Citigroup Inc. Sells 514,741 Shares of Fanhua Inc. (NASDAQ:FANH)

Citigroup Inc. cut its position in Fanhua Inc. (NASDAQ:FANH) by 44.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 632,529 shares of the financial services provider’s stock after selling 514,741 shares during the quarter. Citigroup Inc. owned 1.18% of Fanhua worth $5,490,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FANH. ExodusPoint Capital Management LP bought a new position in Fanhua in the 2nd quarter valued at approximately $69,000. Jane Street Group LLC bought a new position in shares of Fanhua during the second quarter valued at $96,000. Penserra Capital Management LLC acquired a new position in shares of Fanhua during the first quarter worth $133,000. Employees Retirement System of Texas bought a new stake in shares of Fanhua in the first quarter worth $145,000. Finally, Gabelli Funds LLC increased its holdings in Fanhua by 63.3% in the first quarter. Gabelli Funds LLC now owns 24,500 shares of the financial services provider’s stock valued at $178,000 after purchasing an additional 9,500 shares during the period. 12.16% of the stock is owned by institutional investors and hedge funds.

Fanhua Stock Performance

NASDAQ:FANH opened at $7.25 on Friday. Fanhua Inc. has a fifty-two week low of $4.35 and a fifty-two week high of $9.54. The company has a 50 day simple moving average of $7.06 and a two-hundred day simple moving average of $7.72. The company has a market capitalization of $389.32 million, a PE ratio of 13.68 and a beta of 0.05.

Fanhua (NASDAQ:FANH) last posted its quarterly earnings data on Tuesday, May 30th. The financial services provider reported $0.16 EPS for the quarter. Fanhua had a net margin of 6.79% and a return on equity of 11.02%. The company had revenue of $120.53 million for the quarter.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Fanhua in a report on Thursday, August 17th. They set a “hold” rating on the stock.

Fanhua Company Profile

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.