Principal Financial Group Inc. Purchases 37,339 Shares of Ryan Specialty Holdings Inc. $RYAN

Principal Financial Group Inc. grew its position in Ryan Specialty Holdings Inc. (NYSE:RYANFree Report) by 0.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 4,411,837 shares of the company’s stock after purchasing an additional 37,339 shares during the period. Principal Financial Group Inc.’s holdings in Ryan Specialty were worth $148,856,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RYAN. Royal Bank of Canada boosted its holdings in Ryan Specialty by 10.6% during the first quarter. Royal Bank of Canada now owns 59,639 shares of the company’s stock worth $4,406,000 after purchasing an additional 5,739 shares during the last quarter. AQR Capital Management LLC increased its stake in Ryan Specialty by 25.1% in the 1st quarter. AQR Capital Management LLC now owns 4,972 shares of the company’s stock valued at $367,000 after buying an additional 998 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Ryan Specialty by 46.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 376,154 shares of the company’s stock valued at $27,787,000 after buying an additional 119,055 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Ryan Specialty by 11.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 332,823 shares of the company’s stock worth $24,586,000 after buying an additional 33,667 shares in the last quarter. Finally, Creative Planning lifted its position in shares of Ryan Specialty by 15.4% during the 2nd quarter. Creative Planning now owns 4,586 shares of the company’s stock worth $312,000 after buying an additional 613 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Insider Transactions at Ryan Specialty

In other news, Chairman Patrick G. Ryan purchased 120,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were purchased at an average price of $32.50 per share, with a total value of $3,900,000.00. Following the completion of the acquisition, the chairman owned 13,817,859 shares in the company, valued at $449,080,417.50. This trade represents a 0.88% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mark Stephen Katz acquired 3,215 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was acquired at an average price of $31.07 per share, for a total transaction of $99,890.05. Following the transaction, the executive vice president directly owned 4,332 shares of the company’s stock, valued at $134,595.24. This represents a 287.82% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 130,715 shares of company stock valued at $4,263,590. 52.03% of the stock is currently owned by company insiders.

Ryan Specialty Price Performance

RYAN stock opened at $40.59 on Thursday. The firm has a 50 day moving average of $35.21 and a 200-day moving average of $39.09. The firm has a market capitalization of $10.70 billion, a P/E ratio of 52.71, a price-to-earnings-growth ratio of 0.99 and a beta of 0.61. 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.

Ryan Specialty (NYSE:RYANGet Free Report) last posted its earnings results on Thursday, April 30th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. Ryan Specialty had a net margin of 8.21% and a return on equity of 41.33%. The business had revenue of $795.23 million for the quarter, compared to analyst estimates of $781.44 million. During the same quarter in the prior year, the firm posted $0.39 EPS. Ryan Specialty’s revenue was up 15.2% on a year-over-year basis. As a group, sell-side analysts predict that Ryan Specialty Holdings Inc. will post 2.06 earnings per share for the current fiscal year.

Ryan Specialty declared that its Board of Directors has approved a stock buyback program on Tuesday, May 26th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Ryan Specialty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th were given a dividend of $0.13 per share. 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 payout ratio is 67.53%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on RYAN shares. Bank of America cut their target price on Ryan Specialty from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Citigroup dropped their price target on Ryan Specialty from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, May 4th. UBS Group cut their price objective on Ryan Specialty from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Morgan Stanley upped their price objective on Ryan Specialty from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Finally, Keefe, Bruyette & Woods raised their target price on Ryan Specialty from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Eight research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $50.00.

Check Out Our Latest Analysis on RYAN

About Ryan Specialty

(Free Report)

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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Institutional Ownership by Quarter for Ryan Specialty (NYSE:RYAN)

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