Ping An Insurance Co. of China (OTCMKTS:PNGAY) Sees Strong Trading Volume – Time to Buy?

Shares of Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY) saw unusually-strong trading volume on Tuesday . Approximately 539,331 shares were traded during mid-day trading, an increase of 156% from the previous session’s volume of 210,495 shares.The stock last traded at $17.8550 and had previously closed at $17.8170.

Analyst Ratings Changes

Separately, Zacks Research lowered shares of Ping An Insurance Co. of China from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Ping An Insurance Co. of China Stock Performance

The firm has a market cap of $163.15 billion, a P/E ratio of 8.38 and a beta of 0.24. The firm’s fifty day moving average price is $15.98 and its 200 day moving average price is $14.66.

Ping An Insurance Co. of China (OTCMKTS:PNGAY) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.99 earnings per share for the quarter. Ping An Insurance Co. of China had a return on equity of 10.48% and a net margin of 11.89%.The company had revenue of $49.63 billion during the quarter. As a group, analysts expect that Ping An Insurance Co. of China Ltd. will post 2.12 earnings per share for the current fiscal year.

Ping An Insurance Co. of China Company Profile

Ping An Insurance Company of China, Ltd., commonly known as Ping An, is a diversified financial services conglomerate headquartered in Shenzhen, China. Founded in 1988 as one of the country’s first joint-stock insurance companies, Ping An has developed broad capabilities across life insurance, property and casualty insurance, health insurance and annuity products. The company serves individual and corporate customers with a range of protection and savings products, including life policies, auto and property coverage, commercial insurance solutions and retirement-oriented offerings.

Beyond traditional insurance underwriting, Ping An operates an integrated financial services platform that includes retail and corporate banking, asset and wealth management, securities brokerage and investment services.