Pictet Asset Management Holding SA Buys 2,684 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Pictet Asset Management Holding SA increased its stake in shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 21.3% during the 4th quarter, Holdings Channel reports. The fund owned 15,302 shares of the company’s stock after acquiring an additional 2,684 shares during the period. Pictet Asset Management Holding SA’s holdings in Ryan Specialty were worth $982,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in Ryan Specialty by 107.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 459,464 shares of the company’s stock worth $30,504,000 after buying an additional 238,064 shares during the period. Bar Harbor Wealth Management lifted its holdings in shares of Ryan Specialty by 5.9% in the 4th quarter. Bar Harbor Wealth Management now owns 168,871 shares of the company’s stock worth $10,835,000 after purchasing an additional 9,482 shares in the last quarter. Barclays PLC grew its position in Ryan Specialty by 1.1% in the 3rd quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock valued at $108,994,000 after purchasing an additional 17,267 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in Ryan Specialty by 51.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 30,760 shares of the company’s stock valued at $2,042,000 after purchasing an additional 10,460 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in Ryan Specialty by 101.6% during the third quarter. HighTower Advisors LLC now owns 39,969 shares of the company’s stock worth $2,661,000 after buying an additional 20,139 shares during the last quarter. 84.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RYAN. UBS Group lifted their price objective on shares of Ryan Specialty from $82.00 to $84.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Royal Bank of Canada cut their price target on Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. Wells Fargo & Company increased their price objective on Ryan Specialty from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Friday, February 21st. Finally, Keefe, Bruyette & Woods cut their target price on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Ryan Specialty currently has an average rating of “Hold” and an average target price of $75.27.

Insider Activity

In other news, Director Nicholas Dominic Cortezi sold 29,466 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $65.06, for a total value of $1,917,057.96. Following the sale, the director now owns 45,409 shares of the company’s stock, valued at $2,954,309.54. The trade was a 39.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Brendan Martin Mulshine sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $69.30, for a total transaction of $2,079,000.00. The disclosure for this sale can be found here. Insiders have sold 241,360 shares of company stock valued at $16,006,428 in the last 90 days. Insiders own 11.10% of the company’s stock.

Ryan Specialty Stock Down 7.1 %

RYAN stock opened at $70.55 on Monday. The stock has a market cap of $18.48 billion, a P/E ratio of 102.25, a P/E/G ratio of 1.19 and a beta of 0.66. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40. The stock’s fifty day simple moving average is $69.60 and its two-hundred day simple moving average is $68.68. Ryan Specialty Holdings, Inc. has a 1-year low of $48.48 and a 1-year high of $77.16.

Ryan Specialty (NYSE:RYAN) last released its earnings results on Thursday, February 20th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The company had revenue of $663.53 million for the quarter, compared to the consensus estimate of $658.80 million. Analysts expect that Ryan Specialty Holdings, Inc. will post 2.29 EPS for the current year.

Ryan Specialty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This is a positive change from Ryan Specialty’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 0.68%. Ryan Specialty’s payout ratio is presently 69.57%.

About Ryan Specialty

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