Insider Buying: Ryan Specialty (NYSE:RYAN) Chairman Purchases 276,634 Shares of 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 Ryan bought 276,634 shares of the company's stock in a transaction that occurred on Friday, September 12th. The shares were bought at an average price of $51.84 per share, for a total transaction of $14,340,706.56. Following the acquisition, the chairman directly owned 13,699,959 shares of the company's stock, valued at $710,205,874.56. This represents a 2.06% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Ryan Specialty Stock Up 1.5%

RYAN traded up $0.80 on Monday, hitting $52.42. 422,056 shares of the company were exchanged, compared to its average volume of 1,095,876. Ryan Specialty Holdings Inc. has a 12 month low of $50.08 and a 12 month high of $77.16. The company has a market cap of $13.82 billion, a PE ratio of 149.78, a PEG ratio of 1.44 and a beta of 0.64. 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 stock's fifty day moving average is $59.96 and its 200-day moving average is $66.04.

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 return on equity of 48.70% and a net margin of 6.81%.The business had revenue of $855.17 million for the quarter, compared to analyst estimates of $837.52 million. During the same quarter in the prior year, the company posted $0.58 earnings per share. Ryan Specialty's revenue was up 23.0% on a year-over-year basis. Equities research analysts predict that Ryan Specialty Holdings Inc. will post 2.29 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were paid a $0.12 dividend. The ex-dividend date 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%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Citigroup assumed coverage on Ryan Specialty in a research note on Wednesday, August 13th. They issued a "buy" rating and a $74.00 price objective on the stock. Barclays dropped their price objective on Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating on the stock in a research note on Monday, July 7th. Wall Street Zen upgraded Ryan Specialty from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Morgan Stanley dropped their price objective on Ryan Specialty from $71.00 to $68.00 and set an "overweight" rating on the stock in a research note on Monday, August 18th. Finally, Wells Fargo & Company dropped their price objective on Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $74.83.

Hedge Funds Weigh In On Ryan Specialty

Several institutional investors and hedge funds have recently made changes to their positions in RYAN. Whittier Trust Co. of Nevada Inc. grew its position in Ryan Specialty by 281.6% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company's stock worth $25,000 after buying an additional 245 shares in the last quarter. SVB Wealth LLC acquired a new stake in Ryan Specialty during the first quarter worth approximately $26,000. Golden State Wealth Management LLC grew its position in Ryan Specialty by 10,975.0% during the second quarter. Golden State Wealth Management LLC now owns 443 shares of the company's stock worth $30,000 after buying an additional 439 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in Ryan Specialty during the second quarter worth approximately $31,000. Finally, WPG Advisers LLC acquired a new stake in Ryan Specialty during the first quarter worth approximately $32,000. Institutional investors and hedge funds own 84.82% of the company's stock.

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.

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