Stephens Investment Management Group LLC lifted its stake in Ryan Specialty Holdings Inc. (NYSE:RYAN – Free Report) by 25.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,424,337 shares of the company’s stock after purchasing an additional 495,243 shares during the period. Ryan Specialty accounts for about 1.1% of Stephens Investment Management Group LLC’s investment portfolio, making the stock its 21st biggest holding. Stephens Investment Management Group LLC’s holdings in Ryan Specialty were worth $81,797,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. boosted its position 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 acquiring an additional 3,353,926 shares in the last quarter. Capital World Investors lifted its stake in shares of Ryan Specialty by 0.3% in the 4th quarter. Capital World Investors now owns 6,640,638 shares of the company’s stock valued at $342,856,000 after purchasing an additional 17,082 shares during the period. Vulcan Value Partners LLC boosted its position 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 purchasing an additional 3,989,502 shares in the last quarter. Montrusco Bolton Investments Inc. grew its stake in Ryan Specialty by 9.3% in 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. Finally, Morgan Stanley raised its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on RYAN shares. Mizuho set a $35.00 target price on shares of Ryan Specialty in a report on Friday, May 1st. Zacks Research upgraded shares of Ryan Specialty from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 30th. Weiss Ratings reissued a “sell (d+)” rating on shares of Ryan Specialty in a research report on Monday, May 4th. UBS Group boosted their price objective on shares of Ryan Specialty from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Finally, Citigroup cut their price target on Ryan Specialty from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Ryan Specialty currently has a consensus rating of “Hold” and a consensus target price of $47.41.
Insiders Place Their Bets
In other news, Director John W. Rogers, Jr. purchased 7,500 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were purchased at an average cost of $35.16 per share, for a total transaction of $263,700.00. Following the purchase, the director directly owned 117,933 shares in the company, valued at approximately $4,146,524.28. This represents a 6.79% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Patrick G. Ryan acquired 120,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average cost of $32.50 per share, with a total value of $3,900,000.00. Following the acquisition, the chairman directly owned 13,817,859 shares of the company’s stock, valued at $449,080,417.50. This trade represents a 0.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 130,715 shares of company stock valued at $4,263,590. Company insiders own 52.03% of the company’s stock.
Ryan Specialty Stock Performance
Shares of NYSE RYAN opened at $42.02 on Friday. The firm’s 50-day moving average price is $34.03 and its 200-day moving average price is $39.84. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.90. The company has a market cap of $11.08 billion, a PE ratio of 54.57, a PEG ratio of 1.01 and a beta of 0.61. Ryan Specialty Holdings Inc. has a 52-week low of $29.28 and a 52-week high of $67.69.
Ryan Specialty (NYSE:RYAN – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.04. The firm had revenue of $795.23 million during the quarter, compared to analysts’ expectations of $781.44 million. Ryan Specialty had a net margin of 8.21% and a return on equity of 41.33%. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 earnings per share. As a group, analysts anticipate that Ryan Specialty Holdings Inc. will post 2.06 EPS for the current year.
Ryan Specialty Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, May 12th. Ryan Specialty’s payout ratio is 67.53%.
Ryan Specialty declared that its Board of Directors has initiated a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are usually 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.
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