Ryan Specialty Holdings Inc. $RYAN Shares Sold by California Public Employees Retirement System

Key Points

• CalPERS cut its Ryan Specialty stake by 13.9% in the first quarter, selling 31,956 shares and retaining 198,221 shares worth approximately $6.7 million. Institutional investors collectively own 84.82% of the company.
• Ryan Specialty reported quarterly EPS of $0.47, beating estimates by $0.04, while revenue rose 15.2% year over year to $795.23 million. The company also authorized a $300 million share-repurchase program and maintains a $0.13 quarterly dividend.
• Insiders purchased 130,715 shares worth $4.26 million over the past 90 days. Analysts have a consensus rating of Hold with an average price target of $50, compared with the stock’s reported opening price of $41.77.

California Public Employees Retirement System reduced its stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 13.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 198,221 shares of the company's stock after selling 31,956 shares during the quarter. California Public Employees Retirement System owned about 0.08% of Ryan Specialty worth $6,688,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Los Angeles Capital Management LLC acquired a new position in Ryan Specialty during the 4th quarter valued at about $25,000. Advisory Services Network LLC acquired a new stake in shares of Ryan Specialty in the 3rd quarter worth approximately $28,000. SBI Securities Co. Ltd. lifted its stake in shares of Ryan Specialty by 6,322.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 578 shares of the company's stock worth $30,000 after acquiring an additional 569 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Ryan Specialty by 173.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company's stock valued at $37,000 after acquiring an additional 450 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Ryan Specialty in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 84.82% of the company's stock.

Insider Transactions at Ryan Specialty

In other news, EVP Mark Stephen Katz purchased 3,215 shares of the business's stock in a transaction dated Wednesday, June 3rd. The shares were acquired at an average price of $31.07 per share, for a total transaction of $99,890.05. Following the completion of the acquisition, the executive vice president directly owned 4,332 shares of the company's stock, valued at $134,595.24. The trade was a 287.82% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John W. Rogers, Jr. acquired 7,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The stock was purchased at an average cost of $35.16 per share, with a total value of $263,700.00. Following the purchase, the director directly owned 117,933 shares in the company, valued at approximately $4,146,524.28. This trade represents a 6.79% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 130,715 shares of company stock valued at $4,263,590 over the last ninety days. Corporate insiders own 52.03% of the company's stock.

Ryan Specialty Stock Performance

Shares of NYSE RYAN opened at $41.77 on Monday. The stock's fifty day simple moving average is $36.59 and its 200 day simple moving average is $38.56. The stock has a market capitalization of $11.01 billion, a price-to-earnings ratio of 54.25, a PEG ratio of 0.91 and a beta of 0.61. 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 $66.27.

Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.43 by $0.04. The business had revenue of $795.23 million during the quarter, compared to the consensus estimate of $781.44 million. Ryan Specialty had a return on equity of 41.33% and a net margin of 8.21%.Ryan Specialty's revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 earnings per share. As a group, sell-side analysts forecast that Ryan Specialty Holdings Inc. will post 2.06 earnings per share for the current fiscal year.

Ryan Specialty declared that its Board of Directors has authorized a share repurchase plan on Tuesday, May 26th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to buy up to 3.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

Ryan Specialty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Tuesday, May 12th. Ryan Specialty's dividend payout ratio (DPR) is presently 67.53%.

Analyst Upgrades and Downgrades

RYAN has been the topic of a number of research analyst reports. Cantor Fitzgerald raised their price objective on shares of Ryan Specialty from $33.00 to $34.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. UBS Group decreased their price target on Ryan Specialty from $52.00 to $50.00 and set a "buy" rating for the company in a research note on Wednesday, July 8th. Morgan Stanley lifted their price target on Ryan Specialty from $39.00 to $42.00 and gave the company an "overweight" rating in a research report on Monday, July 6th. JPMorgan Chase & Co. boosted their price objective on Ryan Specialty from $37.00 to $39.00 and gave the stock an "underweight" rating in a research note on Monday, July 13th. Finally, Citigroup cut their price objective on Ryan Specialty from $55.00 to $50.00 and set a "buy" rating for the company in a report on Monday, May 4th. Eight research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Ryan Specialty currently has an average rating of "Hold" and an average target price of $50.00.

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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