Ping An Insurance Co. of China (OTCMKTS:PNGAY) Shares Gap Up – Time to Buy?

Shares of Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY) gapped up before the market opened on Tuesday . The stock had previously closed at $17.21, but opened at $18.0999. Ping An Insurance Co. of China shares last traded at $17.93, with a volume of 13,146 shares.

Analyst Ratings Changes

Separately, Zacks Research lowered Ping An Insurance Co. of China from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 30th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Ping An Insurance Co. of China has a consensus rating of “Hold”.

Ping An Insurance Co. of China Trading Up 2.5%

The company has a 50 day simple moving average of $16.47 and a 200 day simple moving average of $14.99. The stock has a market cap of $163.79 billion, a P/E ratio of 8.41 and a beta of 0.24.

Ping An Insurance Co. of China (OTCMKTS:PNGAY) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.99 EPS for the quarter. The company had revenue of $49.63 billion during the quarter. Ping An Insurance Co. of China had a net margin of 11.89% and a return on equity of 10.48%. As a group, sell-side analysts expect that Ping An Insurance Co. of China Ltd. will post 2.12 earnings per share for the current year.

About Ping An Insurance Co. of China

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.