Nicholas Company Inc. Invests $6.13 Million in Ryan Specialty Holdings Inc. $RYAN

Key Points

• Nicholas Company Inc. opened a new position in Ryan Specialty Holdings, buying 118,640 shares worth about $6.13 million in the fourth quarter.
• Institutional ownership remains very high, with 84.82% of the stock held by institutions and hedge funds. Several other large investors also increased their stakes in the company.
• Ryan Specialty reported better-than-expected quarterly results, with EPS of $0.47 versus $0.43 expected and revenue up 15.2% year over year, while also announcing a quarterly dividend of $0.13 per share.

Nicholas Company Inc. purchased a new position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 118,640 shares of the company's stock, valued at approximately $6,125,000.

A number of other large investors have also made changes to their positions in the business. Principal Financial Group Inc. increased its position in shares of Ryan Specialty by 21.1% in the 3rd quarter. Principal Financial Group Inc. now owns 4,392,717 shares of the company's stock valued at $247,576,000 after acquiring an additional 765,428 shares during the period. Montrusco Bolton Investments Inc. increased its position in shares of Ryan Specialty by 9.3% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 4,343,116 shares of the company's stock valued at $218,010,000 after acquiring an additional 368,247 shares during the period. Champlain Investment Partners LLC increased its position in shares of Ryan Specialty by 76.9% in the 3rd quarter. Champlain Investment Partners LLC now owns 3,066,011 shares of the company's stock valued at $172,800,000 after acquiring an additional 1,332,773 shares during the period. Viking Global Investors LP increased its position in shares of Ryan Specialty by 37.0% in the 3rd quarter. Viking Global Investors LP now owns 1,934,957 shares of the company's stock valued at $109,054,000 after acquiring an additional 522,190 shares during the period. Finally, Independent Franchise Partners LLP acquired a new position in shares of Ryan Specialty in the 3rd quarter valued at $95,798,000. 84.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RYAN has been the topic of several research reports. Keefe, Bruyette & Woods cut their target price on Ryan Specialty from $49.00 to $42.00 and set an "outperform" rating on the stock in a research report on Friday, May 1st. JPMorgan Chase & Co. cut their target price on Ryan Specialty from $49.00 to $43.00 and set an "underweight" rating on the stock in a research report on Thursday, April 9th. Piper Sandler lowered their price target on shares of Ryan Specialty from $43.00 to $35.00 and set a "neutral" rating on the stock in a report on Friday, May 1st. Citigroup lowered their price target on shares of Ryan Specialty from $55.00 to $50.00 and set a "buy" rating on the stock in a report on Monday, May 4th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Ryan Specialty in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $47.82.

Insiders Place Their Bets

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

Ryan Specialty Trading Down 0.2%

RYAN stock opened at $31.26 on Monday. The company's 50-day simple moving average is $35.54 and its 200-day simple moving average is $45.85. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.90. Ryan Specialty Holdings Inc. has a 52-week low of $29.28 and a 52-week high of $72.50. The firm has a market cap of $8.26 billion, a P/E ratio of 40.60, a PEG ratio of 0.73 and a beta of 0.68.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its earnings results 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. Ryan Specialty had a net margin of 8.21% and a return on equity of 41.33%. The business had revenue of $795.23 million for the quarter, compared to analyst estimates of $781.44 million. During the same period in the prior year, the company posted $0.39 EPS. The company's revenue for the quarter was up 15.2% on a year-over-year basis. As a group, equities analysts forecast that Ryan Specialty Holdings Inc. will post 2.08 EPS for the current fiscal year.

Ryan Specialty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $0.52 dividend on an annualized basis and a yield of 1.7%. Ryan Specialty's dividend payout ratio (DPR) is currently 67.53%.

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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