Peregrine Capital Management LLC Acquires 26,897 Shares of Ryan Specialty Holdings Inc. $RYAN

Peregrine Capital Management LLC lifted its stake in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 16.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 186,398 shares of the company’s stock after acquiring an additional 26,897 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.07% of Ryan Specialty worth $6,289,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new position in shares of Ryan Specialty in the fourth quarter valued at $25,000. Advisory Services Network LLC bought a new stake in shares of Ryan Specialty during the third quarter worth approximately $28,000. SBI Securities Co. Ltd. grew its position in shares of Ryan Specialty by 6,322.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 578 shares of the company’s stock valued at $30,000 after purchasing an additional 569 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Ryan Specialty by 173.7% during the fourth 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. Finally, Quarry LP bought a new position in shares of Ryan Specialty during the third quarter worth approximately $37,000. 84.82% of the stock is owned by institutional investors.

Ryan Specialty Trading Up 6.0%

RYAN opened at $40.02 on Thursday. The firm has a market capitalization of $10.55 billion, a price-to-earnings ratio of 51.98, a PEG ratio of 0.91 and a beta of 0.61. The company’s 50 day moving average price is $33.84 and its two-hundred day moving average price is $39.91. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.02 and a quick ratio of 1.02. Ryan Specialty Holdings Inc. has a fifty-two week low of $29.28 and a fifty-two week high of $67.69.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Thursday, April 30th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.04. The business had revenue of $795.23 million for 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%. Ryan Specialty’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 earnings per share. As a group, research analysts predict that Ryan Specialty Holdings Inc. will post 2.06 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The firm also recently disclosed 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 1.3%. The ex-dividend date was Tuesday, May 12th. Ryan Specialty’s dividend payout ratio (DPR) is currently 67.53%.

Ryan Specialty declared that its Board of Directors has approved a share buyback program on Tuesday, May 26th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have commented on RYAN. Citigroup decreased their price objective on Ryan Specialty from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, May 4th. JPMorgan Chase & Co. reduced their target price on shares of Ryan Specialty from $49.00 to $43.00 and set an “underweight” rating for the company in a research report on Thursday, April 9th. Mizuho set a $35.00 price target on shares of Ryan Specialty in a research note on Friday, May 1st. Barclays lowered their price target on shares of Ryan Specialty from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Finally, Cantor Fitzgerald dropped their price objective on shares of Ryan Specialty from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $47.41.

Insider Transactions at Ryan Specialty

In related news, EVP Mark Stephen Katz purchased 3,215 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was bought at an average price of $31.07 per share, for a total transaction of $99,890.05. Following the purchase, the executive vice president directly owned 4,332 shares in the company, valued at approximately $134,595.24. This trade represents a 287.82% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Patrick G. Ryan acquired 120,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were acquired at an average cost of $32.50 per share, for a total transaction of $3,900,000.00. Following the completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 130,715 shares of company stock valued at $4,263,590 over the last three months. Corporate insiders own 52.03% of the company’s stock.

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.