Peregrine Capital Management LLC Buys 26,897 Shares of Ryan Specialty Holdings Inc. $RYAN

Peregrine Capital Management LLC grew its position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 16.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 186,398 shares of the company’s stock after purchasing an additional 26,897 shares during the period. Peregrine Capital Management LLC’s holdings in Ryan Specialty were worth $6,289,000 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 in the 4th quarter worth about $25,000. Advisory Services Network LLC bought a new stake in Ryan Specialty during the 3rd quarter valued at approximately $28,000. SBI Securities Co. Ltd. lifted its stake in Ryan Specialty by 6,322.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 578 shares of the company’s stock worth $30,000 after purchasing an additional 569 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings 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 buying an additional 450 shares in the last quarter. Finally, Quarry LP bought a new position in Ryan Specialty during the third quarter valued at $37,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on RYAN. Royal Bank Of Canada initiated coverage on Ryan Specialty in a report on Tuesday, March 17th. They issued an “outperform” rating and a $45.00 target price for the company. Cantor Fitzgerald reduced their price objective on shares of Ryan Specialty from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Citigroup decreased their price objective on shares of Ryan Specialty from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, May 4th. The Goldman Sachs Group boosted their target price on Ryan Specialty from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ryan Specialty in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Ryan Specialty currently has an average rating of “Hold” and an average target price of $47.41.

Insider Activity

In other Ryan Specialty news, Chairman Patrick G. Ryan bought 120,000 shares of the business’s stock in a transaction 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 transaction, the chairman owned 13,817,859 shares of the company’s stock, valued at approximately $449,080,417.50. This trade represents a 0.88% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Stephen Katz acquired 3,215 shares of the firm’s 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 purchase, the executive vice president directly owned 4,332 shares in the company, valued at $134,595.24. The trade was a 287.82% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 130,715 shares of company stock valued at $4,263,590. Corporate insiders own 52.03% of the company’s stock.

Ryan Specialty Stock Up 6.0%

Shares of RYAN opened at $40.02 on Thursday. The firm has a fifty day moving average price of $33.84 and a 200-day moving average price of $39.91. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.90. The firm has a market capitalization of $10.55 billion, a P/E ratio of 51.98, a P/E/G ratio of 0.91 and a beta of 0.61. Ryan Specialty Holdings Inc. has a 12-month low of $29.28 and a 12-month high of $67.69.

Ryan Specialty (NYSE:RYAN) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.43 by $0.04. Ryan Specialty had a net margin of 8.21% and a return on equity of 41.33%. The company had revenue of $795.23 million for the quarter, compared to the consensus estimate of $781.44 million. During the same quarter last year, the firm posted $0.39 EPS. The firm’s revenue was up 15.2% compared to the same quarter last year. Equities research analysts expect that Ryan Specialty Holdings Inc. will post 2.06 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. Stockholders of record on Tuesday, May 12th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, May 12th. Ryan Specialty’s payout ratio is currently 67.53%.

Ryan Specialty declared that its Board of Directors has approved a stock buyback plan on Tuesday, May 26th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Ryan Specialty Company 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.