Y Intercept Hong Kong Ltd Makes New Investment in Ryan Specialty Holdings Inc. $RYAN

Y Intercept Hong Kong Ltd purchased a new stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) during the 1st quarter, HoldingsChannel reports. The firm purchased 49,446 shares of the company’s stock, valued at approximately $1,668,000.

Other hedge funds have also modified their holdings of the company. Royal Bank of Canada raised its stake in shares of Ryan Specialty by 10.6% in the first quarter. Royal Bank of Canada now owns 59,639 shares of the company’s stock worth $4,406,000 after purchasing an additional 5,739 shares during the last quarter. AQR Capital Management LLC boosted its position in Ryan Specialty by 25.1% in the first quarter. AQR Capital Management LLC now owns 4,972 shares of the company’s stock valued at $367,000 after buying an additional 998 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Ryan Specialty by 46.3% in the first quarter. Goldman Sachs Group Inc. now owns 376,154 shares of the company’s stock valued at $27,787,000 after buying an additional 119,055 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Ryan Specialty by 11.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 332,823 shares of the company’s stock worth $24,586,000 after buying an additional 33,667 shares during the period. Finally, Creative Planning increased its holdings in Ryan Specialty by 15.4% in the 2nd quarter. Creative Planning now owns 4,586 shares of the company’s stock worth $312,000 after buying an additional 613 shares during the period. 84.82% of the stock is owned by institutional investors and hedge funds.

Ryan Specialty Price Performance

Shares of NYSE RYAN opened at $40.59 on Friday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $10.70 billion, a price-to-earnings ratio of 52.72, a PEG ratio of 0.99 and a beta of 0.61. The firm’s 50 day simple moving average is $34.53 and its 200-day simple moving average is $39.40. Ryan Specialty Holdings Inc. has a 12 month low of $29.28 and a 12 month high of $67.69.

Ryan Specialty (NYSE:RYAN) last posted 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. Ryan Specialty had a net margin of 8.21% and a return on equity of 41.33%. The firm had revenue of $795.23 million during the quarter, compared to analysts’ expectations of $781.44 million. During the same period in the previous year, the business posted $0.39 EPS. The business’s revenue was up 15.2% compared to the same quarter last year. Analysts expect that Ryan Specialty Holdings Inc. will post 2.05 EPS for the current year.

Ryan Specialty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.3%. Ryan Specialty’s dividend payout ratio is 67.53%.

Ryan Specialty declared that its Board of Directors has authorized a stock buyback program on Tuesday, May 26th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to repurchase up to 3.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

RYAN has been the subject of several research reports. Keefe, Bruyette & Woods lifted their price objective on shares of Ryan Specialty from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday. Royal Bank Of Canada started coverage on shares of Ryan Specialty in a research note on Tuesday, March 17th. They issued an “outperform” rating and a $45.00 price objective on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Ryan Specialty in a report on Monday, May 4th. Piper Sandler decreased their target price 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. Finally, Zacks Research raised shares of Ryan Specialty from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 30th. Eight investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $48.59.

Ryan Specialty News Summary

Here are the key news stories impacting Ryan Specialty this week:

• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on Ryan Specialty to $48 from $44 and kept an outperform rating, signaling continued upside potential. Benzinga report
• Positive Sentiment: UBS lifted its target to $50 from $52 and reiterated a buy rating, suggesting analysts still see meaningful upside from current levels. Benzinga report
• Neutral Sentiment: Ryan Specialty announced that Nirvana will acquire certain assets of its Swedish subsidiary, a transaction that appears to be a limited portfolio change rather than a major companywide shift. Article link

Insiders Place Their Bets

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

About Ryan Specialty

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.