Fifth Third Bancorp Buys 31,440 Shares of Ryan Specialty Holdings Inc. $RYAN

Key Points

• Fifth Third Bancorp dramatically increased its position in Ryan Specialty Holdings, buying 31,440 additional shares in the first quarter and lifting its stake by 4,844.4% to 32,089 shares worth about $1.08 million.
• Other institutions also added to their holdings, and institutional investors now own 84.82% of Ryan Specialty’s stock, indicating strong Wall Street interest in the company.
• Ryan Specialty reported solid quarterly results, with EPS of $0.47 beating estimates and revenue of $795.23 million topping forecasts; the company also announced a quarterly dividend and a $300 million share buyback.

Fifth Third Bancorp boosted its stake in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 4,844.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,089 shares of the company's stock after purchasing an additional 31,440 shares during the period. Fifth Third Bancorp's holdings in Ryan Specialty were worth $1,083,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Torray Investment Partners LLC grew its holdings in shares of Ryan Specialty by 12.7% in the first quarter. Torray Investment Partners LLC now owns 68,046 shares of the company's stock worth $2,296,000 after purchasing an additional 7,662 shares during the last quarter. Equitable Trust Co. raised its holdings in Ryan Specialty by 42.8% during the 1st quarter. Equitable Trust Co. now owns 113,579 shares of the company's stock valued at $3,832,000 after buying an additional 34,016 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Ryan Specialty by 3.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,417 shares of the company's stock valued at $790,000 after buying an additional 800 shares during the last quarter. KERR FINANCIAL PLANNING Corp boosted its position in Ryan Specialty by 83.7% during the 1st quarter. KERR FINANCIAL PLANNING Corp now owns 2,203 shares of the company's stock valued at $77,000 after buying an additional 1,004 shares during the period. Finally, Stephens Inc. AR boosted its position in Ryan Specialty by 15.0% during the 1st quarter. Stephens Inc. AR now owns 20,592 shares of the company's stock valued at $695,000 after buying an additional 2,680 shares during the period. Institutional investors own 84.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Ryan Specialty from $44.00 to $48.00 and gave the company an "outperform" rating in a research report on Wednesday, July 8th. UBS Group cut their target price on Ryan Specialty from $52.00 to $50.00 and set a "buy" rating on the stock in a research note on Wednesday, July 8th. Bank of America reduced their price target on Ryan Specialty from $70.00 to $68.00 and set a "buy" rating on the stock in a report on Tuesday, April 14th. Barclays upped their price target on Ryan Specialty from $39.00 to $46.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. Finally, Mizuho increased their price objective on Ryan Specialty from $35.00 to $39.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Eight equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $50.00.

Insider Buying and Selling

In other Ryan Specialty news, EVP Mark Stephen Katz acquired 3,215 shares of the business's stock in a transaction on Wednesday, June 3rd. The shares were acquired at an average price of $31.07 per share, for a total transaction of $99,890.05. Following the completion of the acquisition, the executive vice president owned 4,332 shares in the company, valued at $134,595.24. This trade represents a 287.82% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John W. 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 cost of $35.16 per share, with a total value of $263,700.00. Following the purchase, the director directly owned 117,933 shares of the company's stock, valued at approximately $4,146,524.28. This represents a 6.79% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 130,715 shares of company stock worth $4,263,590 in the last three months. 52.03% of the stock is owned by corporate insiders.

Ryan Specialty Price Performance

Shares of NYSE RYAN opened at $41.77 on Friday. Ryan Specialty Holdings Inc. has a 1 year low of $29.28 and a 1 year high of $66.27. The stock has a market capitalization of $11.01 billion, a P/E ratio of 54.25, a P/E/G ratio of 0.91 and a beta of 0.61. The company's 50-day moving average is $36.59 and its 200 day moving average is $38.66. 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 (NYSE:RYAN - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.47 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 analyst estimates 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 last year, the business posted $0.39 earnings per share. On average, sell-side analysts expect that Ryan Specialty Holdings Inc. will post 2.06 earnings per share for the current year.

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 $0.13 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.2%. Ryan Specialty's dividend payout ratio is currently 67.53%.

Ryan Specialty declared that its board has authorized a share buyback plan on Tuesday, May 26th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

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.

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