Insider Buying: Ryan Specialty (NYSE:RYAN) EVP Purchases 3,215 Shares of Stock

Ryan Specialty Holdings Inc. (NYSE:RYAN) EVP Mark Stephen Katz bought 3,215 shares of the company’s stock in a transaction that occurred on 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 completion of the acquisition, the executive vice president directly owned 4,332 shares in the company, valued at $134,595.24. This trade represents a 287.82% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ryan Specialty Stock Down 4.4%

Shares of Ryan Specialty stock opened at $30.86 on Thursday. 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 Holdings Inc. has a 52-week low of $29.28 and a 52-week high of $71.32. The company’s 50 day moving average price is $33.57 and its 200-day moving average price is $42.87. The stock has a market capitalization of $8.14 billion, a price-to-earnings ratio of 40.08, a P/E/G ratio of 0.78 and a beta of 0.64.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. The company 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 firm’s revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 EPS. Equities research analysts forecast that Ryan Specialty Holdings Inc. will post 2.04 EPS for the current year.

Ryan Specialty announced that its board has initiated a stock buyback program on Tuesday, May 26th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Ryan Specialty Announces Dividend

The company also recently announced 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 1.7%. The ex-dividend date was Tuesday, May 12th. Ryan Specialty’s dividend payout ratio is currently 67.53%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vulcan Value Partners LLC grew its position in Ryan Specialty by 631.7% during the 4th quarter. Vulcan Value Partners LLC now owns 4,621,079 shares of the company’s stock valued at $238,536,000 after purchasing an additional 3,989,502 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Ryan Specialty by 79.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,552,002 shares of the company’s stock worth $389,910,000 after purchasing an additional 3,353,926 shares during the last quarter. Independent Franchise Partners LLP purchased a new stake in shares of Ryan Specialty during the 3rd quarter valued at about $95,798,000. Adage Capital Partners GP L.L.C. increased its position in shares of Ryan Specialty by 1,510.0% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,610,000 shares of the company’s stock valued at $83,124,000 after purchasing an additional 1,510,000 shares during the last quarter. Finally, Champlain Investment Partners LLC lifted its stake in shares of Ryan Specialty by 76.9% in the 3rd quarter. Champlain Investment Partners LLC now owns 3,066,011 shares of the company’s stock worth $172,800,000 after purchasing an additional 1,332,773 shares during the period. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wells Fargo & Company downgraded Ryan Specialty from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $42.00 to $31.00 in a report on Friday, May 1st. Citigroup dropped their target price on shares of Ryan Specialty from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, May 4th. Barclays cut their target price on shares of Ryan Specialty from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. The Goldman Sachs Group reissued a “buy” rating and issued a $42.00 price target on shares of Ryan Specialty in a research note on Friday, May 1st. Finally, UBS Group set a $39.00 price objective on shares of Ryan Specialty in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.76.

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.