Fanhua (FANH) Sees Large Volume Increase
Fanhua Inc. (NASDAQ:FANH) shares saw strong trading volume on Monday . 1,333,100 shares traded hands during trading, an increase of 989% from the previous session’s volume of 122,449 shares.The stock last traded at $24.57 and had previously closed at $22.22.
Separately, ValuEngine lowered shares of Fanhua from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd.
The stock has a market capitalization of $1,431.30, a P/E ratio of 26.14 and a beta of 1.35.
A number of institutional investors have recently modified their holdings of the business. Fosun International Ltd increased its stake in Fanhua by 18.1% during the 3rd quarter. Fosun International Ltd now owns 3,993,036 shares of the financial services provider’s stock valued at $50,192,000 after purchasing an additional 611,920 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Fanhua by 2.2% in the second quarter. California Public Employees Retirement System now owns 369,300 shares of the financial services provider’s stock worth $3,161,000 after acquiring an additional 8,000 shares during the period. Boston Partners increased its stake in shares of Fanhua by 42.2% in the third quarter. Boston Partners now owns 297,221 shares of the financial services provider’s stock worth $3,736,000 after acquiring an additional 88,251 shares during the period. Matthews International Capital Management LLC acquired a new stake in shares of Fanhua in the second quarter worth $1,912,000. Finally, Morgan Stanley increased its stake in shares of Fanhua by 14.3% in the first quarter. Morgan Stanley now owns 145,354 shares of the financial services provider’s stock worth $1,254,000 after acquiring an additional 18,216 shares during the period. Institutional investors and hedge funds own 15.49% of the company’s stock.
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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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