Norges Bank Acquires New Stake in Ryan Specialty Holdings Inc. $RYAN

Norges Bank acquired a new stake in Ryan Specialty Holdings Inc. (NYSE:RYAN) during the fourth quarter, HoldingsChannel reports. The fund acquired 1,172,693 shares of the company’s stock, valued at approximately $60,546,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Eurizon Capital SGR S.p.A. purchased a new position in Ryan Specialty in the 4th quarter valued at $234,000. Vulcan Value Partners LLC grew its position in Ryan Specialty by 631.7% in the 4th quarter. Vulcan Value Partners LLC now owns 4,621,079 shares of the company’s stock valued at $238,536,000 after buying an additional 3,989,502 shares during the last quarter. Geode Capital Management LLC grew its position in Ryan Specialty by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 2,151,206 shares of the company’s stock valued at $111,089,000 after buying an additional 60,847 shares during the last quarter. Hantz Financial Services Inc. boosted its position in shares of Ryan Specialty by 129.4% during the 4th quarter. Hantz Financial Services Inc. now owns 1,952 shares of the company’s stock worth $101,000 after purchasing an additional 1,101 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of Ryan Specialty by 294.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,994 shares of the company’s stock worth $103,000 after purchasing an additional 1,488 shares in the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ryan Specialty

In other Ryan Specialty news, EVP Mark Stephen Katz acquired 3,215 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were acquired at an average cost of $31.07 per share, for a total transaction of $99,890.05. Following the transaction, the executive vice president directly owned 4,332 shares of the company’s stock, valued at approximately $134,595.24. This represents a 287.82% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 52.03% of the stock is owned by corporate insiders.

Ryan Specialty Stock Performance

Shares of RYAN opened at $32.57 on Monday. Ryan Specialty Holdings Inc. has a 52-week low of $29.28 and a 52-week high of $70.08. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.90. The company has a 50-day simple moving average of $33.52 and a 200-day simple moving average of $42.53. The company has a market capitalization of $8.59 billion, a PE ratio of 42.30, a P/E/G ratio of 0.78 and a beta of 0.64.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.43 by $0.04. Ryan Specialty had a net margin of 8.21% and a return on equity of 41.33%. The business had revenue of $795.23 million for the quarter, compared to analyst estimates of $781.44 million. During the same period in the previous year, the firm earned $0.39 EPS. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. Equities research analysts predict that Ryan Specialty Holdings Inc. will post 2.05 earnings per share for the current fiscal year.

Ryan Specialty announced that its board has approved a stock 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 repurchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Ryan Specialty Dividend Announcement

The firm also recently disclosed 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 dividend yield of 1.6%. Ryan Specialty’s payout ratio is currently 67.53%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RYAN. JPMorgan Chase & Co. cut their price target on shares of Ryan Specialty from $49.00 to $43.00 and set an “underweight” rating for the company in a report on Thursday, April 9th. BMO Capital Markets downgraded shares of Ryan Specialty from an “outperform” rating to a “market perform” rating and cut their price target for the company from $66.00 to $43.00 in a report on Wednesday, February 25th. Wells Fargo & Company downgraded shares of Ryan Specialty from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $42.00 to $31.00 in a report on Friday, May 1st. Cantor Fitzgerald cut their price target on shares of Ryan Specialty from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Finally, UBS Group set a $39.00 price target on shares of Ryan Specialty in a report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Ryan Specialty currently has a consensus rating of “Hold” and an average price target of $46.76.

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.