Louisiana State Employees Retirement System Takes $1.12 Million Position in Ryan Specialty Holdings Inc. $RYAN

Key Points

• Louisiana State Employees Retirement System opened a new position in Ryan Specialty Holdings, buying 33,100 shares worth about $1.12 million in the first quarter.
• Ryan Specialty reported better-than-expected quarterly results, with EPS of $0.47 versus $0.43 expected and revenue of $795.23 million, up 15.2% year over year.
• The company has been active on shareholder returns, announcing a $0.13 quarterly dividend and a $300 million share repurchase program, while insiders also bought shares recently.

Louisiana State Employees Retirement System bought a new stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 33,100 shares of the company's stock, valued at approximately $1,117,000.

Several other institutional investors and hedge funds have also bought and sold shares of RYAN. Los Angeles Capital Management LLC bought a new stake in Ryan Specialty in the fourth quarter valued at approximately $25,000. Advisory Services Network LLC purchased a new stake in shares of Ryan Specialty during the third quarter valued at approximately $28,000. SBI Securities Co. Ltd. grew its holdings in shares of Ryan Specialty by 6,322.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 578 shares of the company's stock worth $30,000 after purchasing an additional 569 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings 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 purchasing an additional 450 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Ryan Specialty in the third quarter worth $37,000. 84.82% of the stock is currently owned by institutional investors.

Ryan Specialty Stock Down 0.0%

Shares of Ryan Specialty stock opened at $42.02 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.90. Ryan Specialty Holdings Inc. has a 12-month low of $29.28 and a 12-month high of $67.69. The company has a market cap of $11.08 billion, a P/E ratio of 54.57, a PEG ratio of 1.01 and a beta of 0.61. The company's fifty day simple moving average is $34.03 and its two-hundred day simple moving average is $39.84.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.43 by $0.04. The firm had revenue of $795.23 million during 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 quarterly revenue was up 15.2% compared to the same quarter last year. During the same period last year, the company posted $0.39 EPS. Research analysts anticipate that Ryan Specialty Holdings Inc. will post 2.06 EPS for the current year.

Ryan Specialty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were issued a $0.13 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $0.52 annualized dividend and a yield of 1.2%. Ryan Specialty's dividend payout ratio (DPR) is 67.53%.

Ryan Specialty declared that its board has initiated a share repurchase program on Tuesday, May 26th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to reacquire up to 3.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RYAN shares. Royal Bank Of Canada began coverage on shares of Ryan Specialty in a report on Tuesday, March 17th. They set an "outperform" rating and a $45.00 price target for the company. Mizuho set a $35.00 price objective on shares of Ryan Specialty in a research report on Friday, May 1st. Cantor Fitzgerald lowered their price objective on shares of Ryan Specialty from $45.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, April 9th. Zacks Research raised shares of Ryan Specialty from a "strong sell" rating to a "hold" rating in a research note on Tuesday, June 30th. Finally, Citigroup dropped their target price on shares of Ryan Specialty from $55.00 to $50.00 and set a "buy" rating for the company in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $47.41.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. bought 7,500 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $4,146,524.28. The trade was a 6.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Patrick G. Ryan bought 120,000 shares of the stock in a transaction dated Friday, June 5th. The stock was purchased at an average price of $32.50 per share, with a total value of $3,900,000.00. Following the purchase, the chairman owned 13,817,859 shares in the company, valued at $449,080,417.50. This trade represents a 0.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 130,715 shares of company stock worth $4,263,590 over the last three months. Company insiders own 52.03% of the company's stock.

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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