Ping An Insurance Co. of China (OTCMKTS:PNGAY) Sees Unusually-High Trading Volume – Here’s Why

Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY) saw an uptick in trading volume on Friday . 426,324 shares changed hands during mid-day trading, an increase of 120% from the previous session’s volume of 193,370 shares.The stock last traded at $14.83 and had previously closed at $15.13.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Ping An Insurance Co. of China from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. One equities research 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 Price Performance

The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.60. The firm has a market cap of $135.73 billion, a P/E ratio of 7.38 and a beta of 0.35. The firm has a 50-day simple moving average of $14.25 and a 200-day simple moving average of $15.84.

Ping An Insurance Co. of China (OTCMKTS:PNGAY) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.62 EPS for the quarter. The firm had revenue of $34.43 billion during the quarter. Ping An Insurance Co. of China had a return on equity of 10.91% and a net margin of 11.80%. As a group, analysts forecast that Ping An Insurance Co. of China Ltd. will post 2.34 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.