Principal Financial Group Inc. Has $148.86 Million Stock Holdings in Ryan Specialty Holdings Inc. $RYAN

Principal Financial Group Inc. lifted its holdings in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 0.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,411,837 shares of the company’s stock after purchasing an additional 37,339 shares during the period. Principal Financial Group Inc. owned 1.67% of Ryan Specialty worth $148,856,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new stake in Ryan Specialty in the fourth quarter worth approximately $25,000. Advisory Services Network LLC acquired a new stake in shares of Ryan Specialty during the 3rd quarter worth approximately $28,000. SBI Securities Co. Ltd. grew its position in shares of Ryan Specialty by 6,322.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 578 shares of the company’s stock worth $30,000 after buying an additional 569 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of Ryan Specialty by 173.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock valued at $37,000 after acquiring an additional 450 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Ryan Specialty in the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Analyst Ratings Changes

RYAN has been the topic of several research analyst reports. Barclays increased their target price on shares of Ryan Specialty from $39.00 to $46.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Citigroup decreased their price target on shares of Ryan Specialty from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, May 4th. Mizuho upped their price objective on shares of Ryan Specialty from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Cantor Fitzgerald increased their price objective on shares of Ryan Specialty from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Finally, The Goldman Sachs Group raised their target price on Ryan Specialty from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, July 1st. Eight investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Ryan Specialty currently has an average rating of “Hold” and a consensus price target of $50.00.

Insider Buying and Selling

In other Ryan Specialty news, Chairman Patrick G. Ryan purchased 120,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average price of $32.50 per share, with a total value of $3,900,000.00. Following the transaction, the chairman 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. purchased 7,500 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were bought at an average price of $35.16 per share, with a total value of $263,700.00. Following the purchase, the director directly owned 117,933 shares in the company, valued at approximately $4,146,524.28. The trade was a 6.79% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 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 Stock Performance

NYSE RYAN opened at $40.59 on Thursday. The company has a fifty day simple moving average of $35.21 and a 200 day simple moving average of $39.09. Ryan Specialty Holdings Inc. has a 12-month low of $29.28 and a 12-month high of $67.69. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.90. The company has a market cap of $10.70 billion, a P/E ratio of 52.71, a PEG ratio of 0.99 and a beta of 0.61.

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. 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 the consensus estimate of $781.44 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. The business’s revenue was up 15.2% on a year-over-year basis. Sell-side analysts predict 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 $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Tuesday, May 12th. Ryan Specialty’s dividend payout ratio is currently 67.53%.

Ryan Specialty announced that its Board of Directors has initiated a stock buyback 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 stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.