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

Shares of Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY) gapped down before the market opened on Wednesday . The stock had previously closed at $15.49, but opened at $14.75. Ping An Insurance Co. of China shares last traded at $14.69, with a volume of 9,658 shares changing hands.

Wall Street Analysts Forecast Growth

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

Ping An Insurance Co. of China Price Performance

The company’s 50 day moving average price is $15.73 and its 200-day moving average price is $16.45. The company has a market capitalization of $133.26 billion, a PE ratio of 7.25 and a beta of 0.32. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.60.

Ping An Insurance Co. of China (OTCMKTS:PNGAY) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.62 earnings per share (EPS) for the quarter. Ping An Insurance Co. of China had a net margin of 11.80% and a return on equity of 10.91%. The company had revenue of $34.43 billion during the quarter. On average, sell-side analysts forecast that Ping An Insurance Co. of China Ltd. will post 2.33 earnings per share for the current fiscal 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.