Ping An Insurance Co. of China (OTCMKTS:PNGAY) Stock Price Passes Above 50-Day Moving Average – Here’s Why

Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY)’s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $16.30 and traded as high as $17.8450. Ping An Insurance Co. of China shares last traded at $17.51, with a volume of 101,930 shares.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded Ping An Insurance Co. of China from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Ping An Insurance Co. of China Stock Up 0.3%

The stock’s 50-day moving average price is $16.30 and its 200-day moving average price is $14.86. The company has a market capitalization of $160.04 billion, a price-to-earnings ratio of 8.22 and a beta of 0.24.

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 business had revenue of $49.63 billion during the quarter. On average, equities 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.