Ping An Insurance Co. of China (OTCMKTS:PNGAY) Stock Passes Below 50-Day Moving Average – Here’s What Happened

Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY)’s share price crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $15.79 and traded as low as $15.25. Ping An Insurance Co. of China shares last traded at $15.41, with a volume of 163,001 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 report on Wednesday, May 6th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Ping An Insurance Co. of China Stock Down 1.0%

The firm has a 50 day simple moving average of $15.79 and a two-hundred day simple moving average of $16.45. The company has a market capitalization of $140.85 billion, a PE ratio of 7.66 and a beta of 0.35. 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 earnings results on Tuesday, April 28th. The company reported $0.62 earnings per share for the quarter. Ping An Insurance Co. of China had a return on equity of 10.91% and a net margin of 11.80%.The company had revenue of $34.43 billion for the quarter. Research analysts expect that Ping An Insurance Co. of China Ltd. will post 2.33 EPS 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.