Montrusco Bolton Investments Inc. Sells 320,610 Shares of Ryan Specialty Holdings Inc. $RYAN

Montrusco Bolton Investments Inc. lowered its holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 7.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,022,506 shares of the company’s stock after selling 320,610 shares during the quarter. Ryan Specialty makes up 2.0% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 22nd biggest position. Montrusco Bolton Investments Inc. owned 1.52% of Ryan Specialty worth $132,091,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Los Angeles Capital Management LLC purchased a new position in Ryan Specialty during the fourth quarter valued at approximately $25,000. Advisory Services Network LLC purchased a new stake in Ryan Specialty during the third quarter worth $28,000. SBI Securities Co. Ltd. lifted its holdings in Ryan Specialty by 6,322.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 578 shares of the company’s stock worth $30,000 after buying an additional 569 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in Ryan Specialty by 173.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock valued at $37,000 after acquiring an additional 450 shares in the last quarter. Finally, Quarry LP bought a new stake in Ryan Specialty during the 3rd quarter valued at $37,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Patrick G. Ryan bought 120,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were purchased at an average cost of $32.50 per share, with a total value of $3,900,000.00. Following the completion of the acquisition, the chairman directly owned 13,817,859 shares in the company, valued at approximately $449,080,417.50. The trade was a 0.88% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Stephen Katz purchased 3,215 shares of Ryan Specialty stock in a transaction that occurred on Wednesday, June 3rd. The shares were bought at an average price of $31.07 per share, with a total value of $99,890.05. Following the completion of the transaction, the executive vice president owned 4,332 shares of the company’s stock, valued at $134,595.24. This represents a 287.82% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 130,715 shares of company stock valued at $4,263,590. Company insiders own 52.03% of the company’s stock.

Ryan Specialty Trading Down 0.0%

Ryan Specialty stock opened at $42.02 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.90. Ryan Specialty Holdings Inc. has a 52 week low of $29.28 and a 52 week high of $67.69. The stock has a 50-day moving average price of $34.03 and a 200 day moving average price of $39.84. The company has a market capitalization of $11.08 billion, a price-to-earnings ratio of 54.57, a price-to-earnings-growth ratio of 1.01 and a beta of 0.61.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. Ryan Specialty had a net margin of 8.21% and a return on equity of 41.33%. The firm had revenue of $795.23 million for the quarter, compared to analyst estimates of $781.44 million. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 earnings per share. Sell-side analysts anticipate that Ryan Specialty Holdings Inc. will post 2.06 EPS for the current year.

Ryan Specialty announced that its board has initiated a stock buyback program on Tuesday, May 26th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Ryan Specialty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, May 12th. Ryan Specialty’s dividend payout ratio (DPR) is currently 67.53%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank Of Canada started coverage on shares of Ryan Specialty in a report on Tuesday, March 17th. They issued an “outperform” rating and a $45.00 target price for the company. Barclays lowered their price target on shares of Ryan Specialty from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Piper Sandler reduced their price objective on shares of Ryan Specialty from $43.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Morgan Stanley reduced their price target 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. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Ryan Specialty in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $47.41.

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.