Ryan Specialty (NYSE:RYAN) EVP Mark Stephen Katz Buys 3,215 Shares

Ryan Specialty Holdings Inc. (NYSE:RYAN) EVP Mark Stephen Katz acquired 3,215 shares of Ryan Specialty stock in a transaction dated Wednesday, June 3rd. The shares were bought at an average price of $31.07 per share, with a total value of $99,890.05. Following the transaction, the executive vice president directly owned 4,332 shares in the company, valued at approximately $134,595.24. The trade was a 287.82% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ryan Specialty Stock Up 2.9%

Shares of NYSE:RYAN opened at $31.74 on Friday. The company has a market capitalization of $8.37 billion, a PE ratio of 41.23, a P/E/G ratio of 0.74 and a beta of 0.64. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.90. Ryan Specialty Holdings Inc. has a twelve month low of $29.28 and a twelve month high of $70.09. The firm has a 50 day simple moving average of $33.54 and a 200-day simple moving average of $42.70.

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, topping 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%. The company’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 EPS. On average, equities analysts predict that Ryan Specialty Holdings Inc. will post 2.05 EPS for the current fiscal year.

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

Ryan Specialty Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently commented on the stock. Mizuho set a $35.00 price target on shares of Ryan Specialty in a research report on Friday, May 1st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ryan Specialty in a research report on Monday, May 4th. Piper Sandler reduced their price target on shares of Ryan Specialty from $43.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Bank of America reduced their price target on shares of Ryan Specialty from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $42.00 price target on shares of Ryan Specialty in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Ryan Specialty has a consensus rating of “Hold” and an average price target of $46.76.

Hedge Funds Weigh In On Ryan Specialty

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC grew its stake in shares of Ryan Specialty by 54.9% during the 1st quarter. Parallel Advisors LLC now owns 1,013 shares of the company’s stock worth $34,000 after purchasing an additional 359 shares during the period. Bank of America Corp DE grew its stake in Ryan Specialty by 34.8% in the 1st quarter. Bank of America Corp DE now owns 1,508,083 shares of the company’s stock valued at $50,883,000 after acquiring an additional 389,505 shares during the last quarter. California State Teachers Retirement System grew its stake in Ryan Specialty by 27.2% in the 1st quarter. California State Teachers Retirement System now owns 131,356 shares of the company’s stock valued at $4,432,000 after acquiring an additional 28,095 shares during the last quarter. Royal Bank of Canada grew its stake in Ryan Specialty by 42.6% in the 1st quarter. Royal Bank of Canada now owns 87,248 shares of the company’s stock valued at $2,944,000 after acquiring an additional 26,047 shares during the last quarter. Finally, Quantinno Capital Management LP grew its stake in Ryan Specialty by 290.0% in the 1st quarter. Quantinno Capital Management LP now owns 247,767 shares of the company’s stock valued at $8,360,000 after acquiring an additional 184,238 shares during the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

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.