Raymond James & Associates decreased its holdings in China Life Insurance Co Ltd (NYSE:LFC) by 21.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,267 shares of the financial services provider’s stock after selling 38,759 shares during the period. Raymond James & Associates’ holdings in China Life Insurance were worth $1,949,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Cornerstone Advisors Inc. lifted its position in China Life Insurance by 57.3% during the first quarter. Cornerstone Advisors Inc. now owns 2,500 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 911 shares during the last quarter. Lindbrook Capital LLC bought a new stake in China Life Insurance during the fourth quarter valued at approximately $35,000. Parallel Advisors LLC bought a new stake in China Life Insurance during the first quarter valued at approximately $39,000. PNC Financial Services Group Inc. lifted its position in China Life Insurance by 65.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,598 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 2,210 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new stake in China Life Insurance during the fourth quarter valued at approximately $109,000. Hedge funds and other institutional investors own 0.29% of the company’s stock.
Shares of NYSE LFC opened at $11.56 on Thursday. The company has a current ratio of 8.30, a quick ratio of 8.30 and a debt-to-equity ratio of 0.15. China Life Insurance Co Ltd has a 52 week low of $9.85 and a 52 week high of $14.51. The firm has a market capitalization of $66.54 billion, a P/E ratio of 41.29, a PEG ratio of 0.34 and a beta of 1.45.
The company also recently announced an annual dividend, which will be paid on Tuesday, August 13th. Investors of record on Friday, June 7th will be paid a $0.1188 dividend. This represents a dividend yield of 0.84%. The ex-dividend date is Thursday, June 6th. China Life Insurance’s payout ratio is 32.14%.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of China Life Insurance from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. Goldman Sachs Group lowered shares of China Life Insurance from a “neutral” rating to a “sell” rating in a report on Tuesday, March 5th. ValuEngine upgraded shares of China Life Insurance from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. Finally, JPMorgan Chase & Co. upgraded shares of China Life Insurance from a “neutral” rating to an “overweight” rating in a report on Thursday, May 30th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $15.00.
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China Life Insurance Company Profile
China Life Insurance Company Limited, together with its subsidiaries, operates as a life insurance company in the People's Republic of China. It operates in four segments: Life Insurance Business, Health Insurance Business, Accident Insurance Business, and Other Businesses. The company offers individual and group life, annuity, accident, and health insurance products, as well as pension products.
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