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

Shares of Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY) passed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $13.34 and traded as low as $13.26. Ping An Insurance Co. of China shares last traded at $13.26, with a volume of 498,760 shares trading hands.

Analyst Ratings Changes

Separately, Zacks Research cut Ping An Insurance Co. of China from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 4th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company has a consensus rating of “Sell”.

Ping An Insurance Co. of China Price Performance

The firm has a fifty day moving average price of $13.34 and a two-hundred day moving average price of $14.98. The stock has a market capitalization of $121.20 billion, a P/E ratio of 9.24 and a beta of 0.33. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.47 and a current ratio of 0.46.

Ping An Insurance Co. of China (OTCMKTS:PNGAY) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.06 EPS for the quarter. The company had revenue of $25.55 billion during the quarter. Ping An Insurance Co. of China had a return on equity of 8.10% and a net margin of 9.67%. As a group, analysts expect that Ping An Insurance Co. of China Ltd. will post 2.19 EPS 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 founded in Shenzhen in 1988. Its businesses include life and health insurance, property and casualty insurance, banking, securities, and asset management. The company also provides healthcare and technology-related services, including digital platforms that connect customers with financial and medical services. Its operations are centered in mainland China, with additional business in markets such as Hong Kong.