Morgan Stanley Raises Stake in Fanhua Inc. (FANH)
Morgan Stanley lifted its position in Fanhua Inc. (NASDAQ:FANH) by 14.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 145,354 shares of the financial services provider’s stock after purchasing an additional 18,216 shares during the quarter. Morgan Stanley owned about 0.25% of Fanhua worth $1,254,000 at the end of the most recent reporting period.
Separately, Oxford Asset Management grew its position in Fanhua by 105.5% in the first quarter. Oxford Asset Management now owns 55,324 shares of the financial services provider’s stock worth $477,000 after acquiring an additional 28,407 shares in the last quarter. Institutional investors own 14.27% of the company’s stock.
Fanhua Inc. (NASDAQ FANH) traded up 2.60% on Wednesday, reaching $9.48. The company had a trading volume of 24,303 shares. Fanhua Inc. has a 1-year low of $6.79 and a 1-year high of $10.35. The firm has a market capitalization of $583.95 million, a P/E ratio of 12.14 and a beta of 1.02. The company’s 50-day moving average price is $8.77 and its 200 day moving average price is $8.76.
Fanhua (NASDAQ:FANH) last announced its quarterly earnings results on Monday, August 21st. The financial services provider reported $0.32 earnings per share (EPS) for the quarter. The business had revenue of $149.42 million during the quarter. Fanhua had a net margin of 6.08% and a return on equity of 8.96%. On average, equities analysts forecast that Fanhua Inc. will post $0.81 EPS for the current year.
Separately, ValuEngine lowered Fanhua from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th.
Fanhua Company Profile
Fanhua Inc, formerly CNinsure Inc, is an independent online-to-offline financial services provider in China. The Company distributes a range of property, casualty and life insurance products underwritten by domestic and foreign insurance companies operating in China to individual and institutional customers, and provides insurance claims adjusting services.
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