 and a beta of 0.64. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.90. Ryan Specialty Holdings Inc. has a 12 month low of $29.28 and a 12 month high of $69.49.

Ryan Specialty (NYSE:RYAN) last issued 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 net margin of 8.21% and a return on equity of 41.33%. The company had revenue of $795.23 million during the quarter, compared to analyst estimates of $781.44 million. During the same period last year, the business earned $0.39 EPS. Ryan Specialty’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, equities analysts expect that Ryan Specialty Holdings Inc. will post 2.05 EPS for the current fiscal year.

Ryan Specialty announced that its board has approved a share repurchase program on Tuesday, May 26th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Ryan Specialty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, May 12th. Ryan Specialty’s dividend payout ratio is 67.53%.

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.