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

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

Ping An Insurance Co. of China Stock Performance

Shares of PNGAY opened at $16.77 on Tuesday. Ping An Insurance Co. of China has a 1 year low of $9.90 and a 1 year high of $17.34. The stock has a market capitalization of $153.28 billion, a PE ratio of 7.87 and a beta of 0.24. The stock has a 50-day simple moving average of $15.50 and a 200-day simple moving average of $14.36.

Ping An Insurance Co. of China (OTCMKTS:PNGAY) last released its earnings results on Tuesday, October 28th. The company reported $0.99 earnings per share for the quarter. Ping An Insurance Co. of China had a net margin of 11.89% and a return on equity of 10.48%. The firm had revenue of $49.63 billion for the quarter. Analysts predict that Ping An Insurance Co. of China will post 2.12 EPS for the current year.

About Ping An Insurance Co. of China

Ping An Insurance Company of China, Ltd., commonly known as Ping An, is a diversified financial services conglomerate headquartered in Shenzhen, China. Founded in 1988 as one of the country’s first joint-stock insurance companies, Ping An has developed broad capabilities across life insurance, property and casualty insurance, health insurance and annuity products. The company serves individual and corporate customers with a range of protection and savings products, including life policies, auto and property coverage, commercial insurance solutions and retirement-oriented offerings.

Beyond traditional insurance underwriting, Ping An operates an integrated financial services platform that includes retail and corporate banking, asset and wealth management, securities brokerage and investment services.