Insider Buying: Ryan Specialty (NYSE:RYAN) Director Purchases $1,018,980.00 in Stock

Ryan Specialty Holdings Inc. (NYSE:RYAN) Director Patrick Ryan, Jr. purchased 25,500 shares of the stock in a transaction dated Monday, February 23rd. The shares were purchased at an average price of $39.96 per share, for a total transaction of $1,018,980.00. Following the completion of the transaction, the director owned 428,295 shares in the company, valued at $17,114,668.20. This trade represents a 6.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ryan Specialty Trading Up 3.3%

Shares of Ryan Specialty stock opened at $39.22 on Friday. The business has a fifty day simple moving average of $47.66 and a 200-day simple moving average of $52.81. Ryan Specialty Holdings Inc. has a fifty-two week low of $37.29 and a fifty-two week high of $77.16. The firm has a market cap of $10.36 billion, a price-to-earnings ratio of 93.38, a price-to-earnings-growth ratio of 0.99 and a beta of 0.62. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 2.62.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.05). Ryan Specialty had a return on equity of 46.41% and a net margin of 7.02%.The business had revenue of $751.21 million during the quarter, compared to the consensus estimate of $777.43 million. During the same quarter last year, the firm posted $0.45 earnings per share. Ryan Specialty’s revenue was up 13.2% compared to the same quarter last year. On average, equities analysts forecast that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Tuesday, February 24th. This is an increase from Ryan Specialty’s previous quarterly dividend of $0.12. Ryan Specialty’s payout ratio is presently 123.81%.

Institutional Investors Weigh In On Ryan Specialty

Several hedge funds have recently bought and sold shares of RYAN. Sumitomo Mitsui Trust Group Inc. grew its holdings in Ryan Specialty by 2.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,387,108 shares of the company’s stock valued at $78,177,000 after purchasing an additional 33,588 shares during the last quarter. Cooper Investors PTY Ltd. lifted its stake in shares of Ryan Specialty by 33.9% in the third quarter. Cooper Investors PTY Ltd. now owns 505,374 shares of the company’s stock worth $28,483,000 after buying an additional 127,892 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Ryan Specialty by 142.1% in the second quarter. Marshall Wace LLP now owns 380,116 shares of the company’s stock worth $25,844,000 after buying an additional 223,124 shares during the last quarter. Waters Parkerson & CO. LLC boosted its holdings in shares of Ryan Specialty by 4.3% during the 3rd quarter. Waters Parkerson & CO. LLC now owns 508,120 shares of the company’s stock worth $28,638,000 after buying an additional 20,920 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Ryan Specialty by 56.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 68,671 shares of the company’s stock valued at $3,870,000 after buying an additional 24,656 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on RYAN. BMO Capital Markets lowered shares of Ryan Specialty from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $66.00 to $43.00 in a research report on Wednesday. Zacks Research cut Ryan Specialty from a “hold” rating to a “strong sell” rating in a report on Tuesday. Morgan Stanley reduced their target price on Ryan Specialty from $61.00 to $55.00 and set an “overweight” rating for the company in a report on Monday. UBS Group decreased their price target on Ryan Specialty from $71.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Finally, Piper Sandler cut their price objective on Ryan Specialty from $58.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Ryan Specialty presently has a consensus rating of “Hold” and a consensus target price of $57.47.

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.