Ping An Insurance Co. of China (OTCMKTS:PNGAY) Shares Gap Up – Time to Buy?

Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY) shares gapped up before the market opened on Friday . The stock had previously closed at $14.38, but opened at $14.80. Ping An Insurance Co. of China shares last traded at $14.9860, with a volume of 49,693 shares.

Analysts Set New Price Targets

Separately, Zacks Research cut 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 company has a market cap of $136.28 billion, a price-to-earnings ratio of 7.00 and a beta of 0.24. The business has a 50-day simple moving average of $17.24 and a 200-day simple moving average of $15.90.

Ping An Insurance Co. of China (OTCMKTS:PNGAY) last announced its quarterly earnings data on Thursday, March 26th. The company reported $0.03 earnings per share (EPS) 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 business had revenue of $33.66 billion during the quarter. Research analysts anticipate that Ping An Insurance Co. of China Ltd. will post 2.12 EPS for the current 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.