Sumitomo Mitsui Trust Group Inc. Increases Stake in Ryan Specialty Holdings Inc. $RYAN

Key Points

• Sumitomo Mitsui Trust Group Inc. increased its stake in Ryan Specialty Holdings Inc. by 9.7% during Q2, holding 1,353,520 shares valued at approximately $92 million.
• Ryan Specialty recently reported earnings of $0.66 per share, matching analyst estimates, with a year-over-year revenue increase of 23% to $855.17 million.
• The company announced a quarterly dividend of $0.12 per share, resulting in an annualized dividend yield of 0.9%, with a payout ratio of 137.14%.

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN - Free Report) by 9.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,353,520 shares of the company's stock after buying an additional 120,214 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.52% of Ryan Specialty worth $92,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Crossmark Global Holdings Inc. increased its holdings in Ryan Specialty by 2.9% in the 1st quarter. Crossmark Global Holdings Inc. now owns 7,351 shares of the company's stock valued at $543,000 after acquiring an additional 207 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Ryan Specialty by 281.6% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company's stock valued at $25,000 after purchasing an additional 245 shares in the last quarter. Wallace Advisory Group LLC increased its holdings in shares of Ryan Specialty by 5.8% in the second quarter. Wallace Advisory Group LLC now owns 4,837 shares of the company's stock worth $357,000 after purchasing an additional 267 shares during the last quarter. State of Michigan Retirement System increased its holdings in shares of Ryan Specialty by 1.2% in the first quarter. State of Michigan Retirement System now owns 25,500 shares of the company's stock worth $1,884,000 after purchasing an additional 300 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in shares of Ryan Specialty by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 29,800 shares of the company's stock worth $2,201,000 after buying an additional 300 shares in the last quarter. Institutional investors own 84.82% of the company's stock.

Ryan Specialty Stock Up 0.1%

NYSE RYAN opened at $53.19 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.88. Ryan Specialty Holdings Inc. has a 52 week low of $50.08 and a 52 week high of $77.16. The firm has a market capitalization of $14.03 billion, a price-to-earnings ratio of 151.98, a PEG ratio of 1.46 and a beta of 0.63. The company has a fifty day moving average of $55.20 and a two-hundred day moving average of $62.70.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.66 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.66. Ryan Specialty had a net margin of 6.81% and a return on equity of 48.70%. The firm had revenue of $855.17 million during the quarter, compared to analyst estimates of $837.52 million. During the same quarter last year, the business earned $0.58 EPS. The business's revenue was up 23.0% on a year-over-year basis. On average, analysts predict that Ryan Specialty Holdings Inc. will post 2.29 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, August 12th. Ryan Specialty's payout ratio is 137.14%.

Analysts Set New Price Targets

Several research firms have weighed in on RYAN. Cantor Fitzgerald upgraded Ryan Specialty to a "hold" rating in a report on Wednesday, August 13th. Weiss Ratings reissued a "hold (c-)" rating on shares of Ryan Specialty in a report on Saturday. Wall Street Zen raised shares of Ryan Specialty from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Wells Fargo & Company increased their price objective on shares of Ryan Specialty from $60.00 to $64.00 and gave the company an "overweight" rating in a research report on Wednesday, October 8th. Finally, Citigroup assumed coverage on shares of Ryan Specialty in a report on Wednesday, August 13th. They issued a "buy" rating and a $74.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Ryan Specialty presently has an average rating of "Moderate Buy" and a consensus price target of $71.08.

Insider Activity

In related news, Chairman Patrick G. Ryan purchased 276,634 shares of the business's stock in a transaction dated Friday, September 12th. The shares were purchased at an average cost of $51.84 per share, for a total transaction of $14,340,706.56. Following the completion of the acquisition, the chairman owned 13,699,959 shares in the company, valued at approximately $710,205,874.56. This trade represents a 2.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 52.21% of the company's stock.

About Ryan Specialty

Ryan Specialty Holdings, Inc operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers in the United States, Canada, the United Kingdom, Europe, and Singapore. It offers distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter.

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