Ping An Insurance Co. of China (OTCMKTS:PNGAY) Reaches New 1-Year High – Still a Buy?

Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $18.80 and last traded at $18.49, with a volume of 30296 shares. The stock had previously closed at $18.0656.

Analyst Upgrades and Downgrades

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

Ping An Insurance Co. of China Trading Up 2.6%

The company has a market cap of $169.33 billion, a P/E ratio of 8.70 and a beta of 0.24. The company’s 50-day moving average price is $16.59 and its two-hundred day moving average price is $15.04.

Ping An Insurance Co. of China (OTCMKTS:PNGAY) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.99 EPS for the quarter. The business had revenue of $49.63 billion during the quarter. Ping An Insurance Co. of China had a return on equity of 10.48% and a net margin of 11.89%. As a group, analysts anticipate that Ping An Insurance Co. of China Ltd. will post 2.12 earnings per share for the current year.

About Ping An Insurance Co. of China

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.