Insider Buying: Ryan Specialty (NYSE:RYAN) Director Purchases $263,700.00 in Stock

Ryan Specialty Holdings Inc. (NYSE:RYAN) Director John Rogers, Jr. bought 7,500 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were acquired at an average price of $35.16 per share, for a total transaction of $263,700.00. Following the transaction, the director owned 117,933 shares in the company, valued at approximately $4,146,524.28. This represents a 6.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Ryan Specialty Stock Up 3.3%

NYSE RYAN opened at $35.64 on Friday. The business has a fifty day moving average price of $33.63 and a two-hundred day moving average price of $41.83. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.02 and a quick ratio of 1.02. Ryan Specialty Holdings Inc. has a fifty-two week low of $29.28 and a fifty-two week high of $69.49. The stock has a market capitalization of $9.40 billion, a PE ratio of 46.28, a PEG ratio of 0.86 and a beta of 0.64.

Ryan Specialty (NYSE:RYAN) last posted its earnings results on Thursday, April 30th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. The firm had revenue of $795.23 million for the quarter, compared to analysts’ expectations of $781.44 million. Ryan Specialty had a net margin of 8.21% and a return on equity of 41.33%. The company’s revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 earnings per share. Equities analysts expect that Ryan Specialty Holdings Inc. will post 2.05 earnings per share for the current fiscal year.

Ryan Specialty announced that its Board of Directors has initiated a share buyback program 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 programs are often a sign that the company’s board believes its stock is undervalued.

Ryan Specialty Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 1.5%. Ryan Specialty’s payout ratio is presently 67.53%.

Institutional Trading of Ryan Specialty

Several institutional investors and hedge funds have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. lifted its stake in Ryan Specialty by 79.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,552,002 shares of the company’s stock worth $389,910,000 after purchasing an additional 3,353,926 shares in the last quarter. Capital World Investors lifted its stake in Ryan Specialty by 0.3% in the 4th quarter. Capital World Investors now owns 6,640,638 shares of the company’s stock worth $342,856,000 after purchasing an additional 17,082 shares in the last quarter. Vulcan Value Partners LLC lifted its stake in Ryan Specialty by 631.7% in the 4th 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 in the last quarter. Principal Financial Group Inc. lifted its stake in Ryan Specialty by 0.9% in the 1st quarter. Principal Financial Group Inc. now owns 4,411,837 shares of the company’s stock worth $148,856,000 after purchasing an additional 37,339 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. lifted its stake in Ryan Specialty by 9.3% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 4,343,116 shares of the company’s stock worth $218,010,000 after purchasing an additional 368,247 shares in the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Zacks Research downgraded shares of Ryan Specialty from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. Morgan Stanley reduced their target price on shares of Ryan Specialty from $45.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, May 21st. Piper Sandler dropped their price target on shares of Ryan Specialty from $43.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Mizuho set a $35.00 price target on shares of Ryan Specialty in a research note on Friday, May 1st. Finally, Citigroup dropped their price target on shares of Ryan Specialty from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $47.12.

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.