Ping An Insurance Co. of China (OTCMKTS:PNGAY) Sees Large Volume Increase – Should You Buy?

Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY) shares saw unusually-strong trading volume on Wednesday . Approximately 1,360,996 shares traded hands during mid-day trading, an increase of 635% from the previous session’s volume of 185,144 shares.The stock last traded at $16.72 and had previously closed at $16.49.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Ping An Insurance Co. of China from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company presently has an average rating of “Strong Buy”.

Ping An Insurance Co. of China Trading Up 1.6%

The stock has a market capitalization of $153.60 billion, a price-to-earnings ratio of 7.92 and a beta of 0.26. The business has a 50-day moving average of $14.89 and a 200-day moving average of $14.01. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.49 and a current ratio of 0.48.

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 net margin of 11.89% and a return on equity of 10.48%. The firm had revenue of $49.63 billion during the quarter. As a group, research analysts forecast that Ping An Insurance Co. of China Ltd. will post 2.12 EPS for the current year.

About Ping An Insurance Co. of China

Ping An Insurance (Group) Company of China, Ltd. provides financial products and services for insurance, banking, asset management, and technology businesses in the People's Republic of China. The company operates through Life and Health Insurance; Property and Casualty Insurance; Banking; Asset Management; and Technology segments.