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

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

Ping An Insurance Co. of China Stock Performance

Shares of PNGAY stock opened at $16.00 on Tuesday. The stock has a market capitalization of $146.24 billion, a P/E ratio of 7.80 and a beta of 0.30. The company has a 50 day moving average price of $16.80 and a 200 day moving average price of $15.97. Ping An Insurance Co. of China has a fifty-two week low of $10.36 and a fifty-two week high of $18.92.

Ping An Insurance Co. of China (OTCMKTS:PNGAY) last announced 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 for the quarter. On average, research analysts forecast that Ping An Insurance Co. of China will post 2.12 EPS for the current fiscal year.

Ping An Insurance Co. of China Company Profile

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.