Insider Buying: Ryan Specialty (NYSE:RYAN) Chairman Buys 120,000 Shares of Stock

Ryan Specialty Holdings Inc. (NYSE:RYAN) Chairman Patrick Ryan bought 120,000 shares of the firm’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 completion of the purchase, the chairman directly owned 13,817,859 shares of the company’s stock, valued at $449,080,417.50. This represents a 0.88% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ryan Specialty Stock Performance

Shares of RYAN stock opened at $32.57 on Monday. The company has a fifty day moving average price of $33.52 and a two-hundred day moving average price of $42.53. Ryan Specialty Holdings Inc. has a one year low of $29.28 and a one year high of $70.08. The stock has a market cap of $8.59 billion, a P/E ratio of 42.30, a P/E/G ratio of 0.78 and a beta of 0.64. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.02 and a quick ratio of 1.02.

Ryan Specialty (NYSE:RYAN) last issued its earnings results on Thursday, April 30th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.04. The business had revenue of $795.23 million during the quarter, compared to the consensus estimate of $781.44 million. Ryan Specialty had a net margin of 8.21% and a return on equity of 41.33%. Ryan Specialty’s revenue was up 15.2% on a year-over-year basis. During the same period last year, the business posted $0.39 EPS. As a group, equities analysts predict that Ryan Specialty Holdings Inc. will post 2.05 EPS for the current year.

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

Ryan Specialty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Tuesday, May 12th. Ryan Specialty’s dividend payout ratio is 67.53%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. raised its position in Ryan Specialty by 79.9% during the fourth 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 raised its holdings in shares of Ryan Specialty by 0.3% during the 4th quarter. Capital World Investors now owns 6,640,638 shares of the company’s stock worth $342,856,000 after buying an additional 17,082 shares in the last quarter. Vulcan Value Partners LLC lifted its position in shares of Ryan Specialty by 631.7% during the 4th quarter. Vulcan Value Partners LLC now owns 4,621,079 shares of the company’s stock worth $238,536,000 after buying an additional 3,989,502 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Ryan Specialty by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 4,411,837 shares of the company’s stock worth $148,856,000 after buying an additional 37,339 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. boosted 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 valued at $218,010,000 after buying an additional 368,247 shares in the last quarter. 84.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RYAN shares. Barclays decreased their price objective on shares of Ryan Specialty from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Bank of America reduced their target price on shares of Ryan Specialty from $70.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Ryan Specialty in a research note on Tuesday, May 26th. JPMorgan Chase & Co. lowered their price target on shares of Ryan Specialty from $49.00 to $43.00 and set an “underweight” rating on the stock in a report on Thursday, April 9th. Finally, Morgan Stanley cut their price objective on shares of Ryan Specialty from $45.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Ryan Specialty presently has an average rating of “Hold” and an average target price of $46.35.

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.