China Life Insurance Co. (NYSE:LFC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

According to Zacks, “China Life's growth has been adversely impacted by increasing operating expenses and foreign exchange volatility. In the recently reported third quarter, the net profit attributable to equity holders of the Company at the end of first nine months of 2016 plunged 60% year over year. The impact of the change of discount rate assumption of reserves of traditional insurance contracts also contributed to the pressure on the bottom line. However, the company's strength lays in its robust market position and organic growth initiatives. The company’s operational efficiency is reflected by its product upgrades and growth in premiums over last few quarters. An extensive distribution and service network has established it one of the leading insurance companies in China. China Life reported operating income of RMB 115.2 billion (US$ 17.3 billion) in third quarter 2016 that improved 27.7% year over year.”

Other equities research analysts also recently issued research reports about the company. Morgan Stanley downgraded China Life Insurance from an “overweight” rating to an “equal weight” rating in a research report on Thursday, September 29th. HSBC upgraded China Life Insurance from a “reduce” rating to a “hold” rating in a research report on Tuesday, September 27th.

China Life Insurance (NYSE:LFC) traded up 2.51% during midday trading on Tuesday, reaching $13.91. The company’s stock had a trading volume of 574,525 shares. China Life Insurance has a 12 month low of $10.07 and a 12 month high of $18.29. The stock’s 50-day moving average price is $12.90 and its 200-day moving average price is $11.91. The firm has a market capitalization of $79.24 billion, a price-to-earnings ratio of 38.11 and a beta of 1.34.

Large investors have recently made changes to their positions in the stock. First New York Securities LLC NY bought a new stake in shares of China Life Insurance during the third quarter worth approximately $111,000. NEXT Financial Group Inc acquired a new stake in China Life Insurance during the third quarter worth about $131,000. Bellecapital International Ltd. acquired a new stake in China Life Insurance during the second quarter worth about $132,000. Paloma Partners Management Co acquired a new stake in China Life Insurance during the second quarter worth about $138,000. Finally, Rehmann Capital Advisory Group acquired a new stake in China Life Insurance during the third quarter worth about $141,000. Institutional investors own 0.29% 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.

5 Day Chart for NYSE:LFC

Receive News & Stock Ratings for China Life Insurance Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Life Insurance Co. and related stocks with our FREE daily email newsletter.