PING AN INS GRP/S (PNGAY) Lifted to Strong-Buy at Zacks Investment Research

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PING AN INS GRP/S (OTCMKTS:PNGAY) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday, Zacks.com reports. The brokerage currently has a $26.00 target price on the stock. Zacks Investment Research‘s target price points to a potential upside of 13.74% from the company’s previous close.

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. “

OTCMKTS PNGAY opened at $22.86 on Thursday. PING AN INS GRP/S has a one year low of $16.93 and a one year high of $24.92. The company has a market cap of $209.13 billion, a P/E ratio of 13.14 and a beta of 1.39.

PING AN INS GRP/S (OTCMKTS:PNGAY) last released its earnings results on Tuesday, March 12th. The company reported $0.45 EPS for the quarter. PING AN INS GRP/S had a return on equity of 16.57% and a net margin of 9.92%. The business had revenue of $36.52 billion during the quarter. Analysts forecast that PING AN INS GRP/S will post 2.22 EPS for the current fiscal year.

PING AN INS GRP/S Company Profile

Ping An Insurance (Group) Company of China, Ltd. provides various financial products and services focusing on insurance, banking, asset management, and fintech and healthtech businesses in 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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