Yuanbao Inc. – Sponsored ADR (NASDAQ:YB – Get Free Report) shares dropped 6.1% on Thursday . The stock traded as low as $16.17 and last traded at $15.8210. Approximately 20,834 shares traded hands during trading, a decline of 56% from the average daily volume of 47,406 shares. The stock had previously closed at $16.84.
Wall Street Analysts Forecast Growth
YB has been the subject of several analyst reports. Wall Street Zen downgraded Yuanbao from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings lowered shares of Yuanbao from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Finally, Citigroup initiated coverage on shares of Yuanbao in a research report on Monday, February 23rd. They issued a “neutral” rating and a $21.80 target price on the stock. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $21.80.
Check Out Our Latest Analysis on YB
Yuanbao Trading Down 3.1%
Yuanbao Dividend Announcement
The business also recently disclosed an annual dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Thursday, July 2nd will be paid a $1.26 dividend. This represents a yield of 766.0%. The ex-dividend date is Thursday, July 2nd.
Institutional Investors Weigh In On Yuanbao
Institutional investors have recently modified their holdings of the stock. Susquehanna International Group LLP purchased a new position in shares of Yuanbao during the 3rd quarter valued at $59,613,000. WFM ASIA BVI Ltd raised its holdings in shares of Yuanbao by 89.9% during the third quarter. WFM ASIA BVI Ltd now owns 182,500 shares of the company’s stock worth $3,584,000 after acquiring an additional 86,414 shares in the last quarter. Franchise GP Ltd acquired a new stake in Yuanbao during the fourth quarter valued at $1,351,000. Barclays PLC boosted its position in Yuanbao by 68.7% during the fourth quarter. Barclays PLC now owns 41,988 shares of the company’s stock valued at $851,000 after purchasing an additional 17,105 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Yuanbao by 53.7% in the third quarter. JPMorgan Chase & Co. now owns 33,226 shares of the company’s stock valued at $653,000 after purchasing an additional 11,607 shares in the last quarter.
About Yuanbao
Our mission is to protect health and well-being through technology. We are a leading technology-driven online insurance distributor in China. We take pride in pioneering the seamless integration of insurance with cutting-edge technologies, and have constructed a highly efficient full consumer service cycle engine. Through this engine, we successfully distribute suitable and high-quality insurance products to over ten million insurance consumers. According to Frost & Sullivan, we were the largest independent insurance distributor in China’s personal life and accident & health (A&H) insurance market in terms of first year premiums in 2023.
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