Ryan Specialty Holdings Inc. $RYAN Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 72.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 85,994 shares of the company’s stock after selling 225,150 shares during the quarter. Jennison Associates LLC’s holdings in Ryan Specialty were worth $2,901,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in Ryan Specialty during the third quarter worth about $28,000. Los Angeles Capital Management LLC purchased a new position in shares of Ryan Specialty in the 4th quarter worth about $25,000. SBI Securities Co. Ltd. lifted its stake in shares of Ryan Specialty by 6,322.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 578 shares of the company’s stock valued at $30,000 after purchasing an additional 569 shares in the last quarter. Quarry LP acquired a new position in shares of Ryan Specialty in the 3rd quarter valued at about $37,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Ryan Specialty by 173.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock worth $37,000 after purchasing an additional 450 shares during the period. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ryan Specialty

In other Ryan Specialty news, Director John W. Rogers, Jr. purchased 7,500 shares of Ryan Specialty stock in a transaction 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 owned 117,933 shares of the company’s stock, valued at $4,146,524.28. The trade was a 6.79% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Patrick G. Ryan acquired 120,000 shares of Ryan Specialty stock in a transaction that occurred on Friday, June 5th. The stock was bought 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 approximately $449,080,417.50. This trade represents a 0.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 130,715 shares of company stock worth $4,263,590. 52.03% of the stock is owned by insiders.

Ryan Specialty Stock Performance

Ryan Specialty stock opened at $40.81 on Wednesday. Ryan Specialty Holdings Inc. has a 52 week low of $29.28 and a 52 week high of $66.27. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.90. The stock has a market cap of $10.76 billion, a P/E ratio of 53.00, a price-to-earnings-growth ratio of 0.91 and a beta of 0.61. The stock has a 50 day moving average of $36.04 and a 200-day moving average of $38.80.

Ryan Specialty (NYSE:RYAN) last announced 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. Ryan Specialty had a return on equity of 41.33% and a net margin of 8.21%.The firm had revenue of $795.23 million during the quarter, compared to analyst estimates of $781.44 million. During the same period in the previous year, the company earned $0.39 earnings per share. Ryan Specialty’s quarterly revenue was up 15.2% on a year-over-year basis. On average, analysts expect that Ryan Specialty Holdings Inc. will post 2.06 EPS for the current fiscal year.

Ryan Specialty announced that its Board of Directors has authorized a share buyback plan on Tuesday, May 26th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Ryan Specialty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders 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 1.3%. The ex-dividend date was Tuesday, May 12th. Ryan Specialty’s dividend payout ratio (DPR) is presently 67.53%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on RYAN shares. Wells Fargo & Company lifted their price target on shares of Ryan Specialty from $31.00 to $39.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Mizuho increased their price objective on shares of Ryan Specialty from $35.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Barclays raised their target price on shares of Ryan Specialty from $39.00 to $46.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. UBS Group reduced their target price on shares of Ryan Specialty from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Ryan Specialty from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. Eight investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Ryan Specialty has an average rating of “Hold” and a consensus price target of $50.00.

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.