Public Employees Retirement System of Ohio Makes New Investment in Ryan Specialty Holdings Inc. $RYAN

Key Points

• Public Employees Retirement System of Ohio bought 31,938 shares of Ryan Specialty Holdings in the second quarter, valued at approximately $1.2 million. Institutional investors and hedge funds collectively own 84.82% of the company.
• Analysts raised several price targets following Ryan Specialty’s latest results, but the overall consensus remains “Hold”, with an average target of $53.86.
• Ryan Specialty exceeded quarterly earnings and revenue expectations, reporting $0.74 in EPS and $916.65 million in revenue. The company also authorized a $300 million share repurchase program and pays a quarterly dividend of $0.13 per share.

Public Employees Retirement System of Ohio purchased a new stake in Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 31,938 shares of the company's stock, valued at approximately $1,206,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Advisory Services Network LLC purchased a new stake in Ryan Specialty during the third quarter worth about $28,000. Los Angeles Capital Management LLC purchased a new position in Ryan Specialty in the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. lifted its position in shares of Ryan Specialty by 6,322.2% during 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 during the period. Quarry LP acquired a new stake in shares of Ryan Specialty during the 3rd quarter valued at approximately $37,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Ryan Specialty by 173.7% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 84.82% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RYAN shares. Mizuho upped their price target on Ryan Specialty from $39.00 to $48.00 and gave the stock a "neutral" rating in a report on Friday, July 31st. Keefe, Bruyette & Woods boosted their target price on Ryan Specialty from $48.00 to $54.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. The Goldman Sachs Group upped their target price on Ryan Specialty from $40.00 to $45.00 and gave the company a "neutral" rating in a report on Friday, July 31st. Citigroup raised their price target on Ryan Specialty from $50.00 to $53.50 and gave the company a "buy" rating in a research report on Monday, August 3rd. Finally, Barclays lifted their price target on Ryan Specialty from $46.00 to $48.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Ryan Specialty currently has a consensus rating of "Hold" and an average price target of $53.86.

Ryan Specialty Trading Down 2.6%

Shares of Ryan Specialty stock opened at $40.82 on Wednesday. Ryan Specialty Holdings Inc. has a 1 year low of $29.28 and a 1 year high of $59.19. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50 day moving average price of $42.43 and a 200 day moving average price of $37.57. The company has a market capitalization of $10.44 billion, a P/E ratio of 56.70, a P/E/G ratio of 0.83 and a beta of 0.57.

Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its 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. Ryan Specialty had a return on equity of 43.97% and a net margin of 7.55%.The firm had revenue of $916.65 million for the quarter, compared to analysts' expectations of $873.93 million. During the same quarter in the prior year, the firm earned $0.66 EPS. Ryan Specialty's quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts anticipate that Ryan Specialty Holdings Inc. will post 2.18 EPS for the current fiscal year.

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

Ryan Specialty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.3%. Ryan Specialty's dividend payout ratio (DPR) is presently 72.22%.

Ryan Specialty 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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