Vancity Investment Management Ltd Takes $621,000 Position in Ryan Specialty Holdings Inc. $RYAN

Vancity Investment Management Ltd bought a new position in Ryan Specialty Holdings Inc. (NYSE:RYAN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 16,457 shares of the company’s stock, valued at approximately $621,000.

A number of other large investors have also bought and sold shares of the business. T. Rowe Price Investment Management Inc. increased its holdings in Ryan Specialty by 79.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,552,002 shares of the company’s stock valued at $389,910,000 after purchasing an additional 3,353,926 shares in the last quarter. Capital World Investors boosted its stake in 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 purchasing an additional 17,082 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Ryan Specialty by 3,567.5% during the second quarter. California State Teachers Retirement System now owns 4,817,496 shares of the company’s stock worth $181,909,000 after purchasing an additional 4,686,140 shares during the last quarter. Vulcan Value Partners LLC grew its holdings 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 worth $238,536,000 after purchasing an additional 3,989,502 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Ryan Specialty by 0.9% in the first quarter. Principal Financial Group Inc. now owns 4,411,837 shares of the company’s stock valued at $148,856,000 after buying an additional 37,339 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors.

Ryan Specialty Trading Down 0.0%

Shares of RYAN opened at $41.90 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 3.51. Ryan Specialty Holdings Inc. has a 12-month low of $29.28 and a 12-month high of $59.19. The firm has a market capitalization of $10.72 billion, a PE ratio of 58.20, a price-to-earnings-growth ratio of 0.83 and a beta of 0.57. The stock’s fifty day simple moving average is $42.31 and its 200-day simple moving average is $37.55.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.14. The business had revenue of $916.65 million for the quarter, compared to analysts’ expectations of $873.93 million. Ryan Specialty had a return on equity of 43.97% and a net margin of 7.55%.The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.66 earnings per share. As a group, research analysts predict that Ryan Specialty Holdings Inc. will post 2.18 earnings per share for the current year.

Ryan Specialty Dividend Announcement

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

Ryan Specialty announced that its board has approved a share repurchase plan on Tuesday, May 26th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Ryan Specialty from $39.00 to $45.00 and gave the company an “underweight” rating in a report on Monday, August 3rd. Weiss Ratings upgraded shares of Ryan Specialty from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 13th. Piper Sandler boosted their target price on shares of Ryan Specialty from $44.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. The Goldman Sachs Group upped their target price on shares of Ryan Specialty from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Finally, Zacks Research raised shares of Ryan Specialty from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 30th. Eight analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $53.86.

Insider Activity at Ryan Specialty

In other Ryan Specialty news, Director John Rogers, Jr. acquired 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were acquired at an average cost of $35.16 per share, for a total transaction of $263,700.00. Following the completion of the acquisition, the director directly owned 117,933 shares of the company’s stock, valued at approximately $4,146,524.28. This represents a 6.79% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 52.03% of the stock is currently owned by corporate insiders.

Ryan Specialty 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.