Fanhua (NASDAQ:FANH) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Fanhua (NASDAQ:FANHGet Rating) in a report published on Monday morning. The firm issued a hold rating on the financial services provider’s stock.

Separately, Zacks Investment Research cut Fanhua from a buy rating to a hold rating in a report on Tuesday, March 1st.

Shares of NASDAQ FANH opened at $6.30 on Monday. The stock has a market cap of $338.28 million, a price-to-earnings ratio of 8.87 and a beta of 0.54. Fanhua has a 1-year low of $6.01 and a 1-year high of $16.00. The stock’s 50-day moving average is $6.90 and its 200 day moving average is $9.23.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 26th. Shareholders of record on Tuesday, April 12th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, April 11th. This represents a $0.60 dividend on an annualized basis and a yield of 9.52%. Fanhua’s dividend payout ratio (DPR) is currently 81.69%.

A number of institutional investors have recently made changes to their positions in FANH. BlackRock Inc. increased its stake in shares of Fanhua by 0.8% during the fourth quarter. BlackRock Inc. now owns 1,012,332 shares of the financial services provider’s stock valued at $7,371,000 after buying an additional 8,214 shares during the period. Marshall Wace LLP purchased a new position in shares of Fanhua during the fourth quarter valued at approximately $663,000. Canada Pension Plan Investment Board increased its stake in shares of Fanhua by 106.1% during the fourth quarter. Canada Pension Plan Investment Board now owns 97,110 shares of the financial services provider’s stock valued at $707,000 after buying an additional 50,000 shares during the period. Citadel Advisors LLC purchased a new position in shares of Fanhua during the fourth quarter valued at approximately $420,000. Finally, Nuveen Asset Management LLC increased its stake in shares of Fanhua by 7.1% during the fourth quarter. Nuveen Asset Management LLC now owns 43,626 shares of the financial services provider’s stock valued at $318,000 after buying an additional 2,900 shares during the period. 23.98% of the stock is currently owned by institutional investors and hedge funds.

About Fanhua (Get Rating)

Fanhua Inc, together with its subsidiary, distributes insurance products in China. It operates through two segments, Insurance Agency and Claims Adjusting. The Insurance Agency segment provides property and casualty insurance products that primarily include individual accident, travel, homeowner, and indemnity medical insurance products; and life insurance products, such as individual health, individual whole life, individual term life, individual endowment life, and individual annuity, as well as participating insurance products.

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