Dockside LLC Buys New Position in Ryan Specialty Holdings Inc. $RYAN

Dockside LLC bought a new stake in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 22,067 shares of the company’s stock, valued at approximately $1,139,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Beck Mack & Oliver LLC bought a new stake in shares of Ryan Specialty during the 3rd quarter valued at about $2,818,000. Westview Management dba Westview Investment Advisors bought a new stake in shares of Ryan Specialty during the 4th quarter valued at about $2,082,000. Geneva Capital Management LLC boosted its position in shares of Ryan Specialty by 11.2% during the 3rd quarter. Geneva Capital Management LLC now owns 535,742 shares of the company’s stock valued at $30,194,000 after purchasing an additional 53,810 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Ryan Specialty during the 4th quarter valued at about $20,776,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Ryan Specialty by 149.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 421,330 shares of the company’s stock valued at $23,746,000 after purchasing an additional 252,582 shares in the last quarter. Institutional investors own 84.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Cantor Fitzgerald cut their target price on Ryan Specialty from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Bank of America dropped their price target on Ryan Specialty from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. UBS Group upped their price target on Ryan Specialty from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ryan Specialty in a research note on Monday, May 4th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Ryan Specialty in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Ryan Specialty has a consensus rating of “Hold” and an average price target of $47.12.

Ryan Specialty Stock Performance

RYAN stock opened at $35.64 on Monday. The firm has a market cap of $9.40 billion, a PE ratio of 46.28, a P/E/G ratio of 0.86 and a beta of 0.64. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.90. The business has a 50 day moving average of $33.63 and a 200-day moving average of $41.72. Ryan Specialty Holdings Inc. has a 12-month low of $29.28 and a 12-month high of $69.49.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Thursday, April 30th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.04. The company had revenue of $795.23 million during the quarter, compared to analyst estimates of $781.44 million. Ryan Specialty had a return on equity of 41.33% and a net margin of 8.21%.Ryan Specialty’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 earnings per share. As a group, sell-side analysts expect that Ryan Specialty Holdings Inc. will post 2.05 earnings per share for the current year.

Ryan Specialty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th were issued a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.52 annualized dividend and a dividend yield of 1.5%. Ryan Specialty’s dividend payout ratio is currently 67.53%.

Ryan Specialty declared that its board has initiated a stock repurchase plan on Tuesday, May 26th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other Ryan Specialty news, EVP Mark Stephen Katz bought 3,215 shares of Ryan Specialty stock in a transaction dated Wednesday, June 3rd. The stock was bought at an average cost of $31.07 per share, with a total value of $99,890.05. Following the completion of the acquisition, the executive vice president directly owned 4,332 shares in the company, valued at approximately $134,595.24. The trade was a 287.82% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John W. Rogers, Jr. bought 7,500 shares of Ryan Specialty stock in a transaction dated Wednesday, June 10th. The stock was acquired at an average cost of $35.16 per share, with a total value of $263,700.00. Following the completion of the acquisition, the director owned 117,933 shares of the company’s stock, valued at $4,146,524.28. This represents a 6.79% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 130,715 shares of company stock valued at $4,263,590 over the last three months. Corporate insiders own 52.03% of the company’s stock.

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.