Kennedy Capital Management LLC Sells 14,683 Shares of Ryan Specialty Holdings Inc. $RYAN

Kennedy Capital Management LLC reduced its holdings in Ryan Specialty Holdings Inc. (NYSE:RYAN) by 11.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 119,076 shares of the company’s stock after selling 14,683 shares during the period. Kennedy Capital Management LLC’s holdings in Ryan Specialty were worth $6,148,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in RYAN. Ameritas Investment Partners Inc. grew its holdings in shares of Ryan Specialty by 0.9% during the 3rd quarter. Ameritas Investment Partners Inc. now owns 21,119 shares of the company’s stock worth $1,190,000 after purchasing an additional 185 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Ryan Specialty by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 32,797 shares of the company’s stock worth $1,848,000 after purchasing an additional 203 shares in the last quarter. Covestor Ltd grew its holdings in shares of Ryan Specialty by 16.8% during the 4th quarter. Covestor Ltd now owns 1,467 shares of the company’s stock worth $76,000 after purchasing an additional 211 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in shares of Ryan Specialty by 1.0% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 25,355 shares of the company’s stock worth $1,309,000 after purchasing an additional 240 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec grew its holdings in shares of Ryan Specialty by 7.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 3,313 shares of the company’s stock worth $171,000 after purchasing an additional 240 shares in the last quarter. 84.82% of the stock is owned by institutional investors.

Ryan Specialty Price Performance

Shares of RYAN stock opened at $35.35 on Tuesday. The stock’s fifty day simple moving average is $33.66 and its 200 day simple moving average is $41.56. 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 firm has a market cap of $9.32 billion, a price-to-earnings ratio of 45.91, a P/E/G ratio of 0.86 and a beta of 0.64. Ryan Specialty Holdings Inc. has a one year low of $29.28 and a one year high of $69.49.

Ryan Specialty (NYSE:RYAN) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.43 by $0.04. The business had revenue of $795.23 million for 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 quarter in the previous year, the firm earned $0.39 EPS. On average, analysts expect that Ryan Specialty Holdings Inc. will post 2.05 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

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

Ryan Specialty declared that its board has approved a share repurchase program on Tuesday, May 26th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on RYAN shares. JPMorgan Chase & Co. decreased their price objective on Ryan Specialty from $49.00 to $43.00 and set an “underweight” rating on the stock in a report on Thursday, April 9th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Ryan Specialty in a report on Tuesday, May 26th. Royal Bank Of Canada started coverage on Ryan Specialty in a report on Tuesday, March 17th. They set an “outperform” rating and a $45.00 price objective on the stock. BMO Capital Markets lowered Ryan Specialty from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $66.00 to $43.00 in a report on Wednesday, February 25th. Finally, The Goldman Sachs Group lowered Ryan Specialty from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $42.00 to $35.00 in a report on Monday, June 8th. One 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $47.12.

Insider Activity at Ryan Specialty

In related news, EVP Mark Stephen Katz purchased 3,215 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were acquired at an average price of $31.07 per share, with a total value of $99,890.05. Following the purchase, the executive vice president directly owned 4,332 shares in the company, valued at $134,595.24. This represents a 287.82% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Patrick G. Ryan purchased 120,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average cost of $32.50 per share, for a total transaction of $3,900,000.00. Following the purchase, the chairman owned 13,817,859 shares in the company, valued at $449,080,417.50. This represents a 0.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 130,715 shares of company stock valued at $4,263,590 in the last 90 days. 52.03% of the stock is owned by corporate insiders.

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.