Key Points
- Chairman Patrick Ryan bought 120,000 shares of Ryan Specialty at an average price of $32.50, spending $3.9 million and increasing his direct stake by 0.88% to 13.8 million shares.
- Ryan Specialty recently beat quarterly earnings and revenue estimates, reporting EPS of $0.47 versus $0.43 expected and revenue of $795.23 million, up 15.2% year over year.
- The company also announced a $300 million share buyback and a quarterly dividend of $0.13 per share, while analysts currently hold a consensus rating of “Hold” on the stock.
Ryan Specialty Holdings Inc. (NYSE:RYAN - Get Free Report) Chairman Patrick Ryan bought 120,000 shares of the stock in a transaction on 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 directly 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Ryan Specialty Price Performance
NYSE RYAN opened at $31.66 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.90. The company has a fifty day simple moving average of $33.49 and a 200 day simple moving average of $42.35. The company has a market cap of $8.35 billion, a P/E ratio of 41.11, a P/E/G ratio of 0.78 and a beta of 0.64. Ryan Specialty Holdings Inc. has a 1 year low of $29.28 and a 1 year high of $69.49.
Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.04. The business had revenue of $795.23 million during the quarter, compared to the consensus estimate of $781.44 million. Ryan Specialty had a net margin of 8.21% and a return on equity of 41.33%. Ryan Specialty's quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 EPS. On average, sell-side analysts predict that Ryan Specialty Holdings Inc. will post 2.05 EPS for the current year.
Ryan Specialty Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 12th. Ryan Specialty's dividend payout ratio is currently 67.53%.
Ryan Specialty announced that its board has initiated a stock buyback program on Tuesday, May 26th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to repurchase up to 3.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.
Institutional Investors Weigh In On Ryan Specialty
A number of hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. increased its position in shares of Ryan Specialty by 0.9% during the 3rd quarter. Ameritas Investment Partners Inc. now owns 21,119 shares of the company's stock worth $1,190,000 after purchasing an additional 185 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Ryan Specialty by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 32,797 shares of the company's stock worth $1,848,000 after purchasing an additional 203 shares in the last quarter. Covestor Ltd increased its position in shares of Ryan Specialty by 16.8% during the 4th quarter. Covestor Ltd now owns 1,467 shares of the company's stock worth $76,000 after purchasing an additional 211 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in Ryan Specialty by 1.0% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 25,355 shares of the company's stock worth $1,309,000 after acquiring an additional 240 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec grew its holdings in Ryan Specialty by 7.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 3,313 shares of the company's stock worth $171,000 after acquiring an additional 240 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on RYAN. Bank of America decreased their price objective on shares of Ryan Specialty from $70.00 to $68.00 and set a "buy" rating for the company in a report on Tuesday, April 14th. UBS Group set a $39.00 price objective on shares of Ryan Specialty in a report on Thursday, May 21st. Piper Sandler cut their target price on shares of Ryan Specialty from $43.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday, May 1st. Weiss Ratings reiterated a "sell (d+)" rating on shares of Ryan Specialty in a research note on Monday, May 4th. Finally, Morgan Stanley cut 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 note on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Ryan Specialty currently has a consensus rating of "Hold" and a consensus price target of $46.35.
View Our Latest Stock Analysis on RYAN
Ryan Specialty Company Profile
(
Get 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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