Ryan Specialty Holdings Inc. $RYAN Shares Sold by Westfield Capital Management Co. LP

Key Points

• Westfield Capital Management cut its Ryan Specialty stake by 36.3% in the fourth quarter, selling 463,800 shares and ending with 814,334 shares valued at about $42.0 million.
• Insider buying was reported as EVP Mark Stephen Katz purchased 3,215 shares at $31.07 each, increasing his position by 287.82%.
• Ryan Specialty reported solid quarterly results, with EPS of $0.47 beating estimates and revenue of $795.23 million, while also authorizing a $300 million share repurchase program and paying a quarterly dividend of $0.13 per share.

Westfield Capital Management Co. LP decreased its stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 36.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 814,334 shares of the company's stock after selling 463,800 shares during the period. Westfield Capital Management Co. LP owned about 0.31% of Ryan Specialty worth $42,044,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of RYAN. Vulcan Value Partners LLC raised its holdings in shares of Ryan Specialty by 631.7% during the fourth quarter. Vulcan Value Partners LLC now owns 4,621,079 shares of the company's stock valued at $238,536,000 after buying an additional 3,989,502 shares during the last quarter. Montrusco Bolton Investments Inc. raised its holdings in Ryan Specialty by 9.3% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 4,343,116 shares of the company's stock worth $218,010,000 after purchasing an additional 368,247 shares in the last quarter. Champlain Investment Partners LLC raised its holdings in Ryan Specialty by 76.9% during the third quarter. Champlain Investment Partners LLC now owns 3,066,011 shares of the company's stock worth $172,800,000 after purchasing an additional 1,332,773 shares in the last quarter. Geode Capital Management LLC raised its holdings in Ryan Specialty by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 2,151,206 shares of the company's stock worth $111,089,000 after purchasing an additional 60,847 shares in the last quarter. Finally, Viking Global Investors LP raised its holdings in Ryan Specialty by 37.0% during the third quarter. Viking Global Investors LP now owns 1,934,957 shares of the company's stock worth $109,054,000 after purchasing an additional 522,190 shares in the last quarter. Institutional investors own 84.82% of the company's stock.

Insider Buying and Selling at Ryan Specialty

In related news, EVP Mark Stephen Katz purchased 3,215 shares of the company's stock in a transaction dated Wednesday, June 3rd. The shares were acquired at an average cost of $31.07 per share, with a total value of $99,890.05. Following the completion of the purchase, the executive vice president owned 4,332 shares of the company's stock, valued at $134,595.24. The trade was a 287.82% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 52.03% of the company's stock.

Ryan Specialty Price Performance

Shares of NYSE:RYAN opened at $32.57 on Friday. The company's fifty day moving average is $33.52 and its two-hundred day moving average is $42.63. 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 12-month low of $29.28 and a 12-month high of $70.08. The company has a market cap of $8.59 billion, a P/E ratio of 42.30, a price-to-earnings-growth ratio of 0.77 and a beta of 0.64.

Ryan Specialty (NYSE:RYAN - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.47 earnings per share (EPS) for the quarter, beating 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 company had revenue of $795.23 million for the quarter, compared to the consensus estimate of $781.44 million. During the same period in the previous year, the business earned $0.39 EPS. The company's revenue was up 15.2% on a year-over-year basis. Equities analysts expect that Ryan Specialty Holdings Inc. will post 2.05 earnings per share for the current fiscal year.

Ryan Specialty declared that its board has authorized a share buyback program on Tuesday, May 26th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Ryan Specialty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th were paid a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.6%. Ryan Specialty's dividend payout ratio is 67.53%.

Analyst Ratings Changes

RYAN has been the topic of several research analyst reports. Weiss Ratings reiterated a "sell (d+)" rating on shares of Ryan Specialty in a research report on Monday, May 4th. BMO Capital Markets cut Ryan Specialty from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $66.00 to $43.00 in a research report on Wednesday, February 25th. Bank of America lowered their price target on Ryan Specialty from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Tuesday, April 14th. Citigroup lowered their price target on Ryan Specialty from $55.00 to $50.00 and set a "buy" rating on the stock in a research report on Monday, May 4th. Finally, Cantor Fitzgerald dropped their price target on Ryan Specialty from $45.00 to $40.00 and set a "neutral" rating on the stock in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $46.76.

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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