Zacks Investment Research Upgrades China Life Insurance (NYSE:LFC) to Buy


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Zacks Investment Research upgraded shares of China Life Insurance (NYSE:LFC) from a hold rating to a buy rating in a research report released on Thursday morning, Zacks.com reports. The brokerage currently has $11.00 price objective on the financial services provider’s stock.

According to Zacks, “China Life Insurance Company Limited is the leading life insurance company in China’s life insurance market. The Company provides products and services including individual life insurance, group life insurance, accident and health insurance. The Company is China’s largest life insurance company, a leading provider of annuity products and life insurance for both individuals and groups, and a leading provider of accident and health insurance. Through its controlling shareholding in the China Life Insurance Assets Management Co., Ltd., the Company became China’s largest insurance asset management company and one of the largest institutional investors in China. “

Shares of LFC opened at $10.04 on Thursday. The stock has a market capitalization of $56.76 billion, a price-to-earnings ratio of 8.37 and a beta of 1.25. China Life Insurance has a 1 year low of $9.05 and a 1 year high of $13.63. The business’s 50 day simple moving average is $10.52 and its 200-day simple moving average is $11.07. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.79 and a quick ratio of 8.79.

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in shares of China Life Insurance by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,366,455 shares of the financial services provider’s stock worth $15,113,000 after acquiring an additional 5,992 shares during the last quarter. Credit Suisse AG lifted its position in China Life Insurance by 8.3% during the fourth quarter. Credit Suisse AG now owns 1,034,149 shares of the financial services provider’s stock worth $11,438,000 after buying an additional 79,000 shares in the last quarter. JPMorgan Chase & Co. lifted its position in China Life Insurance by 0.6% during the third quarter. JPMorgan Chase & Co. now owns 411,270 shares of the financial services provider’s stock worth $4,635,000 after buying an additional 2,565 shares in the last quarter. Fosun International Ltd purchased a new stake in China Life Insurance in the fourth quarter valued at $3,670,000. Finally, First Trust Advisors LP raised its position in China Life Insurance by 31.9% in the fourth quarter. First Trust Advisors LP now owns 206,073 shares of the financial services provider’s stock valued at $2,279,000 after purchasing an additional 49,876 shares during the period. 0.24% of the stock is currently owned by institutional investors.

About China Life Insurance

China Life Insurance Company Limited, together with its subsidiaries, operates as a life insurance company in the People's Republic of China. It operates in four segments: Life Insurance Business, Health Insurance Business, Accident Insurance Business, and Other Businesses. The company offers individual and group life, annuity contracts, accident, and health insurance products.

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