33,100 Shares in Ryan Specialty Holdings Inc. $RYAN Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 33,100 shares of the company’s stock, valued at approximately $1,117,000.

Several other hedge funds have also bought and sold shares of the business. Vulcan Value Partners LLC grew its holdings in Ryan Specialty by 631.7% in the fourth quarter. Vulcan Value Partners LLC now owns 4,621,079 shares of the company’s stock worth $238,536,000 after purchasing an additional 3,989,502 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Ryan Specialty by 79.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,552,002 shares of the company’s stock valued at $389,910,000 after purchasing an additional 3,353,926 shares during the last quarter. Independent Franchise Partners LLP bought a new stake in shares of Ryan Specialty in the 3rd quarter worth approximately $95,798,000. Adage Capital Partners GP L.L.C. boosted its position in shares of Ryan Specialty by 1,510.0% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,610,000 shares of the company’s stock worth $83,124,000 after purchasing an additional 1,510,000 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Ryan Specialty in the 4th quarter worth approximately $60,546,000. Institutional investors own 84.82% of the company’s stock.

Ryan Specialty Price Performance

Shares of RYAN opened at $42.02 on Friday. The company has a market capitalization 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. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.90. The firm has a 50 day moving average of $34.03 and a 200 day moving average of $39.84. Ryan Specialty Holdings Inc. has a twelve month low of $29.28 and a twelve month high of $67.69.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.04. The business had revenue of $795.23 million for the quarter, compared to analysts’ expectations of $781.44 million. Ryan Specialty had a return on equity of 41.33% and a net margin of 8.21%.The firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 EPS. As a group, equities research analysts anticipate that Ryan Specialty Holdings Inc. will post 2.06 earnings per share for the current fiscal year.

Ryan Specialty announced that its Board of Directors has approved a share repurchase program on Tuesday, May 26th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Ryan Specialty Dividend Announcement

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

Insider Transactions at Ryan Specialty

In other Ryan Specialty news, Chairman Patrick G. Ryan purchased 120,000 shares of the stock in a transaction dated Friday, June 5th. The shares were purchased at an average cost of $32.50 per share, with a total value of $3,900,000.00. Following the completion of the acquisition, the chairman directly owned 13,817,859 shares in the company, valued at $449,080,417.50. This trade represents a 0.88% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Stephen Katz acquired 3,215 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were acquired at an average cost of $31.07 per share, for a total transaction of $99,890.05. Following the completion of the transaction, the executive vice president directly owned 4,332 shares of the company’s stock, valued at $134,595.24. The trade was a 287.82% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 130,715 shares of company stock worth $4,263,590 over the last quarter. 52.03% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RYAN. Mizuho set a $35.00 price objective on Ryan Specialty in a research report on Friday, May 1st. Weiss Ratings reissued a “sell (d+)” rating on shares of Ryan Specialty in a report on Monday, May 4th. UBS Group increased their target price on Ryan Specialty from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Morgan Stanley reduced their price target on Ryan Specialty from $45.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, May 21st. Finally, Piper Sandler lowered their price target on Ryan Specialty from $43.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $47.41.

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.