Royal Bank of Canada Boosts Position in Ryan Specialty Holdings Inc. $RYAN

Royal Bank of Canada raised its holdings in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 42.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 87,248 shares of the company’s stock after acquiring an additional 26,047 shares during the period. Royal Bank of Canada’s holdings in Ryan Specialty were worth $2,944,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Los Angeles Capital Management LLC purchased a new position in shares of Ryan Specialty during the fourth quarter worth $25,000. Advisory Services Network LLC purchased a new stake in Ryan Specialty in the third quarter valued at $28,000. SBI Securities Co. Ltd. grew its position in Ryan Specialty by 6,322.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 578 shares of the company’s stock worth $30,000 after purchasing an additional 569 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Ryan Specialty by 54.9% in the 1st quarter. Parallel Advisors LLC now owns 1,013 shares of the company’s stock valued at $34,000 after buying an additional 359 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Ryan Specialty by 173.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock worth $37,000 after buying an additional 450 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. acquired 7,500 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were acquired at an average cost of $35.16 per share, with a total value of $263,700.00. Following the completion of the acquisition, the director directly owned 117,933 shares in the company, valued at approximately $4,146,524.28. This trade represents a 6.79% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark Stephen Katz bought 3,215 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was bought at an average price of $31.07 per share, for a total transaction of $99,890.05. Following the transaction, the executive vice president owned 4,332 shares of the company’s stock, valued at approximately $134,595.24. This trade represents a 287.82% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders purchased 130,715 shares of company stock worth $4,263,590. Company insiders own 52.03% of the company’s stock.

Ryan Specialty Stock Down 2.5%

Shares of RYAN opened at $41.75 on Friday. The company has a current ratio of 1.00, a quick 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 $60.34. The stock’s 50 day moving average is $39.95 and its two-hundred day moving average is $37.90. The firm has a market cap of $10.68 billion, a P/E ratio of 57.99, a PEG ratio of 0.83 and a beta of 0.59.

Ryan Specialty (NYSE:RYAN) last announced its earnings results on Thursday, July 30th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.14. Ryan Specialty had a return on equity of 43.97% and a net margin of 7.55%.The business had revenue of $916.65 million during the quarter, compared to the consensus estimate of $873.93 million. During the same period in the prior year, the company posted $0.66 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts predict that Ryan Specialty Holdings Inc. will post 2.17 earnings per share for the current fiscal year.

Ryan Specialty announced that its board has approved a stock buyback program on Tuesday, May 26th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to repurchase up to 3.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Ryan Specialty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th will be given a dividend of $0.13 per share. The ex-dividend date is Tuesday, August 11th. This represents a $0.52 dividend on an annualized basis and a yield of 1.2%. Ryan Specialty’s dividend payout ratio is currently 72.22%.

Analyst Upgrades and Downgrades

Several analysts recently commented on RYAN shares. Mizuho raised their target price on Ryan Specialty from $39.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Atlantic Securities set a $69.00 price target on Ryan Specialty in a report on Wednesday, July 15th. Piper Sandler raised their price objective 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. Morgan Stanley lifted their target price on shares of Ryan Specialty from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Ryan Specialty in a research note on Friday, July 31st. Eight analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $53.42.

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.