Pictet Asset Management SA Invests $249,000 in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Pictet Asset Management SA purchased a new position in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN – Get Rating) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,128 shares of the company’s stock, valued at approximately $249,000.

Other hedge funds have also modified their holdings of the company. Royal Bank of Canada grew its holdings in shares of Ryan Specialty by 524.8% during the 1st quarter. Royal Bank of Canada now owns 781 shares of the company’s stock worth $31,000 after purchasing an additional 656 shares during the period. American International Group Inc. acquired a new stake in shares of Ryan Specialty during the second quarter valued at about $50,000. Quantbot Technologies LP acquired a new stake in shares of Ryan Specialty during the second quarter valued at about $51,000. Tower Research Capital LLC TRC raised its position in Ryan Specialty by 340.3% in the third quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock valued at $74,000 after purchasing an additional 1,409 shares during the period. Finally, Counterpoint Mutual Funds LLC purchased a new stake in Ryan Specialty in the third quarter valued at approximately $112,000. 26.82% of the stock is currently owned by hedge funds and other institutional investors.

Ryan Specialty Trading Down 1.8 %

Shares of NYSE:RYAN opened at $41.38 on Thursday. Ryan Specialty Holdings, Inc. has a 52 week low of $32.13 and a 52 week high of $46.40. The company’s 50 day moving average is $42.24 and its two-hundred day moving average is $41.71. The company has a market cap of $10.74 billion, a PE ratio of 89.96 and a beta of 0.47. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 2.58.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RYAN. Royal Bank of Canada cut their target price on Ryan Specialty from $47.00 to $46.00 and set a “sector perform” rating on the stock in a research report on Friday, November 11th. BMO Capital Markets began coverage on Ryan Specialty in a research note on Thursday, January 19th. They set an “outperform” rating and a $51.00 target price on the stock. UBS Group lowered their price objective on shares of Ryan Specialty to $48.00 in a research note on Wednesday, November 16th. Citigroup began coverage on shares of Ryan Specialty in a research note on Wednesday, December 14th. They issued a “neutral” rating and a $42.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Ryan Specialty from $40.00 to $39.00 in a research note on Friday, November 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $46.38.

Ryan Specialty Profile

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Ryan Specialty Group Holdings, Inc operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers. It offers distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter.