Ping An Insurance Co. of China (OTCMKTS:PNGAY) Shares Gap Up – Here’s Why

Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY) shares gapped up prior to trading on Tuesday . The stock had previously closed at $17.21, but opened at $18.0999. Ping An Insurance Co. of China shares last traded at $17.93, with a volume of 13,146 shares.

Wall Street Analyst Weigh In

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

Ping An Insurance Co. of China Stock Performance

The company has a 50 day moving average of $16.59 and a 200 day moving average of $15.04. The stock has a market capitalization of $170.28 billion, a price-to-earnings ratio of 8.75 and a beta of 0.24.

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

About Ping An Insurance Co. of China

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.