Insider Buying: Ryan Specialty (NYSE:RYAN) Chairman Acquires 120,000 Shares of Stock

Key Points

• Ryan Specialty Chairman Patrick Ryan bought 120,000 shares on June 5 at an average price of $32.50 each, a transaction worth $3.9 million. After the purchase, he held 13.82 million shares, increasing his stake by 0.88%.
• The company recently reported better-than-expected quarterly results, with EPS of $0.47 versus $0.43 expected and revenue of $795.23 million versus $781.44 million forecast. Revenue rose 15.2% year over year.
• Ryan Specialty also announced a $300 million share repurchase program and a quarterly dividend of $0.13 per share, for an annualized yield of 1.6%. Analysts currently have a consensus rating of Hold on the stock.

Ryan Specialty Holdings Inc. (NYSE:RYAN - Get Free Report) Chairman Patrick Ryan bought 120,000 shares of the stock in a transaction dated Friday, June 5th. The stock was acquired at an average price of $32.50 per share, with a total value of $3,900,000.00. Following the completion of the purchase, the chairman owned 13,817,859 shares of the company's stock, valued at $449,080,417.50. This represents a 0.88% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Ryan Specialty Trading Up 0.0%

RYAN opened at $32.57 on Monday. Ryan Specialty Holdings Inc. has a 1-year low of $29.28 and a 1-year high of $70.08. The firm has a 50-day moving average price of $33.52 and a two-hundred day moving average price of $42.53. The stock has a market capitalization of $8.59 billion, a PE ratio of 42.30, a PEG ratio of 0.78 and a beta of 0.64. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.90.

Ryan Specialty (NYSE:RYAN - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.04. The firm had revenue of $795.23 million during the quarter, compared to analysts' expectations of $781.44 million. Ryan Specialty had a net margin of 8.21% and a return on equity of 41.33%. Ryan Specialty's revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.39 EPS. As a group, equities analysts anticipate that Ryan Specialty Holdings Inc. will post 2.05 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

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

Ryan Specialty announced that its Board of Directors has approved a share repurchase program on Tuesday, May 26th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

RYAN has been the subject of several analyst reports. Weiss Ratings restated a "sell (d+)" rating on shares of Ryan Specialty in a research report on Monday, May 4th. Keefe, Bruyette & Woods restated an "outperform" rating on shares of Ryan Specialty in a report on Tuesday, May 26th. Zacks Research lowered shares of Ryan Specialty from a "hold" rating to a "strong sell" rating in a report on Tuesday, February 24th. Barclays reduced their price target on shares of Ryan Specialty from $41.00 to $39.00 and set an "overweight" rating on the stock in a research report on Friday, May 1st. Finally, Morgan Stanley dropped their price objective on Ryan Specialty from $45.00 to $39.00 and set an "overweight" rating on the stock in a research note on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Ryan Specialty currently has a consensus rating of "Hold" and an average price target of $46.35.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. grew its holdings in shares of Ryan Specialty by 0.9% in the 3rd quarter. Ameritas Investment Partners Inc. now owns 21,119 shares of the company's stock valued at $1,190,000 after acquiring an additional 185 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Ryan Specialty by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 32,797 shares of the company's stock valued at $1,848,000 after purchasing an additional 203 shares during the last quarter. Covestor Ltd boosted its position in Ryan Specialty by 16.8% during the fourth quarter. Covestor Ltd now owns 1,467 shares of the company's stock valued at $76,000 after purchasing an additional 211 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in Ryan Specialty by 1.0% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 25,355 shares of the company's stock valued at $1,309,000 after purchasing an additional 240 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec grew its stake in Ryan Specialty by 7.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 3,313 shares of the company's stock valued at $171,000 after purchasing an additional 240 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company's stock.

Ryan Specialty Company 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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