Royal Bank of Canada Buys 26,047 Shares of Ryan Specialty Holdings Inc. $RYAN

Key Points

• Royal Bank of Canada increased its Ryan Specialty position by 42.6% in the first quarter, purchasing 26,047 shares for a total holding of 87,248 shares valued at approximately $2.94 million. Institutional investors own 84.82% of the company.
• Ryan Specialty exceeded quarterly expectations, reporting $0.74 in EPS versus a $0.60 consensus estimate and $916.65 million in revenue, up 7.2% year over year. The board also authorized a $300 million share buyback, while the company announced a $0.13 quarterly dividend.
• Analyst sentiment is mixed but leans positive, with eight Buy, nine Hold, and two Sell ratings; the consensus price target is $53.42 compared with a recent share price of $41.75.

Royal Bank of Canada increased its position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 42.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 87,248 shares of the company's stock after purchasing an additional 26,047 shares during the period. Royal Bank of Canada's holdings in Ryan Specialty were worth $2,944,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Qsemble Capital Management LP bought a new position in shares of Ryan Specialty in the fourth quarter worth about $2,823,000. Stephens Investment Management Group LLC increased its holdings in Ryan Specialty by 41.6% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,929,094 shares of the company's stock valued at $99,599,000 after buying an additional 566,610 shares during the period. Mawer Investment Management Ltd. lifted its stake in shares of Ryan Specialty by 11.9% during the 4th quarter. Mawer Investment Management Ltd. now owns 525,172 shares of the company's stock worth $27,115,000 after purchasing an additional 55,716 shares during the last quarter. Entropy Technologies LP bought a new position in Ryan Specialty in the first quarter worth about $2,189,000. Finally, Vulcan Value Partners LLC raised its holdings in Ryan Specialty by 631.7% in the fourth quarter. Vulcan Value Partners LLC now owns 4,621,079 shares of the company's stock worth $238,536,000 after purchasing an additional 3,989,502 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company's stock.

Ryan Specialty Stock Performance

Shares of Ryan Specialty stock opened at $41.75 on Friday. The company has a 50 day moving average price of $39.95 and a 200 day moving average price of $37.90. The firm has a market capitalization of $10.68 billion, a P/E ratio of 57.99, a PEG ratio of 0.83 and a beta of 0.59. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 3.51. Ryan Specialty Holdings Inc. has a 52 week low of $29.28 and a 52 week high of $60.34.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.14. Ryan Specialty had a net margin of 7.55% and a return on equity of 43.97%. The company had revenue of $916.65 million for the quarter, compared to the consensus estimate of $873.93 million. During the same quarter in the previous year, the firm earned $0.66 EPS. Ryan Specialty's revenue was up 7.2% compared to the same quarter last year. Sell-side analysts expect that Ryan Specialty Holdings Inc. will post 2.17 EPS for the current year.

Ryan Specialty announced that its board has approved a share buyback program on Tuesday, May 26th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to buy up to 3.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Ryan Specialty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.2%. Ryan Specialty's payout ratio is 72.22%.

Insider Activity

In other news, Director John W. Rogers, Jr. bought 7,500 shares of Ryan Specialty stock in a transaction that occurred on Wednesday, June 10th. The stock was bought at an average price of $35.16 per share, for a total transaction 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. The trade was a 6.79% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Patrick G. Ryan purchased 120,000 shares of the stock in a transaction on Friday, June 5th. The shares were purchased at an average cost of $32.50 per share, with a total value of $3,900,000.00. Following the transaction, 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 130,715 shares of company stock valued at $4,263,590 over the last ninety days. 52.03% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RYAN. Morgan Stanley raised their price target on shares of Ryan Specialty from $39.00 to $42.00 and gave the company an "overweight" rating in a report on Monday, July 6th. Keefe, Bruyette & Woods increased their target price on shares of Ryan Specialty from $48.00 to $54.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Mizuho raised their target price on shares of Ryan Specialty from $39.00 to $48.00 and gave the company a "neutral" rating in a research note on Friday, July 31st. Citigroup lifted their price target on shares of Ryan Specialty from $50.00 to $53.50 and gave the stock a "buy" rating in a report on Monday, August 3rd. Finally, Cantor Fitzgerald increased their price objective on Ryan Specialty from $34.00 to $41.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Eight research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Ryan Specialty currently has an average rating of "Hold" and a consensus target price of $53.42.

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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