Geode Capital Management LLC Grows Position in Ryan Specialty Holdings Inc. $RYAN

Geode Capital Management LLC raised its position in shares of Ryan Specialty Holdings Inc. (NYSE:RYAN) by 2.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,151,206 shares of the company’s stock after purchasing an additional 60,847 shares during the period. Geode Capital Management LLC’s holdings in Ryan Specialty were worth $111,089,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RYAN. Independent Franchise Partners LLP purchased a new position in Ryan Specialty during the third quarter valued at $95,798,000. Champlain Investment Partners LLC lifted its position in Ryan Specialty by 76.9% during the third quarter. Champlain Investment Partners LLC now owns 3,066,011 shares of the company’s stock valued at $172,800,000 after buying an additional 1,332,773 shares during the period. Montrusco Bolton Investments Inc. lifted its position in Ryan Specialty by 23.7% during the third quarter. Montrusco Bolton Investments Inc. now owns 3,974,869 shares of the company’s stock valued at $217,745,000 after buying an additional 762,638 shares during the period. Kovitz Investment Group Partners LLC purchased a new position in Ryan Specialty during the third quarter valued at $37,636,000. Finally, Vulcan Value Partners LLC purchased a new position in Ryan Specialty during the third quarter valued at $35,596,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Insider Buying and Selling at Ryan Specialty

In related news, EVP Mark Stephen Katz purchased 3,215 shares of Ryan Specialty stock in a transaction dated Wednesday, June 3rd. The stock was purchased at an average cost of $31.07 per share, for a total transaction of $99,890.05. Following the completion of the acquisition, the executive vice president directly owned 4,332 shares of the company’s stock, valued at $134,595.24. The trade was a 287.82% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 52.03% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Ryan Specialty in a research report on Monday, May 4th. Bank of America lowered their price objective on Ryan Specialty from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Citigroup lowered their price objective on Ryan Specialty from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, May 4th. Piper Sandler lowered their price objective on Ryan Specialty from $43.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. lowered their price objective on Ryan Specialty from $49.00 to $43.00 and set an “underweight” rating for the company in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $46.76.

Ryan Specialty Price Performance

Shares of NYSE:RYAN opened at $32.57 on Friday. Ryan Specialty Holdings Inc. has a 1-year low of $29.28 and a 1-year high of $70.08. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.02 and a quick ratio of 1.02. The business has a fifty day moving average price of $33.52 and a 200-day moving average price of $42.63. The company has a market capitalization of $8.59 billion, a PE ratio of 42.30, a PEG ratio of 0.77 and a beta of 0.64.

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

Ryan Specialty announced that its board has approved a stock repurchase program on Tuesday, May 26th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to purchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Ryan Specialty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th were issued a dividend of $0.13 per share. The ex-dividend date was Tuesday, May 12th. This represents a $0.52 annualized dividend and a dividend yield of 1.6%. Ryan Specialty’s dividend payout ratio (DPR) is presently 67.53%.

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.