CAPROCK Group Inc. reduced its stake in China Life Insurance Company Limited (NYSE: LFC – Get an assessment) by 41.8% in the 1st quarter, Holdings Channel.com reports. The company held 18,637 shares of the financial services provider after selling 13,369 shares during the quarter. CAPROCK Group Inc.’s holdings in China Life Insurance were worth $141,000 when it last filed with the SEC.
A number of other institutional investors have also recently changed their positions in LFC. Veriti Management LLC increased its position in China Life Insurance by 198.8% in Q1. Veriti Management LLC now owns 35,528 shares of the financial services provider valued at $270,000 after purchasing an additional 23,639 shares in the last quarter. Fieldpoint Private Securities LLC increased its holdings of China Life Insurance shares by 16.0% in the first quarter. Fieldpoint Private Securities LLC now owns 11,160 shares of the financial services provider valued at $85,000 after buying an additional 1,540 shares in the last quarter. West Family Investments Inc. increased its holdings of China Life Insurance shares by 368.0% in the fourth quarter. West Family Investments Inc. now owns 58,582 shares of the financial services provider valued at $482,000 after buying an additional 46,064 shares in the last quarter. Freestone Capital Holdings LLC acquired a new position in China Life Insurance in Q4 for a value of approximately $109,000. Finally, LMR Partners LLP increased its position in China Life Insurance by 668.2% in the 4th quarter. LMR Partners LLP now owns 330,322 shares of the financial services provider valued at $2,737,000 after acquiring an additional 287,321 shares last quarter. Institutional investors hold 8.09% of the company’s shares.
LFC opened at $8.54 on Monday. The company’s 50-day simple moving average is $7.52 and its two-hundred-day simple moving average is $8.05. The company has a debt ratio of 0.11, a quick ratio of 8.91 and a current ratio of 8.91. The stock has a market capitalization of $48.28 billion, a P/E ratio of 6.06, a P/E/G ratio of 0.79 and a beta of 0.87. China Life Insurance Company Limited has a 52-week low of $6.93 and a 52-week high of $10.22.
Life insurance in China (NYSE: LFC – Get an assessment) last released its quarterly earnings data on Wednesday, April 27. The financial services provider reported earnings per share of $0.43 for the quarter. China Life Insurance posted a net margin of 6.41% and a return on equity of 11.13%. The company posted revenue of $55.22 billion for the quarter. Research analysts expect China Life Insurance Company Limited to post EPS of 1.23 for the current fiscal year.
The company also recently declared an annual dividend, which will be paid on Thursday, September 1. Shareholders of record on Thursday, July 7 will receive a dividend of $0.4847. The ex-dividend date is Wednesday, July 6. This represents a dividend yield of 4.9%.
Separately, StockNews.com upgraded China Life Insurance from a “buy” rating to a “hold” rating in a research note on Saturday.
Profile of life insurance in China (Get an assessment)
China Life Insurance Company Limited, together with its subsidiaries, operates as a life insurance company in the People’s Republic of China. The Company operates through four segments: life insurance business, health insurance business, accident insurance business and other business. It offers critical illness insurance, annuity, children’s/women’s/retirement insurance, security, life insurance, medical insurance and accident insurance.
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