Morgan Stanley grew its position in Fanhua Inc (NASDAQ:FANH) by 13.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,436,316 shares of the financial services provider’s stock after acquiring an additional 168,172 shares during the period. Morgan Stanley’s holdings in Fanhua were worth $38,810,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Krane Funds Advisors LLC grew its position in shares of Fanhua by 20.4% in the 3rd quarter. Krane Funds Advisors LLC now owns 632,995 shares of the financial services provider’s stock valued at $17,104,000 after acquiring an additional 107,131 shares during the period. Deutsche Bank AG boosted its holdings in shares of Fanhua by 3.9% during the 3rd quarter. Deutsche Bank AG now owns 566,360 shares of the financial services provider’s stock worth $15,303,000 after buying an additional 21,465 shares during the period. Folger Hill Asset Management LP bought a new stake in shares of Fanhua during the 3rd quarter worth about $2,067,000. Franklin Resources Inc. boosted its holdings in shares of Fanhua by 24.1% during the 3rd quarter. Franklin Resources Inc. now owns 1,352,901 shares of the financial services provider’s stock worth $36,555,000 after buying an additional 262,512 shares during the period. Finally, Credit Suisse AG boosted its holdings in shares of Fanhua by 14.0% during the 3rd quarter. Credit Suisse AG now owns 1,283,283 shares of the financial services provider’s stock worth $34,674,000 after buying an additional 157,663 shares during the period.
Separately, BidaskClub downgraded shares of Fanhua from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 17th.
Shares of FANH stock opened at $23.00 on Friday. The stock has a market cap of $1.35 billion, a P/E ratio of 15.80 and a beta of 1.45. Fanhua Inc has a 52 week low of $21.10 and a 52 week high of $38.24.
Fanhua (NASDAQ:FANH) last announced its earnings results on Tuesday, November 20th. The financial services provider reported $0.44 EPS for the quarter. The business had revenue of $114.15 million during the quarter. Fanhua had a net margin of 18.87% and a return on equity of 16.47%.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 20th. Investors of record on Wednesday, December 5th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.35%. The ex-dividend date was Tuesday, December 4th.
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Fanhua Inc distributes insurance products in China. It operates through two segments, Insurance Agency and Claims Adjusting. The Insurance Agency segment provides property and casualty insurance products, including automobile, individual accident, travel, disability income, commercial property, construction, and other property and casualty products; and life insurance products, such as individual health, individual whole life, individual term life, individual endowment life, and individual annuity, as well as group life and participating insurance products.
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