Chicago Capital LLC’s recent acquisition of a stake in Ryan Specialty Holdings, Inc. has caught the attention of investors and industry experts alike. This move signifies a growing interest in the specialty products and solutions offered by Ryan Specialty, further solidifying its position as a leading service provider in the insurance industry.
In its most recent Form 13F filing with the Securities and Exchange Commission, Chicago Capital LLC revealed that it acquired 7,435 shares of Ryan Specialty’s stock during the first quarter of this year. The total value of this stake was reported to be approximately $299,000. Such a significant investment demonstrates Chicago Capital LLC’s belief in the company’s potential for growth and profitability.
This news comes on the heels of Ryan Specialty’s impressive quarterly earnings results, which were released on May 4th. The company exceeded expectations by reporting earnings per share (EPS) of $0.26 for the quarter, surpassing the consensus estimate of $0.23 by $0.03. This stellar performance is indicative of Ryan Specialty’s effective management and robust financial health.
Moreover, Ryan Specialty achieved a net margin of 10.11% and a return on equity (ROE) of 40.74%, demonstrating its ability to generate substantial returns for its shareholders. The company also witnessed an increase in revenue during the quarter, reporting $457.90 million compared to analysts’ projected revenue of $441.53 million. This represents an impressive year-over-year growth rate of 18.4%.
Ryan Specialty operates as a vital intermediary between insurance brokers, agents, and carriers by providing distribution, underwriting, product development, administration, and risk management services. Its role as both a wholesale broker and managing underwriter positions it uniquely within the industry.
The company’s commitment to delivering specialized solutions tailored to meet specific client needs has been instrumental in establishing itself as a trusted partner within the insurance market. By leveraging its expertise and comprehensive suite of services, Ryan Specialty has built a strong reputation and cultivated long-lasting relationships with its stakeholders.
Looking ahead, research analysts anticipate that Ryan Specialty Holdings, Inc. will continue to thrive and post impressive financial results. It is projected to achieve earnings per share of 1.33 for the current year, further solidifying its position as a financially robust and growth-oriented company.
In conclusion, Chicago Capital LLC’s acquisition of a stake in Ryan Specialty Holdings, Inc. underscores the growing interest in the company’s specialty products and services within the insurance industry. With its strong quarterly earnings performance and commitment to delivering tailored solutions, it is evident that Ryan Specialty is well-positioned for continued success in the years to come.
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Hedge Funds and Institutional Investors Show Interest in Ryan Specialty Holdings, Inc.
Ryan Specialty Holdings, Inc., an insurance service provider for brokers, agents, and carriers, has been gaining attention from hedge funds and institutional investors. Recent modifications in holdings by various hedge funds indicate a growing interest in the company.
Raymond James & Associates purchased a new stake in Ryan Specialty during the first quarter with a value of $206,000. Additionally, Allspring Global Investments Holdings LLC boosted its stake by 5,548.6% during the same period. They now own 89,248 shares worth $3,591,000 after acquiring an additional 87,668 shares.
Dfpg Investments LLC also saw growth in their holdings of Ryan Specialty. Their position increased by 5.1%, resulting in ownership of 18,360 shares valued at $739,000. Victory Capital Management Inc., on the other hand, increased their stake by 2.2% during the fourth quarter to reach 1,411,583 shares worth $58,595,000.
Lastly, Rockefeller Capital Management L.P.’s holdings in Ryan Specialty grew significantly by 142.8% in the fourth quarter. They now possess 2,326 shares valued at $96,000 after purchasing an additional 1,368 shares.
Overall, hedge funds and other institutional investors currently own approximately 30.56% of Ryan Specialty’s stock.
On June 30th this year (2023), Ryan Specialty opened at $44.17 on the New York Stock Exchange (NYSE). The company exhibits a debt-to-equity ratio of 2.29 and both its quick ratio and current ratio stand at 1.25. With a fifty-day moving average of $42.24 and a two-hundred day moving average of $41.51.
With a market capitalization of around $11.47 billion and a price-earnings ratio of 78.88 along with a beta of 0.43, Ryan Specialty has a strong presence in the insurance service provider sector. Its fifty-two week low is $32.13 and its high is $46.40.
Ryan Specialty Holdings, Inc’s business model revolves around providing specialty products and solutions to insurance brokers, agents, and carriers. Their services include distribution, underwriting, product development, administration, and risk management by acting as a wholesale broker and managing underwriter.
Analysts have been giving their opinions on RYAN recently. Citigroup increased their price objective from $44.00 to $45.00 in a research report dated April 18th. TheStreet also upgraded Ryan Specialty from a “d” rating to a “c-” rating in a research report on March 23rd. Finally, Wells Fargo & Company raised their target price from $49.00 to $50.00 in a research report published on May 5th.
Research analysts’ consensus rating for Ryan Specialty based on data from Bloomberg.com is currently “Hold” with an average target price of $46.88.
In terms of recent news regarding the company’s stock transactions by insiders, President Timothy William Turner sold 689,909 shares on Monday, May 22nd at an average price of $43.45 per share amounting to approximately $29,976,546.05 in total value. Following the sale, he now holds 4,058 shares worth about $176,320.10.
Additionally, Director Corp Onex sold 8,310,091 shares of the stock on Thursday, May 25th at an average price of $43.45 per share totaling around $361, 073, 453. 95 in value. Following the sale, Corp Onex owns about 4, 145, 621 shares worth approximately $180, 127, 232. 45.
Throughout the last quarter, insiders have sold a significant number of company shares, totaling 9,295,921 shares valued at $403,805,692. Insiders currently own 54.51% of Ryan Specialty’s stock.
With the growing interest from hedge funds and institutional investors as well as positive research ratings and insider transactions, it will be interesting to see how Ryan Specialty continues to perform in the insurance market.
