Confluence Investment Management LLC Acquires Shares of 189,001 Ryan Specialty Holdings Inc. $RYAN

Key Points

• Confluence Investment Management acquired 189,001 Ryan Specialty shares worth approximately $7.1 million, giving it a 0.07% stake. Institutional investors collectively own 84.82% of the company.
• Ryan Specialty insiders purchased 130,715 shares worth about $4.3 million over the past 90 days, while the company authorized a $300 million share-repurchase program.
• The company exceeded quarterly expectations with adjusted EPS of $0.74 versus the $0.60 consensus and revenue of $916.65 million. Analysts maintain a consensus “Hold” rating with an average price target of $53.42.

Confluence Investment Management LLC acquired a new position in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 189,001 shares of the company's stock, valued at approximately $7,137,000. Confluence Investment Management LLC owned approximately 0.07% of Ryan Specialty as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the business. Los Angeles Capital Management LLC acquired a new position in Ryan Specialty during the 4th quarter worth about $25,000. Advisory Services Network LLC acquired a new stake in Ryan Specialty in the 3rd quarter valued at about $28,000. SBI Securities Co. Ltd. increased its position in Ryan Specialty by 6,322.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 578 shares of the company's stock valued at $30,000 after acquiring an additional 569 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Ryan Specialty by 54.9% in the first quarter. Parallel Advisors LLC now owns 1,013 shares of the company's stock worth $34,000 after acquiring an additional 359 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Ryan Specialty by 173.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company's stock worth $37,000 after acquiring an additional 450 shares during the last quarter. Institutional investors own 84.82% of the company's stock.

Insider Buying and Selling at Ryan Specialty

In other news, Chairman Patrick G. Ryan purchased 120,000 shares of the firm's stock in a transaction dated Friday, June 5th. The stock was bought at an average price of $32.50 per share, with a total value of $3,900,000.00. Following the acquisition, the chairman directly owned 13,817,859 shares of the company's stock, valued at approximately $449,080,417.50. This represents a 0.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John W. Rogers, Jr. acquired 7,500 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was purchased at an average price of $35.16 per share, with a total value of $263,700.00. Following the transaction, the director owned 117,933 shares in the company, valued at $4,146,524.28. This represents a 6.79% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders 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 RYAN opened at $44.62 on Wednesday. The stock has a market cap of $11.76 billion, a P/E ratio of 61.97, a price-to-earnings-growth ratio of 0.88 and a beta of 0.59. Ryan Specialty Holdings Inc. has a 1 year low of $29.28 and a 1 year high of $61.05. The stock's 50-day moving average price is $38.20 and its two-hundred day moving average price is $38.25. The company has a current ratio of 1.00, a quick ratio of 1.02 and a debt-to-equity ratio of 3.51.

Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.14. The company had revenue of $916.65 million during the quarter, compared to analysts' expectations of $873.93 million. Ryan Specialty had a return on equity of 43.97% and a net margin of 7.55%.Ryan Specialty's revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 EPS. On average, equities analysts predict that Ryan Specialty Holdings Inc. will post 2.14 earnings per share for the current year.

Ryan Specialty declared that its board has initiated a share repurchase plan on Tuesday, May 26th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to purchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Ryan Specialty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, August 11th. Ryan Specialty's dividend payout ratio is presently 72.22%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RYAN. JPMorgan Chase & Co. raised their price target on shares of Ryan Specialty from $39.00 to $45.00 and gave the company an "underweight" rating in a report on Monday. Royal Bank Of Canada boosted their target price on Ryan Specialty from $45.00 to $55.00 and gave the stock an "outperform" rating in a research report on Friday. Zacks Research raised Ryan Specialty from a "strong sell" rating to a "hold" rating in a research note on Tuesday, June 30th. Wells Fargo & Company lifted their price objective on Ryan Specialty from $39.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Monday. Finally, Citigroup upped their target price on shares of Ryan Specialty from $50.00 to $53.50 and gave the company a "buy" rating in a research report on Monday. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Ryan Specialty presently has an average rating of "Hold" and a consensus price target of $53.42.

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.

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