Ryan Specialty Holdings Inc. $RYAN is Vulcan Value Partners LLC's 3rd Largest Position

Key Points

• Vulcan Value Partners increased its Ryan Specialty stake by 20% in the second quarter to 7.91 million shares, making RYAN its third-largest holding and representing 9.1% of Vulcan’s portfolio.
• Institutional investors own 84.82% of Ryan Specialty, while several major funds—including California State Teachers’ Retirement System and T. Rowe Price—also expanded their positions.
• Ryan Specialty exceeded quarterly earnings and revenue expectations, while analysts maintain a consensus “Hold” rating with an average price target of $53.86; the company also authorized a $300 million share-repurchase program.

Vulcan Value Partners LLC boosted its stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 20.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,912,669 shares of the company's stock after purchasing an additional 1,317,334 shares during the quarter. Ryan Specialty comprises 9.1% of Vulcan Value Partners LLC's holdings, making the stock its 3rd largest holding. Vulcan Value Partners LLC owned 3.09% of Ryan Specialty worth $298,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its holdings in Ryan Specialty by 3,567.5% in the second quarter. California State Teachers Retirement System now owns 4,817,496 shares of the company's stock worth $181,909,000 after purchasing an additional 4,686,140 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Ryan Specialty by 79.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,552,002 shares of the company's stock valued at $389,910,000 after buying an additional 3,353,926 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in shares of Ryan Specialty by 1,510.0% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,610,000 shares of the company's stock worth $83,124,000 after buying an additional 1,510,000 shares during the last quarter. Norges Bank purchased a new position in shares of Ryan Specialty in the 4th quarter worth approximately $60,546,000. Finally, Focus Partners Wealth bought a new position in shares of Ryan Specialty during the 4th quarter worth approximately $43,506,000. Hedge funds and other institutional investors own 84.82% of the company's stock.

Insider Activity

In other news, Director John 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. 52.03% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Mizuho increased their target price on shares of Ryan Specialty from $39.00 to $48.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. Wolfe Research lowered shares of Ryan Specialty from an "outperform" rating to a "peer perform" rating in a report on Thursday, July 9th. Morgan Stanley upped their price target on Ryan Specialty from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 19th. Wells Fargo & Company increased their price objective on Ryan Specialty from $39.00 to $43.00 and gave the company an "equal weight" rating in a report on Monday, August 3rd. Finally, Royal Bank Of Canada raised their price objective on Ryan Specialty from $45.00 to $55.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Eight equities research 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $53.86.

Ryan Specialty Stock Performance

Shares of Ryan Specialty stock traded down $1.09 during midday trading on Tuesday, hitting $40.82. The company had a trading volume of 1,858,923 shares, compared to its average volume of 2,220,820. The company has a fifty day simple moving average of $42.36 and a 200 day simple moving average of $37.56. The stock has a market cap of $10.44 billion, a price-to-earnings ratio of 56.70, a PEG ratio of 0.83 and a beta of 0.57. 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 12-month low of $29.28 and a 12-month high of $59.19.

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. The company had revenue of $916.65 million for the quarter, compared to the consensus estimate of $873.93 million. Ryan Specialty had a net margin of 7.55% and a return on equity of 43.97%. Ryan Specialty's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 EPS. As a group, analysts predict that Ryan Specialty Holdings Inc. will post 2.18 earnings per share for the current fiscal year.

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

Ryan Specialty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th were issued 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 payout ratio is 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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