Zacks Investment Research Upgrades Ping An Insurance (Group) Company of China (OTCMKTS:PNGAY) to “Hold”

Zacks Investment Research upgraded shares of Ping An Insurance (Group) Company of China (OTCMKTS:PNGAY) from a strong sell rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

According to Zacks, “Ping An Insurance Company of China, Ltd. is engaged in providing products and services in insurance, banking and investment to retail customers and corporate clients. It offers life insurance; property and casualty insurance, including motor, property loss, liability, credit and trust, mortgage loan and individual car installment loan; health insurance comprising accident, committed governmental health insurance management, health consulting, and reinsurance; and annuity products, such as commercial supplementary pension and short-term group insurance. The company also provides trust services; products and services for investment banking, fixed earnings, assets management, securities trading, brokerage, research, and derivate products; and financial futures’ business and commodity futures’ brokerages, as well as asset hedge service, futures investment consultation, and futures training. Ping An Insurance Company of China, Ltd. is headquartered in Shenzhen, the People’s Republic of China. “

PNGAY has been the subject of several other reports. Sanford C. Bernstein started coverage on Ping An Insurance (Group) Company of China in a report on Wednesday, November 17th. They issued an outperform rating for the company. JPMorgan Chase & Co. downgraded Ping An Insurance (Group) Company of China from an overweight rating to a neutral rating in a report on Tuesday.

OTCMKTS PNGAY opened at $15.98 on Wednesday. Ping An Insurance has a one year low of $13.08 and a one year high of $26.67. The stock has a 50-day moving average of $14.67 and a 200 day moving average of $15.67. The company has a market capitalization of $146.01 billion, a price-to-earnings ratio of 7.10 and a beta of 0.85.

About Ping An Insurance (Group) Company of China

Ping An Insurance (Group) Company of China, Ltd. provides financial products and services for insurance, banking, asset management, and fintech and healthtech businesses in the People's Republic of China. The company's Life and Health Insurance segment offers term, whole-life, endowment, annuity, investment-linked, universal life, and health care and medical insurance to individual and corporate customers.

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