TD Asset Management Inc Raises Stake in Ryan Specialty Holdings Inc. $RYAN

TD Asset Management Inc grew its stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 27.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 262,354 shares of the company’s stock after purchasing an additional 57,221 shares during the quarter. TD Asset Management Inc’s holdings in Ryan Specialty were worth $13,545,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Ameritas Investment Partners Inc. boosted its stake in shares of Ryan Specialty by 0.9% during the third quarter. Ameritas Investment Partners Inc. now owns 21,119 shares of the company’s stock valued at $1,190,000 after purchasing an additional 185 shares during the period. Public Employees Retirement System of Ohio lifted its stake 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 acquiring an additional 203 shares during the period. Covestor Ltd lifted its stake in Ryan Specialty by 16.8% in the fourth quarter. Covestor Ltd now owns 1,467 shares of the company’s stock worth $76,000 after acquiring an additional 211 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its stake in Ryan Specialty by 1.0% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 25,355 shares of the company’s stock worth $1,309,000 after acquiring an additional 240 shares during the period. Finally, Fifth Third Bancorp lifted its stake in Ryan Specialty by 65.4% in the third quarter. Fifth Third Bancorp now owns 612 shares of the company’s stock worth $34,000 after acquiring an additional 242 shares during the period. 84.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Mark Stephen Katz purchased 3,215 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was acquired at an average cost of $31.07 per share, with a total value of $99,890.05. Following the completion of the transaction, the executive vice president owned 4,332 shares in the company, valued at $134,595.24. This represents a 287.82% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Patrick G. Ryan purchased 120,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were purchased at an average cost of $32.50 per share, with a total value of $3,900,000.00. Following the completion of the transaction, the chairman owned 13,817,859 shares of the company’s stock, valued at approximately $449,080,417.50. The trade was a 0.88% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 52.03% of the company’s stock.

Ryan Specialty Stock Performance

RYAN stock opened at $31.66 on Tuesday. The firm has a market cap of $8.35 billion, a price-to-earnings ratio of 41.11, a PEG ratio of 0.78 and a beta of 0.64. The firm has a 50-day simple moving average of $33.49 and a two-hundred day simple moving average of $42.35. Ryan Specialty Holdings Inc. has a one year low of $29.28 and a one year high of $69.49. 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 (NYSE:RYAN) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.43 by $0.04. The business had revenue of $795.23 million during the quarter, compared to analyst estimates of $781.44 million. Ryan Specialty had a net margin of 8.21% and a return on equity of 41.33%. The company’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 earnings per share. On average, equities analysts forecast 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 buyback plan on Tuesday, May 26th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to purchase up to 3.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Ryan Specialty Announces Dividend

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

Wall Street Analysts Forecast Growth

RYAN has been the subject of a number of research reports. JPMorgan Chase & Co. lowered 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 note on Thursday, April 9th. Piper Sandler lowered their price objective on shares of Ryan Specialty from $43.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Mizuho set a $35.00 price objective on shares of Ryan Specialty in a research note on Friday, May 1st. Zacks Research lowered shares of Ryan Specialty from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ryan Specialty in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $46.35.

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.