Sumitomo Mitsui Trust Group Inc. Cuts Stock Position in Ryan Specialty Holdings Inc. $RYAN

Key Points

• Sumitomo Mitsui Trust Group trimmed its Ryan Specialty stake by 8.1% in the first quarter, selling 112,887 shares and leaving it with about 1.28 million shares valued at $43.1 million.
• Insider buying was notable, with Director John W. Rogers Jr. and EVP Mark Stephen Katz both purchasing shares recently; the company says insiders own 52.03% of the stock.
• Analyst sentiment is mixed: several firms raised price targets, but Wolfe Research downgraded the stock to Peer Perform, and MarketBeat’s aggregate view remains “Hold” with an average target price of $48.59.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 8.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,277,042 shares of the company's stock after selling 112,887 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.48% of Ryan Specialty worth $43,087,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its stake in Ryan Specialty by 3.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,417 shares of the company's stock worth $790,000 after buying an additional 800 shares during the period. KERR FINANCIAL PLANNING Corp grew its stake in shares of Ryan Specialty by 83.7% in the first quarter. KERR FINANCIAL PLANNING Corp now owns 2,203 shares of the company's stock worth $77,000 after acquiring an additional 1,004 shares in the last quarter. Stephens Inc. AR grew its stake in shares of Ryan Specialty by 15.0% in the first quarter. Stephens Inc. AR now owns 20,592 shares of the company's stock worth $695,000 after acquiring an additional 2,680 shares in the last quarter. Stephens Investment Management Group LLC increased its position in shares of Ryan Specialty by 25.7% during the first quarter. Stephens Investment Management Group LLC now owns 2,424,337 shares of the company's stock worth $81,797,000 after acquiring an additional 495,243 shares during the period. Finally, HB Wealth Management LLC raised its stake in shares of Ryan Specialty by 1.7% in the first quarter. HB Wealth Management LLC now owns 54,797 shares of the company's stock valued at $1,849,000 after acquiring an additional 913 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company's stock.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. acquired 7,500 shares of the firm's stock in a transaction dated Wednesday, June 10th. The stock was acquired at an average cost of $35.16 per share, with a total value of $263,700.00. Following the completion of the acquisition, the director owned 117,933 shares of the company's stock, valued at $4,146,524.28. The trade was a 6.79% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Stephen Katz bought 3,215 shares of the 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 transaction, the executive vice president owned 4,332 shares of the company's stock, valued at approximately $134,595.24. The trade was a 287.82% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 130,715 shares of company stock worth $4,263,590 in the last quarter. 52.03% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on RYAN. Zacks Research upgraded Ryan Specialty from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 30th. Morgan Stanley upped their price target on Ryan Specialty from $39.00 to $42.00 and gave the stock an "overweight" rating in a report on Monday, July 6th. Keefe, Bruyette & Woods increased their price target on Ryan Specialty from $44.00 to $48.00 and gave the company an "outperform" rating in a research report on Wednesday, July 8th. Cantor Fitzgerald lifted their price objective on Ryan Specialty from $33.00 to $34.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, Bank of America lowered their price objective on Ryan Specialty from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. Eight investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Ryan Specialty currently has an average rating of "Hold" and an average target price of $48.59.

Key Ryan Specialty News

Here are the key news stories impacting Ryan Specialty this week:

• Neutral Sentiment: Wells Fargo raised its price target on Ryan Specialty to $39 from $31 and kept an equal-weight rating, signaling more confidence in the business but not a bullish call. Ryan Specialty NYSE: RYAN Price Target Raised to $39.00 at Wells Fargo & Company
• Neutral Sentiment: Mizuho also lifted its price target to $39 from $35 while maintaining a neutral rating, which supports valuation but does not point to significant upside from here. Ryan Specialty NYSE: RYAN Given New $39.00 Price Target at Mizuho
• Negative Sentiment: Wolfe Research downgraded Ryan Specialty to Peer Perform from Outperform, a move that can weigh on sentiment by suggesting the stock’s recent run may have already priced in much of the good news. Ryan Specialty NYSE: RYAN Downgraded by Wolfe Research to "Peer Perform"
• Neutral Sentiment: Separately, a market commentary piece noted Ryan Specialty looks expensive on price but attractive on earnings quality, reinforcing a mixed investor view rather than a clear catalyst. Ryan Specialty (RYAN) Stock Looks Weak On Price But Rich On Earnings

Ryan Specialty Price Performance

Shares of NYSE:RYAN opened at $40.40 on Monday. Ryan Specialty Holdings Inc. has a 12 month low of $29.28 and a 12 month high of $67.69. The firm has a market capitalization of $10.65 billion, a P/E ratio of 52.46, a P/E/G ratio of 0.97 and a beta of 0.61. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.02 and a quick ratio of 1.02. The company's fifty day moving average price is $34.64 and its 200 day moving average price is $39.31.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $781.44 million. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Ryan Specialty's revenue for the quarter was up 15.2% on a year-over-year basis. As a group, sell-side analysts predict that Ryan Specialty Holdings Inc. will post 2.05 earnings per share for the current fiscal year.

Ryan Specialty announced that its Board of Directors has approved a share repurchase plan on Tuesday, May 26th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

Ryan Specialty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th were given 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 1.3%. Ryan Specialty's dividend payout ratio is 67.53%.

About Ryan Specialty

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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