Short Interest in Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY) Drops By 69.7%

Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY) was the recipient of a large decrease in short interest in June. As of June 15th, there was short interest totaling 22,764 shares, a decrease of 69.7% from the May 31st total of 75,099 shares. Based on an average daily trading volume, of 459,517 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the company’s shares are short sold.

Ping An Insurance Co. of China Trading Down 1.5%

OTCMKTS PNGAY traded down $0.20 during trading on Friday, reaching $13.06. 368,055 shares of the stock traded hands, compared to its average volume of 232,437. Ping An Insurance Co. of China has a fifty-two week low of $12.60 and a fifty-two week high of $18.92. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.60. The firm has a market cap of $119.37 billion, a price-to-earnings ratio of 6.49 and a beta of 0.32. The stock’s 50-day moving average price is $15.27 and its 200 day moving average price is $16.36.

Ping An Insurance Co. of China (OTCMKTS:PNGAY) last posted its earnings results on Tuesday, April 28th. The company reported $0.62 earnings per share for the quarter. The company had revenue of $34.43 billion for the quarter. Ping An Insurance Co. of China had a net margin of 11.80% and a return on equity of 10.91%. Analysts predict that Ping An Insurance Co. of China will post 2.33 EPS for the current year.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Ping An Insurance Co. of China from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Ping An Insurance Co. of China has an average rating of “Hold”.

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.