Ping An Insurance Co. of China (OTCMKTS:PNGAY) Hits New 52-Week Low - Here's Why

Key Points

• Ping An Insurance shares hit a new 52-week low, falling to $12.30 before last trading at $12.41, compared with a prior close of $12.57.
• Zacks Research downgraded the stock from “strong buy” to “hold,” leaving Ping An with a consensus “Hold” rating from analysts.
• The company reported quarterly EPS of $0.98 on $55.38 billion in revenue, with a 13.21% net margin and 12.42% return on equity.

Shares of Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY - Get Free Report) hit a new 52-week low during mid-day trading on Monday. The company traded as low as $12.30 and last traded at $12.41, with a volume of 792,320 shares traded. The stock had previously closed at $12.57.

Analysts Set New Price Targets

Separately, Zacks Research downgraded Ping An Insurance Co. of China from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 21st. One analyst has rated the stock with a Hold rating. According to MarketBeat, the company presently has a consensus rating of "Hold".

Ping An Insurance Co. of China Stock Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 0.46 and a quick ratio of 0.47. The stock has a market capitalization of $113.34 billion, a P/E ratio of 5.24 and a beta of 0.33. The company has a fifty day moving average of $13.69 and a two-hundred day moving average of $14.46.

Ping An Insurance Co. of China (OTCMKTS:PNGAY - Get Free Report) last announced its quarterly earnings results on Thursday, August 20th. The company reported $0.98 earnings per share (EPS) for the quarter. The company had revenue of $55.38 billion during the quarter. Ping An Insurance Co. of China had a net margin of 13.21% and a return on equity of 12.42%. On average, equities analysts anticipate that Ping An Insurance Co. of China Ltd. will post 2.55 EPS for the current year.

About Ping An Insurance Co. of China

Ping An Insurance (Group) Company of China Ltd. is a China-based integrated financial services group founded in 1988 and headquartered in Shenzhen. The company provides insurance, banking, investment and technology-related services through a range of subsidiaries and business units.

Its insurance operations include life and health insurance, property and casualty insurance, annuities and related financial protection products. Ping An also offers banking services, asset management and investment products, as well as healthcare and automotive-related services supported by its technology platforms.

Ping An primarily serves customers in mainland China through digital channels and an extensive network of agents, branches and service providers.

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