Illinois Municipal Retirement Fund Decreases Stake in Ryan Specialty Holdings Inc. $RYAN

Illinois Municipal Retirement Fund lessened its holdings in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 43.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,254 shares of the company’s stock after selling 13,133 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Ryan Specialty were worth $582,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of RYAN. Advisory Services Network LLC purchased a new stake in Ryan Specialty during the third quarter worth approximately $28,000. Los Angeles Capital Management LLC acquired a new position in shares of Ryan Specialty during the 4th quarter valued at $25,000. SBI Securities Co. Ltd. boosted its position in Ryan Specialty by 6,322.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 578 shares of the company’s stock worth $30,000 after purchasing an additional 569 shares during the period. Quarry LP purchased a new stake in Ryan Specialty during the 3rd quarter worth $37,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Ryan Specialty by 173.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock valued at $37,000 after purchasing an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Ryan Specialty Trading Up 4.5%

NYSE:RYAN opened at $41.77 on Friday. 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 one year low of $29.28 and a one year high of $66.27. The business’s 50-day simple moving average is $36.59 and its 200 day simple moving average is $38.66. The stock has a market cap of $11.01 billion, a price-to-earnings ratio of 54.25, a price-to-earnings-growth ratio of 0.87 and a beta of 0.61.

Ryan Specialty (NYSE:RYAN) last issued 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. Ryan Specialty had a return on equity of 41.33% and a net margin of 8.21%.The firm had revenue of $795.23 million during the quarter, compared to the consensus estimate of $781.44 million. During the same quarter in the prior year, the business posted $0.39 earnings per share. Ryan Specialty’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, sell-side analysts predict that Ryan Specialty Holdings Inc. will post 2.06 earnings per share for the current fiscal year.

Ryan Specialty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.2%. Ryan Specialty’s dividend payout ratio (DPR) is presently 67.53%.

Ryan Specialty announced that its Board of Directors has authorized a stock buyback plan on Tuesday, May 26th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RYAN. The Goldman Sachs Group upped their target price on Ryan Specialty from $35.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. Atlantic Securities set a $69.00 target price on Ryan Specialty in a report on Wednesday, July 15th. Citigroup reduced their price target on Ryan Specialty from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Piper Sandler upped their price target on Ryan Specialty from $40.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Ryan Specialty from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Ryan Specialty presently has an average rating of “Hold” and a consensus target price of $50.00.

Insider Buying and Selling

In related news, Chairman Patrick G. Ryan purchased 120,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was acquired at an average price of $32.50 per share, for a total transaction of $3,900,000.00. Following the completion of the purchase, the chairman owned 13,817,859 shares in the company, valued at approximately $449,080,417.50. This represents a 0.88% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 bought at an average cost of $31.07 per share, for a total transaction of $99,890.05. Following the completion of the acquisition, the executive vice president directly owned 4,332 shares of the company’s stock, 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 purchased 130,715 shares of company stock worth $4,263,590. 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.