A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RYAN. Royal Bank of Canada grew its position in shares of Ryan Specialty by 10.6% during the first quarter. Royal Bank of Canada now owns 59,639 shares of the company’s stock worth $4,406,000 after acquiring an additional 5,739 shares during the last quarter. AQR Capital Management LLC raised its position in Ryan Specialty by 25.1% in the 1st quarter. AQR Capital Management LLC now owns 4,972 shares of the company’s stock valued at $367,000 after purchasing an additional 998 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Ryan Specialty by 46.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 376,154 shares of the company’s stock worth $27,787,000 after purchasing an additional 119,055 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Ryan Specialty by 11.3% during 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 purchasing an additional 33,667 shares during the period. Finally, Creative Planning grew its position in Ryan Specialty by 15.4% during the 2nd quarter. Creative Planning now owns 4,586 shares of the company’s stock worth $312,000 after purchasing an additional 613 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.
Analysts Set New Price Targets Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Ryan Specialty from $39.00 to $45.00 and gave the stock an “underweight” rating in a report on Monday, August 3rd. Royal Bank Of Canada lifted their price objective on Ryan Specialty from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Bank of America dropped their target price on Ryan Specialty from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Wells Fargo & Company increased their target price on Ryan Specialty from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Finally, Piper Sandler raised their price target on Ryan Specialty from $44.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $53.42.
View Our Latest Research Report on RYAN
Insider Transactions at Ryan Specialty In other news, EVP Mark Stephen Katz purchased 3,215 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were purchased at an average price of $31.07 per share, with a total value of $99,890.05. Following the purchase, the executive vice president directly owned 4,332 shares of the company’s stock, valued at approximately $134,595.24. This represents a 287.82% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Patrick G. Ryan bought 120,000 shares of the company’s stock in a transaction dated 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 transaction, 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 130,715 shares of company stock valued at $4,263,590. Corporate insiders own 52.03% of the company’s stock.
Ryan Specialty Price Performance Shares of NYSE:RYAN opened at $42.78 on Monday. The company has a market cap of $10.94 billion, a P/E ratio of 59.42, a P/E/G ratio of 0.86 and a beta of 0.59. The business has a fifty day simple moving average of $38.92 and a 200-day simple moving average of $38.10. Ryan Specialty Holdings Inc. has a 52 week low of $29.28 and a 52 week high of $61.05. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 3.51.
Ryan Specialty (NYSE:RYAN – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.14. The business had revenue of $916.65 million during the quarter, compared to the consensus estimate of $873.93 million. Ryan Specialty had a return on equity of 43.97% and a net margin of 7.55%.The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 EPS. Equities research analysts forecast that Ryan Specialty Holdings Inc. will post 2.15 EPS for the current year.
Ryan Specialty Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be paid a dividend of $0.13 per share. The ex-dividend date is Tuesday, August 11th. 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 currently 72.22%.
Ryan Specialty announced that its Board of Directors has authorized a share buyback program on Tuesday, May 26th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 3.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.
Ryan Specialty Profile (Free Report)
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.
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