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

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

Wall Street Analyst Weigh In

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

Ping An Insurance Co. of China Stock Up 2.6%

The company has a market capitalization of $169.33 billion, a P/E ratio of 8.70 and a beta of 0.24. The business has a 50 day simple moving average of $16.59 and a 200-day simple moving average of $15.04.

Ping An Insurance Co. of China (OTCMKTS:PNGAY) last released 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 net margin of 11.89% and a return on equity of 10.48%. Equities analysts forecast that Ping An Insurance Co. of China Ltd. will post 2.12 EPS for the current fiscal 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.