Retirement Systems of Alabama Grows Stake in Ryan Specialty Holdings Inc. $RYAN

Retirement Systems of Alabama lifted its position in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 1.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 131,568 shares of the company’s stock after purchasing an additional 2,070 shares during the quarter. Retirement Systems of Alabama owned about 0.05% of Ryan Specialty worth $8,945,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RYAN. Whittier Trust Co. of Nevada Inc. boosted its stake in Ryan Specialty by 281.6% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company’s stock valued at $25,000 after buying an additional 245 shares during the period. SVB Wealth LLC bought a new stake in shares of Ryan Specialty during the 1st quarter valued at about $26,000. WPG Advisers LLC bought a new stake in shares of Ryan Specialty during the 1st quarter valued at about $32,000. Central Pacific Bank Trust Division purchased a new position in shares of Ryan Specialty during the second quarter worth about $31,000. Finally, Quarry LP increased its position in shares of Ryan Specialty by 977.8% in the first quarter. Quarry LP now owns 582 shares of the company’s stock worth $43,000 after purchasing an additional 528 shares during the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. UBS Group decreased their price target on shares of Ryan Specialty from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Barclays restated an “overweight” rating and set a $70.00 price target on shares of Ryan Specialty in a research report on Wednesday, October 8th. JPMorgan Chase & Co. cut their price objective on Ryan Specialty from $64.00 to $63.00 and set an “underweight” rating for the company in a report on Thursday, October 9th. Citigroup initiated coverage on Ryan Specialty in a report on Wednesday, August 13th. They set a “buy” rating and a $74.00 price objective on the stock. Finally, Cantor Fitzgerald upgraded Ryan Specialty to a “hold” rating in a research report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.58.

Insider Activity at Ryan Specialty

In other news, Chairman Patrick G. Ryan purchased 276,634 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was bought at an average cost of $51.84 per share, for a total transaction of $14,340,706.56. Following the acquisition, the chairman directly owned 13,699,959 shares of the company’s stock, valued at $710,205,874.56. This represents a 2.06% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 52.21% of the stock is currently owned by insiders.

Ryan Specialty Stock Up 8.5%

RYAN opened at $55.01 on Monday. Ryan Specialty Holdings Inc. has a 12 month low of $50.08 and a 12 month high of $77.16. The company has a current ratio of 1.00, a quick ratio of 1.01 and a debt-to-equity ratio of 2.72. The business’s 50-day moving average price is $54.51 and its 200-day moving average price is $61.87. The company has a market cap of $14.51 billion, a P/E ratio of 119.58, a P/E/G ratio of 1.51 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last issued its earnings results on Thursday, October 30th. The company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. Ryan Specialty had a return on equity of 47.93% and a net margin of 7.61%.The company had revenue of $754.58 million during the quarter, compared to analysts’ expectations of $742.35 million. During the same period in the prior year, the business posted $0.41 EPS. Ryan Specialty’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, equities analysts expect that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current year.

Ryan Specialty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th will be issued a $0.12 dividend. The ex-dividend date is Monday, November 10th. This represents a $0.48 annualized dividend and a dividend yield of 0.9%. Ryan Specialty’s dividend payout ratio (DPR) is currently 104.35%.

Ryan Specialty Profile

Ryan Specialty Holdings, Inc operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers in the United States, Canada, the United Kingdom, Europe, and Singapore. It offers distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter.