Ryan Specialty (NYSE:RYAN) Shares Gap Up After Insider Buying Activity

Shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) gapped up prior to trading on Thursday after an insider bought additional shares in the company. The stock had previously closed at $30.86, but opened at $32.32. Ryan Specialty shares last traded at $32.6340, with a volume of 289,010 shares changing hands.

Specifically, EVP Mark Stephen Katz purchased 3,215 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were bought at an average cost of $31.07 per share, for a total transaction of $99,890.05. Following the transaction, the executive vice president directly owned 4,332 shares of the company’s stock, valued at approximately $134,595.24. This trade represents a 287.82% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Analysts Set New Price Targets

A number of research analysts have recently commented on RYAN shares. BMO Capital Markets lowered shares of Ryan Specialty from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $66.00 to $43.00 in a research report on Wednesday, February 25th. Morgan Stanley decreased their target price on Ryan Specialty from $45.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, May 21st. Royal Bank Of Canada assumed coverage on Ryan Specialty in a research note on Tuesday, March 17th. They set an “outperform” rating and a $45.00 price target on the stock. JPMorgan Chase & Co. cut their price target on Ryan Specialty from $49.00 to $43.00 and set an “underweight” rating for the company in a report on Thursday, April 9th. Finally, Mizuho set a $35.00 price objective on Ryan Specialty in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Ryan Specialty presently has a consensus rating of “Hold” and an average price target of $46.76.

Ryan Specialty Stock Performance

The firm has a market capitalization of $8.56 billion, a price-to-earnings ratio of 42.37, a price-to-earnings-growth ratio of 0.78 and a beta of 0.64. The firm’s 50-day moving average price is $33.57 and its two-hundred day moving average price is $42.87. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.02 and a current ratio of 1.02.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates 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%. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 earnings per share. Sell-side analysts predict that Ryan Specialty Holdings Inc. will post 2.04 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th were paid a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.52 annualized dividend and a yield of 1.6%. Ryan Specialty’s payout ratio is currently 67.53%.

Ryan Specialty announced that its Board of Directors has authorized a share repurchase plan on Tuesday, May 26th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RYAN. Beck Mack & Oliver LLC acquired a new stake in shares of Ryan Specialty during the 3rd quarter worth about $2,818,000. Westview Management dba Westview Investment Advisors bought a new stake in Ryan Specialty during the fourth quarter worth about $2,082,000. Geneva Capital Management LLC grew its stake in Ryan Specialty by 11.2% during the third quarter. Geneva Capital Management LLC now owns 535,742 shares of the company’s stock worth $30,194,000 after buying an additional 53,810 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Ryan Specialty by 149.7% during the third quarter. JPMorgan Chase & Co. now owns 421,330 shares of the company’s stock worth $23,746,000 after buying an additional 252,582 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Ryan Specialty during the fourth quarter worth approximately $20,776,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

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.