Ping An Insurance Co. of China (OTCMKTS:PNGAY) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY) saw an uptick in trading volume on Thursday . 922,466 shares were traded during mid-day trading, an increase of 377% from the previous session’s volume of 193,349 shares.The stock last traded at $14.62 and had previously closed at $14.54.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised shares of Ping An Insurance Co. of China from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

Ping An Insurance Co. of China Stock Performance

The company has a market capitalization of $134.27 billion, a price-to-earnings ratio of 6.21 and a beta of 0.37. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a 50-day simple moving average of $14.13 and a two-hundred day simple moving average of $15.24.

Ping An Insurance Co. of China (OTCMKTS:PNGAY) last announced its quarterly earnings results on Thursday, August 20th. The company reported $0.98 earnings per share (EPS) for the quarter. The company had revenue of $55.38 billion during the quarter. Ping An Insurance Co. of China had a return on equity of 12.93% and a net margin of 13.21%. On average, sell-side analysts anticipate that Ping An Insurance Co. of China Ltd. will post 2.55 EPS for the current fiscal year.

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.