Montrusco Bolton Investments Inc. Reduces Holdings in Ryan Specialty Holdings Inc. $RYAN

Montrusco Bolton Investments Inc. reduced its position in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 7.4% in the 1st quarter, Holdings Channel reports. The firm owned 4,022,506 shares of the company’s stock after selling 320,610 shares during the quarter. Ryan Specialty accounts for about 2.0% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 22nd largest position. Montrusco Bolton Investments Inc.’s holdings in Ryan Specialty were worth $132,091,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Beck Mack & Oliver LLC acquired a new stake in shares of Ryan Specialty in the third quarter valued at about $2,818,000. Westview Management dba Westview Investment Advisors purchased a new position in shares of Ryan Specialty in the fourth quarter worth about $2,082,000. Geneva Capital Management LLC boosted its position in Ryan Specialty by 11.2% during the third quarter. Geneva Capital Management LLC now owns 535,742 shares of the company’s stock worth $30,194,000 after acquiring an additional 53,810 shares during the last quarter. SG Americas Securities LLC acquired a new position in Ryan Specialty during the fourth quarter worth about $20,776,000. Finally, Stephens Investment Management Group LLC grew its stake in Ryan Specialty by 41.6% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,929,094 shares of the company’s stock valued at $99,599,000 after acquiring an additional 566,610 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Ryan Specialty Stock Down 0.0%

Shares of RYAN opened at $42.02 on Friday. The firm has a market cap of $11.08 billion, a P/E ratio of 54.57, a price-to-earnings-growth ratio of 1.01 and a beta of 0.61. Ryan Specialty Holdings Inc. has a 12-month low of $29.28 and a 12-month high of $67.69. The company’s 50-day moving average price is $34.03 and its 200 day moving average price is $39.84. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.90.

Ryan Specialty (NYSE:RYAN) last announced its earnings results on Thursday, April 30th. The company reported $0.47 earnings per share for the quarter, topping 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 company had revenue of $795.23 million during the quarter, compared to analyst estimates of $781.44 million. During the same quarter last year, the firm posted $0.39 earnings per share. Ryan Specialty’s revenue was up 15.2% compared to the same quarter last year. On average, sell-side analysts forecast that Ryan Specialty Holdings Inc. will post 2.06 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Tuesday, May 12th. Ryan Specialty’s dividend payout ratio is currently 67.53%.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on RYAN shares. Wells Fargo & Company downgraded shares of Ryan Specialty from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $42.00 to $31.00 in a report on Friday, May 1st. The Goldman Sachs Group upped their price target on Ryan Specialty from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday. Royal Bank Of Canada initiated coverage on Ryan Specialty in a report on Tuesday, March 17th. They issued an “outperform” rating and a $45.00 price target for the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ryan Specialty in a research report on Monday, May 4th. Finally, Morgan Stanley dropped their target price on Ryan Specialty from $45.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $47.41.

Insider Transactions at Ryan Specialty

In related news, EVP Mark Stephen Katz acquired 3,215 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was purchased at an average price of $31.07 per share, with a total value of $99,890.05. Following the transaction, the executive vice president owned 4,332 shares of the company’s stock, valued at approximately $134,595.24. This trade represents a 287.82% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John W. Rogers, Jr. bought 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was bought at an average price of $35.16 per share, with a total value of $263,700.00. Following the acquisition, the director directly owned 117,933 shares in the company, valued at $4,146,524.28. The trade was a 6.79% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 130,715 shares of company stock worth $4,263,590. 52.03% of the stock is currently owned by insiders.

Ryan Specialty 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.