Ping An Insurance (Group) Company of China, Ltd. (OTCMKTS:PNGAY) Sees Large Drop in Short Interest

Ping An Insurance (Group) Company of China, Ltd. (OTCMKTS:PNGAY - Get Free Report) was the target of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 239,100 shares, a decline of 66.6% from the September 30th total of 716,100 shares. Based on an average daily volume of 1,325,300 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group lowered Ping An Insurance (Group) Company of China from a "buy" rating to a "hold" rating in a report on Tuesday.

Ping An Insurance (Group) Company of China Stock Down 0.6 %

Ping An Insurance (Group) Company of China stock traded down $0.08 during midday trading on Friday, reaching $12.49. The company's stock had a trading volume of 179,424 shares, compared to its average volume of 364,918. Ping An Insurance has a 52-week low of $7.60 and a 52-week high of $15.80. The stock has a market capitalization of $114.16 billion, a P/E ratio of 9.53 and a beta of 0.44. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.50 and a quick ratio of 0.51. The stock's 50-day simple moving average is $10.86 and its 200-day simple moving average is $9.86.

Ping An Insurance (Group) Company of China (OTCMKTS:PNGAY - Get Free Report) last released its earnings results on Thursday, August 22nd. The company reported $0.58 EPS for the quarter. The company had revenue of $38.42 billion during the quarter. Ping An Insurance (Group) Company of China had a net margin of 8.70% and a return on equity of 7.25%. On average, sell-side analysts expect that Ping An Insurance will post 1.93 EPS for the current year.

Ping An Insurance (Group) Company of China Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Monday, October 28th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.215 per share. The ex-dividend date of this dividend is Thursday, September 5th. Ping An Insurance (Group) Company of China's dividend payout ratio (DPR) is presently 32.82%.

About Ping An Insurance (Group) Company of China

Ping An Insurance (Group) Company of China, Ltd. provides financial products and services for insurance, banking, asset management, and technology businesses in the People's Republic of China. The company operates through Life and Health Insurance; Property and Casualty Insurance; Banking; Asset Management; and Technology segments.