China Life Insurance Co. (LFC) Lifted to “Hold” at Zacks Investment Research
China Life Insurance Co. (NYSE:LFC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “China Life Insurance’s strength lays in its robust market position and organic growth initiatives. Product upgrades and growth in premiums over last few quarters are also considered as a result of its operational efficiency. The company has consistently witnessed significant improvement in its life insurance business, individual agent channel, group insurance channel and also bancassurance channel during the initial quarters 2016. An extensive distribution and service network has established it one of the leading insurance companies in China. However, the persistently soft interest rate has resulted in lower investment income, which in turn, has limited profit. The impact of the change of discount rate assumption of reserves of traditional insurance contracts also contributed to the pressure on bottom line. Increasing operating expenses and currency risks also remain other headwinds.”
Separately, HSBC upgraded China Life Insurance from a “reduce” rating to a “hold” rating in a report on Tuesday.
Shares of China Life Insurance (NYSE:LFC) traded down 0.22% during midday trading on Wednesday, hitting $13.31. The stock had a trading volume of 194,183 shares. The firm has a market cap of $75.24 billion, a P/E ratio of 38.03 and a beta of 1.24. China Life Insurance has a 52 week low of $10.07 and a 52 week high of $21.00. The company’s 50 day moving average is $12.61 and its 200 day moving average is $11.64.
A number of large investors have recently modified their holdings of the stock. Private Bank & Trust Co. boosted its stake in shares of China Life Insurance by 27.9% in the second quarter. Private Bank & Trust Co. now owns 15,423 shares of the company’s stock valued at $166,000 after buying an additional 3,366 shares in the last quarter. Capstone Asset Management Co. raised its position in China Life Insurance by 111.6% in the second quarter. Capstone Asset Management Co. now owns 680,719 shares of the company’s stock worth $7,325,000 after buying an additional 358,975 shares during the last quarter. Augustine Asset Management Inc. raised its position in China Life Insurance by 1.8% in the second quarter. Augustine Asset Management Inc. now owns 193,100 shares of the company’s stock worth $2,077,000 after buying an additional 3,345 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in China Life Insurance by 5.8% in the second quarter. BNP Paribas Arbitrage SA now owns 133,724 shares of the company’s stock worth $1,439,000 after buying an additional 7,317 shares during the last quarter. Finally, Moore Capital Management LP acquired a new position in China Life Insurance during the first quarter worth approximately $12,290,000. Institutional investors own 0.27% of the company’s stock.
China Life Insurance Company Profile
China Life Insurance Company Limited is a life insurance company. The Company provides a range of insurance products, including individual and group life insurance, health insurance and accident insurance products. It operates through four segments: life insurance, health insurance, accident insurance and other.
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