Short Interest in Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY) Grows By 69.1%

Key Points

• Short interest in Ping An Insurance Co. of China Ltd. surged by 69.1% in September, with total short interest reaching 32,800 shares by September 30th.
• The company also recently announced a $0.219 dividend to be paid on November 3rd, with a yield of 424.0% and a payout ratio of 24.04%.
• Analysts downgraded Ping An Insurance from a "strong-buy" to a "hold" rating, reflecting a shift in investor sentiment towards the stock.

Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY - Get Free Report) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 32,800 shares, an increase of 69.1% from the September 15th total of 19,400 shares. Based on an average trading volume of 222,700 shares, the days-to-cover ratio is currently 0.1 days. Based on an average trading volume of 222,700 shares, the days-to-cover ratio is currently 0.1 days.

Ping An Insurance Co. of China Price Performance

OTCMKTS:PNGAY traded up $0.16 during mid-day trading on Tuesday, reaching $14.27. The stock had a trading volume of 27,586 shares, compared to its average volume of 175,134. The firm has a 50 day moving average price of $14.13 and a two-hundred day moving average price of $12.98. The stock has a market capitalization of $129.91 billion, a P/E ratio of 7.80 and a beta of 0.34. Ping An Insurance Co. of China has a one year low of $9.90 and a one year high of $15.25. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.49 and a current ratio of 0.47.

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

Ping An Insurance Co. of China Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, September 12th will be given a $0.219 dividend. The ex-dividend date is Thursday, September 11th. This represents a yield of 424.0%. Ping An Insurance Co. of China's payout ratio is presently 24.04%.

Analyst Ratings Changes

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

About Ping An Insurance Co. of China

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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