Ping An Insurance Co. of China (OTCMKTS:PNGAY) Shares Gap Down – Here’s Why

Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY)’s share price gapped down prior to trading on Friday. The stock had previously closed at $13.64, but opened at $13.25. Ping An Insurance Co. of China shares last traded at $13.5061, with a volume of 6,188 shares traded.

Analysts Set New Price Targets

Separately, Zacks Research downgraded shares of Ping An Insurance Co. of China from a “strong-buy” rating to a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Ping An Insurance Co. of China presently has an average rating of “Hold”.

Ping An Insurance Co. of China Stock Performance

The company has a market cap of $123.76 billion, a PE ratio of 5.73 and a beta of 0.37. 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 business has a fifty day moving average of $14.29 and a 200-day moving average of $14.83.

Ping An Insurance Co. of China (OTCMKTS:PNGAY) last released its quarterly earnings data on Thursday, August 20th. The company reported $0.98 earnings per share for the quarter. The business had revenue of $55.38 billion during the quarter. Ping An Insurance Co. of China had a return on equity of 12.93% and a net margin of 13.21%. Equities research analysts anticipate that Ping An Insurance Co. of China Ltd. will post 2.55 earnings per share for the current fiscal year.

About Ping An Insurance Co. of China

Ping An Insurance (Group) Company of China, Ltd. is a diversified financial services group headquartered in Shenzhen, China. Founded in 1988, the company has developed from an insurance provider into an integrated financial services and technology group serving individuals, businesses and institutional customers.

Its core businesses include life and health insurance, property and casualty insurance, banking, asset management and trust services. Through its insurance operations, Ping An offers products such as life, medical, accident, auto and commercial coverage.