Zacks Investment Research upgraded shares of China Life Insurance (NYSE:LFC) from a hold rating to a buy rating in a report published on Thursday, Zacks.com reports. The brokerage currently has $15.00 price target on the financial services provider’s stock.
According to Zacks, “China Life Insurance Company Limited is the leading life insurance company in China’s life insurance market. The Company provides products and services including individual life insurance, group life insurance, accident and health insurance. The Company is China’s largest life insurance company, a leading provider of annuity products and life insurance for both individuals and groups, and a leading provider of accident and health insurance. Through its controlling shareholding in the China Life Insurance Assets Management Co., Ltd., the Company became China’s largest insurance asset management company and one of the largest institutional investors in China. “
LFC has been the topic of a number of other research reports. ValuEngine raised shares of China Life Insurance from a strong sell rating to a sell rating in a research note on Saturday, January 18th. CLSA raised shares of China Life Insurance from an underperform rating to an outperform rating in a research note on Monday, January 6th. Finally, Citigroup raised shares of China Life Insurance from a reduce rating to a hold rating and upped their price target for the company from $17.90 to $20.30 in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. China Life Insurance has an average rating of Hold and a consensus price target of $17.65.
China Life Insurance stock traded down $0.22 during mid-day trading on Thursday, reaching $13.00. 552,575 shares of the company’s stock traded hands, compared to its average volume of 377,386. The company has a market cap of $74.73 billion, a price-to-earnings ratio of 10.33 and a beta of 1.53. The stock has a 50 day moving average of $13.73 and a two-hundred day moving average of $12.68. The company has a quick ratio of 8.71, a current ratio of 8.71 and a debt-to-equity ratio of 0.14. China Life Insurance has a 12-month low of $11.08 and a 12-month high of $14.70.
China Life Insurance (NYSE:LFC) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter. The company had revenue of $23.78 billion for the quarter. China Life Insurance had a net margin of 7.02% and a return on equity of 13.47%. As a group, sell-side analysts forecast that China Life Insurance will post 1.63 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of LFC. Parametric Portfolio Associates LLC increased its position in China Life Insurance by 8.5% during the third quarter. Parametric Portfolio Associates LLC now owns 907,346 shares of the financial services provider’s stock valued at $10,453,000 after acquiring an additional 71,018 shares during the last quarter. Banco de Sabadell S.A bought a new position in China Life Insurance during the third quarter valued at $695,000. Bank of America Corp DE increased its position in China Life Insurance by 6.4% during the second quarter. Bank of America Corp DE now owns 446,070 shares of the financial services provider’s stock valued at $5,517,000 after acquiring an additional 26,799 shares during the last quarter. Atlas Capital Advisors LLC grew its holdings in shares of China Life Insurance by 879.5% in the third quarter. Atlas Capital Advisors LLC now owns 26,436 shares of the financial services provider’s stock worth $305,000 after purchasing an additional 23,737 shares during the last quarter. Finally, AMP Capital Investors Ltd bought a new position in shares of China Life Insurance in the second quarter worth about $252,000. Institutional investors and hedge funds own 0.28% of the company’s stock.
About China Life Insurance
China Life Insurance Company Limited, together with its subsidiaries, operates as a life insurance company in the People's Republic of China. It operates in four segments: Life Insurance Business, Health Insurance Business, Accident Insurance Business, and Other Businesses. The company offers individual and group life, annuity, accident, and health insurance products, as well as pension products.
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