M&T Bank Corp Raises Stake in Ryan Specialty Holdings Inc. $RYAN

Key Points

• M&T Bank Corp boosted its stake in Ryan Specialty (RYAN) by 94.5% in Q4, acquiring an additional 47,458 shares to hold 97,680 shares worth about $5.04 million.
• Director Patrick G. Ryan Jr. made a direct insider purchase of 25,500 shares at $39.96 (~$1.02 million), lifting his total holdings to 428,295 shares and contributing to insiders owning roughly 52% of the stock.
• RYAN trades near $34.72, well below the MarketBeat consensus target of $51.35 and its 1-year high of $72.50; the company recently missed quarterly EPS estimates ($0.45 vs. $0.50) and raised its quarterly dividend to $0.13 despite a high payout ratio (~123.8%).

M&T Bank Corp lifted its stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 94.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 97,680 shares of the company's stock after purchasing an additional 47,458 shares during the quarter. M&T Bank Corp's holdings in Ryan Specialty were worth $5,043,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in RYAN. Advisory Services Network LLC purchased a new stake in Ryan Specialty during the third quarter worth about $28,000. Fifth Third Bancorp increased its holdings in Ryan Specialty by 65.4% in the third quarter. Fifth Third Bancorp now owns 612 shares of the company's stock valued at $34,000 after buying an additional 242 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in Ryan Specialty by 83.7% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 599 shares of the company's stock valued at $35,000 after buying an additional 273 shares in the last quarter. Quarry LP acquired a new stake in shares of Ryan Specialty during the 3rd quarter valued at approximately $37,000. Finally, Hantz Financial Services Inc. lifted its position in shares of Ryan Specialty by 878.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 851 shares of the company's stock valued at $48,000 after acquiring an additional 764 shares during the period. Hedge funds and other institutional investors own 84.82% of the company's stock.

Insider Activity at Ryan Specialty

In related news, Director Patrick G. Ryan, Jr. acquired 25,500 shares of the company's stock in a transaction that occurred on Monday, February 23rd. The stock was purchased at an average price of $39.96 per share, for a total transaction of $1,018,980.00. Following the transaction, the director owned 428,295 shares in the company, valued at $17,114,668.20. This trade represents a 6.33% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 52.03% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RYAN shares. Weiss Ratings cut Ryan Specialty from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, February 5th. Zacks Research cut Ryan Specialty from a "hold" rating to a "strong sell" rating in a report on Tuesday, February 24th. Citigroup decreased their target price on Ryan Specialty from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, March 23rd. Royal Bank Of Canada initiated coverage on Ryan Specialty in a report on Tuesday, March 17th. They issued an "outperform" rating and a $45.00 target price on the stock. Finally, Keefe, Bruyette & Woods dropped their price target on Ryan Specialty from $55.00 to $49.00 and set an "outperform" rating for the company in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $51.35.

Ryan Specialty Trading Up 0.3%

Shares of Ryan Specialty stock opened at $34.72 on Monday. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.98 and a quick ratio of 0.98. Ryan Specialty Holdings Inc. has a 1 year low of $31.50 and a 1 year high of $72.50. The company has a market capitalization of $9.17 billion, a P/E ratio of 82.66, a P/E/G ratio of 0.94 and a beta of 0.71. The business has a 50 day moving average price of $36.49 and a 200 day moving average price of $46.91.

Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its earnings results on Thursday, February 12th. The company reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.05). The company had revenue of $751.21 million for the quarter, compared to analyst estimates of $777.43 million. Ryan Specialty had a net margin of 7.02% and a return on equity of 46.41%. Ryan Specialty's quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.45 EPS. Sell-side analysts anticipate that Ryan Specialty Holdings Inc. will post 2.24 EPS for the current fiscal year.

Ryan Specialty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, February 24th. This is an increase from Ryan Specialty's previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.5%. Ryan Specialty's dividend payout ratio is 123.81%.

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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