Ping An Insurance Co. of China (OTCMKTS:PNGAY) Stock Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Ping An Insurance Co. of China’s stock price has crossed above its 200-day moving average, trading at $14.14 with a peak of $14.18.
• Zacks Research downgraded the stock from a "strong-buy" to a "hold" rating, with an average rating of "Hold" among analysts.
• The company recently announced a dividend of $0.219, resulting in a substantial dividend yield of 424.0%.

Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.95 and traded as high as $14.18. Ping An Insurance Co. of China shares last traded at $14.14, with a volume of 155,842 shares changing hands.

Analysts Set New Price Targets

Separately, Zacks Research downgraded shares of Ping An Insurance Co. of China from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 23rd. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of "Hold".

Ping An Insurance Co. of China Price Performance

The company has a market capitalization of $128.75 billion, a P/E ratio of 7.73 and a beta of 0.34. The business's 50-day simple moving average is $14.13 and its 200 day simple moving average is $12.95. The company has a current ratio of 0.47, a quick ratio of 0.49 and a debt-to-equity ratio of 0.59.

Ping An Insurance Co. of China (OTCMKTS:PNGAY - Get Free Report) last released its quarterly earnings results on Tuesday, August 26th. The company reported $0.63 EPS for the quarter. Ping An Insurance Co. of China had a net margin of 10.59% and a return on equity of 9.12%. The company had revenue of $40.08 billion for the quarter. As a group, sell-side analysts anticipate that Ping An Insurance Co. of China Ltd. will post 2.12 EPS for the current year.

Ping An Insurance Co. of China Cuts Dividend

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

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