Patrick G. Ryan Buys 276,634 Shares of Ryan Specialty (NYSE:RYAN) Stock

Key Points

• Patrick Ryan, Chairman of Ryan Specialty Holdings, purchased 276,634 shares at an average price of $51.84, totaling approximately $14.34 million, increasing his ownership stake by 2.06%.
• Following the share acquisition, Ryan Specialty's stock rose by 1.5%, trading at $52.42, with recent trading volumes significantly below the average.
• The company reported earnings of $0.66 per share for the last quarter, matching analysts' estimates, while showing a 23% year-over-year revenue growth to approximately $855 million.

Ryan Specialty Holdings Inc. (NYSE:RYAN - Get Free Report) Chairman Patrick G. Ryan purchased 276,634 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was bought at an average price of $51.84 per share, with a total value of $14,340,706.56. Following the completion of the purchase, the chairman owned 13,699,959 shares of the company's stock, valued at $710,205,874.56. This trade represents a 2.06% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Ryan Specialty Price Performance

Shares of RYAN stock traded up $0.33 during trading on Friday, hitting $53.45. The company had a trading volume of 5,257,756 shares, compared to its average volume of 1,153,522. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $14.09 billion, a P/E ratio of 152.72, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63. The stock's 50-day moving average price is $58.91 and its 200 day moving average price is $65.62. Ryan Specialty Holdings Inc. has a one year low of $50.08 and a one year high of $77.16.

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

Ryan Specialty Dividend Announcement

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

Hedge Funds Weigh In On Ryan Specialty

Large investors have recently bought and sold shares of the company. Montrusco Bolton Investments Inc. bought a new position in shares of Ryan Specialty during the second quarter valued at $213,852,000. Norges Bank bought a new stake in shares of Ryan Specialty in the 2nd quarter valued at $88,305,000. Principal Financial Group Inc. increased its stake in shares of Ryan Specialty by 66.4% in the 1st quarter. Principal Financial Group Inc. now owns 3,051,356 shares of the company's stock valued at $225,404,000 after acquiring an additional 1,218,147 shares in the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of Ryan Specialty in the 2nd quarter valued at $64,961,000. Finally, Invesco Ltd. increased its stake in shares of Ryan Specialty by 121.6% in the 1st quarter. Invesco Ltd. now owns 1,590,862 shares of the company's stock valued at $117,517,000 after acquiring an additional 872,846 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RYAN has been the subject of a number of recent analyst reports. Wells Fargo & Company raised shares of Ryan Specialty from an "equal weight" rating to an "overweight" rating and set a $60.00 price target for the company in a report on Wednesday. Cantor Fitzgerald upgraded Ryan Specialty to a "hold" rating in a research note on Wednesday, August 13th. UBS Group dropped their price objective on Ryan Specialty from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, August 4th. Morgan Stanley dropped their price objective on Ryan Specialty from $71.00 to $68.00 and set an "overweight" rating for the company in a research report on Monday, August 18th. Finally, Wall Street Zen raised shares of Ryan Specialty from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $74.00.

Ryan Specialty Company Profile

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.