Ping An Insurance Co. of China (OTCMKTS:PNGAY) Stock Price Crosses Above 50 Day Moving Average – Time to Sell?

Shares of Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $17.02 and traded as high as $18.19. Ping An Insurance Co. of China shares last traded at $17.96, with a volume of 130,700 shares.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut shares of Ping An Insurance Co. of China from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Ping An Insurance Co. of China presently has a consensus rating of “Hold”.

Ping An Insurance Co. of China Stock Down 1.4%

The firm has a market capitalization of $164.16 billion, a P/E ratio of 8.43 and a beta of 0.23. The business’s 50 day moving average is $17.02 and its two-hundred day moving average is $15.23.

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.