Ping An Insurance Co. of China (OTCMKTS:PNGAY) Shares Gap Up – Here’s What Happened

Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $14.38, but opened at $14.80. Ping An Insurance Co. of China shares last traded at $14.9860, with a volume of 49,693 shares traded.

Analyst Upgrades and Downgrades

Separately, Zacks Research cut Ping An Insurance Co. of China from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Ping An Insurance Co. of China Stock Up 3.7%

The stock has a market capitalization of $136.28 billion, a price-to-earnings ratio of 7.27 and a beta of 0.24. The business’s 50-day moving average is $17.19 and its two-hundred day moving average is $15.91.

Ping An Insurance Co. of China (OTCMKTS:PNGAY) last released its quarterly earnings data on Thursday, March 26th. The company reported $0.03 EPS for the quarter. Ping An Insurance Co. of China had a net margin of 11.80% and a return on equity of 10.00%. The company had revenue of $33.66 billion during the quarter. As a group, analysts forecast that Ping An Insurance Co. of China Ltd. will post 2.12 EPS for the current fiscal 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.