Fanhua (NASDAQ:FANH) Shares Up 8.3%

Fanhua Inc (NASDAQ:FANH) shares shot up 8.3% on Wednesday . The company traded as high as $33.15 and last traded at $32.96. 664,189 shares were traded during trading, an increase of 37% from the average session volume of 484,115 shares. The stock had previously closed at $30.44.

A number of brokerages have weighed in on FANH. BidaskClub lowered shares of Fanhua from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. ValuEngine upgraded shares of Fanhua from a “hold” rating to a “buy” rating in a research note on Saturday, May 18th.

The company has a market cap of $2.14 billion, a price-to-earnings ratio of 20.45 and a beta of 1.19. The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 0.04. The business’s 50 day simple moving average is $30.13.

Fanhua (NASDAQ:FANH) last issued its quarterly earnings data on Wednesday, May 22nd. The financial services provider reported $0.39 earnings per share (EPS) for the quarter. Fanhua had a net margin of 17.41% and a return on equity of 20.08%. The firm had revenue of $144.78 million during the quarter.

The firm also recently disclosed a special dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were given a dividend of $0.30 per share. This is an increase from Fanhua’s previous special dividend of $0.25. The ex-dividend date of this dividend was Wednesday, June 5th.

Several hedge funds have recently modified their holdings of FANH. Segantii Capital Management Ltd bought a new stake in shares of Fanhua during the 1st quarter valued at $201,000. Bank of New York Mellon Corp bought a new stake in shares of Fanhua during the 4th quarter valued at $241,000. Advisor Group Inc. grew its position in shares of Fanhua by 4.3% during the 4th quarter. Advisor Group Inc. now owns 12,412 shares of the financial services provider’s stock valued at $272,000 after acquiring an additional 514 shares during the period. Stevens Capital Management LP bought a new stake in shares of Fanhua during the 1st quarter valued at $422,000. Finally, Millennium Management LLC bought a new stake in shares of Fanhua during the 4th quarter valued at $513,000. 30.88% of the stock is owned by hedge funds and other institutional investors.

Fanhua Company Profile (NASDAQ:FANH)

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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