Ping An Insurance (Group) Company of China (OTCMKTS:PNGAY) Rating Lowered to Sell at Zacks Investment Research

Posted by on May 24th, 2022

Ping An Insurance (Group) Company of China (OTCMKTS:PNGAY – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Ping An Insurance Company of China, Ltd. is engaged in providing products and services in insurance, banking and investment to retail customers and corporate clients. It offers life insurance; property and casualty insurance, including motor, property loss, liability, credit and trust, mortgage loan and individual car installment loan; health insurance comprising accident, committed governmental health insurance management, health consulting, and reinsurance; and annuity products, such as commercial supplementary pension and short-term group insurance. The company also provides trust services; products and services for investment banking, fixed earnings, assets management, securities trading, brokerage, research, and derivate products; and financial futures’ business and commodity futures’ brokerages, as well as asset hedge service, futures investment consultation, and futures training. Ping An Insurance Company of China, Ltd. is headquartered in Shenzhen, the People’s Republic of China. “

Shares of OTCMKTS PNGAY traded down $0.09 during midday trading on Tuesday, hitting $12.10. The company’s stock had a trading volume of 250,010 shares, compared to its average volume of 374,221. Ping An Insurance has a 1-year low of $11.50 and a 1-year high of $22.15. The firm’s fifty day moving average price is $13.47 and its 200-day moving average price is $14.58. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market cap of $110.60 billion, a P/E ratio of 6.84 and a beta of 0.78.

Ping An Insurance (Group) Company of China (OTCMKTS:PNGAY – Get Rating) last posted its quarterly earnings results on Thursday, March 17th. The company reported $0.35 EPS for the quarter. The business had revenue of $47.44 billion during the quarter. Ping An Insurance (Group) Company of China had a net margin of 7.89% and a return on equity of 9.81%. As a group, research analysts predict that Ping An Insurance will post 1.85 earnings per share for the current fiscal year.

About Ping An Insurance (Group) Company of China (Get Rating)

Ping An Insurance (Group) Company of China, Ltd. provides financial products and services for insurance, banking, asset management, and fintech and healthtech businesses in the People's Republic of China. The company's Life and Health Insurance segment offers term, whole-life, endowment, annuity, investment-linked, universal life, and health care and medical insurance to individual and corporate customers.

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