PICC Property and Casualty (OTCMKTS:PPCCY) Stock Price Down 1.4% – Here’s What Happened

PICC Property and Casualty Company Limited (OTCMKTS:PPCCY) dropped 1.4% during mid-day trading on Thursday . The stock traded as low as $57.50 and last traded at $58.23. Approximately 910 shares changed hands during trading, a decline of 53% from the average daily volume of 1,944 shares. The stock had previously closed at $59.04.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised shares of PICC Property and Casualty to a “buy” rating in a research note on Tuesday, May 27th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy”.

PICC Property and Casualty Stock Performance

The stock’s fifty day simple moving average is $53.39 and its 200-day simple moving average is $48.58.

PICC Property and Casualty Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, August 25th. Shareholders of record on Tuesday, July 8th were issued a dividend of $0.97 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a yield of 322.0%. This is a positive change from PICC Property and Casualty’s previous dividend of $0.59. PICC Property and Casualty’s payout ratio is presently 49.94%.

About PICC Property and Casualty

PICC Property and Casualty Company Limited, together with its subsidiaries, operates as a property and casualty insurance company in the People's Republic of China. It operates through Motor Vehicle, Accidental Injury and Health, Agriculture, Liability, Commercial Property, and Others segments. The company offers accidental injury and medical expenses, short-term health, homeowners, special risk, marine hull, construction, household property, cargo, credit and surety, accidental injury, and other insurance products.