T. Rowe Price Investment Management Inc. Acquires 3,353,926 Shares of Ryan Specialty Holdings Inc. $RYAN

T. Rowe Price Investment Management Inc. increased its stake in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 79.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,552,002 shares of the company’s stock after buying an additional 3,353,926 shares during the quarter. T. Rowe Price Investment Management Inc. owned 2.86% of Ryan Specialty worth $389,910,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Beck Mack & Oliver LLC purchased a new stake in Ryan Specialty in the 3rd quarter worth about $2,818,000. Westview Management dba Westview Investment Advisors bought a new position in Ryan Specialty during the fourth quarter worth about $2,082,000. Geneva Capital Management LLC boosted its position in Ryan Specialty by 11.2% during the third quarter. Geneva Capital Management LLC now owns 535,742 shares of the company’s stock worth $30,194,000 after purchasing an additional 53,810 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Ryan Specialty by 149.7% in the third quarter. JPMorgan Chase & Co. now owns 421,330 shares of the company’s stock worth $23,746,000 after purchasing an additional 252,582 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Ryan Specialty in the fourth quarter valued at approximately $20,776,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Ryan Specialty Stock Down 1.0%

Shares of NYSE:RYAN opened at $34.94 on Friday. The firm has a market capitalization of $9.21 billion, a PE ratio of 45.37, a price-to-earnings-growth ratio of 0.85 and a beta of 0.64. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.02 and a current ratio of 1.02. Ryan Specialty Holdings Inc. has a 52-week low of $29.28 and a 52-week high of $69.49. The firm has a fifty day moving average of $33.75 and a 200 day moving average of $41.08.

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

Ryan Specialty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, May 12th. Ryan Specialty’s dividend payout ratio (DPR) is currently 67.53%.

Ryan Specialty declared that its Board of Directors has approved a share repurchase program on Tuesday, May 26th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts recently commented on RYAN shares. Wells Fargo & Company cut shares of Ryan Specialty from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $42.00 to $31.00 in a research note on Friday, May 1st. Zacks Research cut Ryan Specialty from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. JPMorgan Chase & Co. cut their price objective on shares of Ryan Specialty from $49.00 to $43.00 and set an “underweight” rating for the company in a research report on Thursday, April 9th. BMO Capital Markets lowered shares of Ryan Specialty from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $66.00 to $43.00 in a report on Wednesday, February 25th. Finally, Piper Sandler cut their price target on shares of Ryan Specialty from $43.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Ryan Specialty presently has an average rating of “Hold” and a consensus price target of $47.12.

Insider Activity at Ryan Specialty

In other news, Director John W. Rogers, Jr. bought 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was bought at an average price of $35.16 per share, for a total transaction of $263,700.00. Following the transaction, the director directly owned 117,933 shares of the company’s stock, valued at $4,146,524.28. This represents a 6.79% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Patrick G. Ryan bought 120,000 shares of the business’s stock in a transaction 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 purchase, the chairman owned 13,817,859 shares of the company’s stock, valued at $449,080,417.50. This represents a 0.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have bought 130,715 shares of company stock valued at $4,263,590. Corporate insiders own 52.03% of the company’s stock.

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.