Confluence Investment Management LLC Acquires New Holdings in Ryan Specialty Holdings Inc. $RYAN

Confluence Investment Management LLC bought a new position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) in the second quarter, HoldingsChannel reports. The firm bought 189,001 shares of the company’s stock, valued at approximately $7,137,000.

Several other hedge funds have also recently bought and sold shares of RYAN. Public Employees Retirement System of Ohio lifted its stake in Ryan Specialty by 0.6% in 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 buying an additional 203 shares in the last quarter. Covestor Ltd increased its position in shares of Ryan Specialty by 16.8% during the fourth quarter. Covestor Ltd now owns 1,467 shares of the company’s stock worth $76,000 after acquiring an additional 211 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its holdings in shares of Ryan Specialty by 1.0% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 25,355 shares of the company’s stock worth $1,309,000 after acquiring an additional 240 shares during the period. Federation des caisses Desjardins du Quebec raised its holdings in shares of Ryan Specialty by 7.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 3,313 shares of the company’s stock worth $171,000 after acquiring an additional 240 shares during the period. Finally, Snowden Capital Advisors LLC lifted its position in Ryan Specialty by 1.3% in the 2nd quarter. Snowden Capital Advisors LLC now owns 21,135 shares of the company’s stock valued at $1,437,000 after acquiring an additional 264 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RYAN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Ryan Specialty from $39.00 to $45.00 and gave the stock an “underweight” rating in a research note on Monday. Wolfe Research lowered Ryan Specialty from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ryan Specialty in a research report on Friday. Mizuho increased their price objective on Ryan Specialty from $39.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Royal Bank Of Canada lifted their target price on Ryan Specialty from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday. Eight equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $53.42.

Ryan Specialty Stock Performance

Shares of RYAN opened at $44.62 on Wednesday. The stock has a market capitalization of $11.76 billion, a price-to-earnings ratio of 61.97, a PEG ratio of 0.88 and a beta of 0.59. Ryan Specialty Holdings Inc. has a 12 month low of $29.28 and a 12 month high of $61.05. The firm has a fifty day simple moving average of $38.20 and a 200 day simple moving average of $38.25. The company has a current ratio of 1.00, a quick ratio of 1.02 and a debt-to-equity ratio of 3.51.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.14. Ryan Specialty had a net margin of 7.55% and a return on equity of 43.97%. The firm had revenue of $916.65 million for the quarter, compared to analyst estimates of $873.93 million. During the same period in the previous year, the business earned $0.66 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. Research analysts forecast that Ryan Specialty Holdings Inc. will post 2.14 EPS for the current fiscal year.

Ryan Specialty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be issued a $0.13 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $0.52 annualized dividend and a dividend yield of 1.2%. Ryan Specialty’s dividend payout ratio (DPR) is presently 72.22%.

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

Insider Activity at Ryan Specialty

In related news, Chairman Patrick G. Ryan bought 120,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average price of $32.50 per share, with a total value of $3,900,000.00. Following the completion of the transaction, the chairman owned 13,817,859 shares in the company, valued at $449,080,417.50. The trade was a 0.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Stephen Katz bought 3,215 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were bought at an average price of $31.07 per share, for a total transaction of $99,890.05. Following the acquisition, the executive vice president directly 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. Over the last quarter, insiders have purchased 130,715 shares of company stock valued at $4,263,590. 52.03% of the stock is owned by insiders.

Ryan Specialty 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.