Ping An Insurance Co. of China (OTCMKTS:PNGAY) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Ping An Insurance Co. of China (OTCMKTS:PNGAY) from a strong-buy rating to a hold rating in a research note published on Tuesday,Zacks.com reports.

Ping An Insurance Co. of China Stock Down 0.1%

Ping An Insurance Co. of China stock opened at $13.31 on Tuesday. The company has a quick ratio of 0.49, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a market cap of $121.19 billion, a P/E ratio of 7.27 and a beta of 0.36. The business has a fifty day moving average of $14.19 and a two-hundred day moving average of $12.81. Ping An Insurance Co. of China has a twelve month low of $9.90 and a twelve month high of $15.80.

Ping An Insurance Co. of China (OTCMKTS:PNGAY) last announced its quarterly earnings results on Tuesday, August 26th. The company reported $0.63 earnings per share (EPS) for the quarter. The business had revenue of $40.08 billion for the quarter. Ping An Insurance Co. of China had a return on equity of 9.12% and a net margin of 10.59%. On average, analysts forecast that Ping An Insurance Co. of China will post 2.12 earnings per share for the current fiscal year.

Ping An Insurance Co. of China Cuts Dividend

The company also recently announced a dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, September 12th will be issued a $0.219 dividend. The ex-dividend date is Thursday, September 11th. This represents a yield of 424.0%. Ping An Insurance Co. of China’s payout ratio is currently 24.04%.

Ping An Insurance Co. of China Company Profile

Ping An Insurance (Group) Company of China, Ltd. provides financial products and services for insurance, banking, asset management, and technology businesses in the People's Republic of China. The company operates through Life and Health Insurance; Property and Casualty Insurance; Banking; Asset Management; and Technology segments.