Ping An Insurance Co. of China (OTCMKTS:PNGAY) Shares Gap Down – Here’s Why
by Mitch Edgeman · The Markets DailyPing An Insurance Co. of China Ltd. (OTCMKTS:PNGAY – Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $15.45, but opened at $14.76. Ping An Insurance Co. of China shares last traded at $15.0937, with a volume of 15,947 shares changing hands.
Analyst Upgrades and Downgrades
Separately, Zacks Research cut Ping An Insurance Co. of China from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.
Read Our Latest Stock Report on Ping An Insurance Co. of China
Ping An Insurance Co. of China Stock Down 2.8%
The company’s 50 day simple moving average is $17.46 and its 200-day simple moving average is $15.90. The firm has a market cap of $137.28 billion, a P/E ratio of 7.05 and a beta of 0.24.
Ping An Insurance Co. of China Company Profile
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.