Ryan Specialty Holdings Inc. $RYAN Holdings Decreased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 43.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 17,254 shares of the company’s stock after selling 13,133 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Ryan Specialty were worth $582,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its holdings in Ryan Specialty by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 32,797 shares of the company’s stock worth $1,848,000 after purchasing an additional 203 shares during the period. Covestor Ltd raised its holdings in shares of Ryan Specialty by 16.8% during the fourth quarter. Covestor Ltd now owns 1,467 shares of the company’s stock worth $76,000 after purchasing an additional 211 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its position in shares of Ryan Specialty by 1.0% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 25,355 shares of the company’s stock worth $1,309,000 after buying an additional 240 shares during the last quarter. Federation des caisses Desjardins du Quebec lifted its position in shares of Ryan Specialty by 7.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 3,313 shares of the company’s stock worth $171,000 after buying an additional 240 shares during the last quarter. Finally, Snowden Capital Advisors LLC boosted its holdings in shares of Ryan Specialty by 1.3% in the 2nd quarter. Snowden Capital Advisors LLC now owns 21,135 shares of the company’s stock valued at $1,437,000 after buying an additional 264 shares during the period. 84.82% of the stock is currently owned by institutional investors.

Insider Transactions at Ryan Specialty

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

Ryan Specialty Stock Up 4.5%

Ryan Specialty stock opened at $41.77 on Friday. 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 one year low of $29.28 and a one year high of $66.27. The company has a 50-day simple moving average of $36.59 and a 200-day simple moving average of $38.66. The firm has a market capitalization of $11.01 billion, a P/E ratio of 54.25, a P/E/G ratio of 0.87 and a beta of 0.61.

Ryan Specialty (NYSE:RYAN) last issued 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. The firm had revenue of $795.23 million for 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 quarterly revenue was up 15.2% compared to the same quarter last year. During the same period last year, the firm posted $0.39 EPS. As a group, equities analysts expect that Ryan Specialty Holdings Inc. will post 2.06 earnings per share for the current year.

Ryan Specialty declared that its board has initiated a stock repurchase plan on Tuesday, May 26th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Ryan Specialty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders 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 1.2%. The ex-dividend date of this dividend was Tuesday, May 12th. Ryan Specialty’s payout ratio is 67.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Ryan Specialty from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Cantor Fitzgerald raised their target price on shares of Ryan Specialty from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Morgan Stanley lifted their target price on Ryan Specialty from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Barclays upped their target price on Ryan Specialty from $39.00 to $46.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Finally, Mizuho raised their price target on Ryan Specialty from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price 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.