Parallel Advisors LLC reduced its equity stake in China Life Insurance Company Limited (NYSE: LFC – Get a rating) by 15.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor held 8,130 shares of the financial services provider after selling 1,530 shares during the quarter. Parallel Advisors LLC’s holdings in China Life Insurance were worth $63,000 at the end of last quarter.
Other institutional investors have also recently changed their stake in the company. Envestnet Asset Management Inc. increased its stake in China Life Insurance shares by 114.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 58,866 shares of the financial services provider valued at $484,000 after buying an additional 31,402 shares last quarter. West Family Investments Inc. increased its stake in China Life Insurance by 368.0% in Q4. West Family Investments Inc. now owns 58,582 shares of the financial services provider worth $482,000 after buying an additional 46,064 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in China Life Insurance by 89.4% in Q4. O Shaughnessy Asset Management LLC now owns 20,866 shares of the financial services provider worth $172,000 after buying 9,848 additional shares in the last quarter. Strs Ohio increased its stake in China Life Insurance by 35.7% in the fourth quarter. Strs Ohio now owns 517,000 shares of the financial services provider worth $4,254,000 after buying an additional 136,000 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. increased its stake in China Life Insurance by 16.4% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 13,718 shares of the financial services provider worth $104,000 after purchasing an additional 1,935 shares in the last quarter. 8.09% of the shares are currently held by hedge funds and other institutional investors.
A Wall Street analyst gives his opinion
Separately, StockNews.com upgraded China Life Insurance shares from a “hold” to a “buy” rating in a Tuesday, July 12 research note.
Performance of life insurance stocks in China
NYSE LFC opened at $7.45 on Friday. China Life Insurance Company Limited has a 1-year minimum of $6.93 and a 1-year maximum of $9.69. The company has a debt ratio of 0.11, a current ratio of 8.91 and a quick ratio of 8.91. The stock has a market capitalization of $42.11 billion, a PE ratio of 5.30, a P/E/G ratio of 0.69 and a beta of 0.72. The company’s 50-day simple moving average is $7.82 and its two-hundred-day simple moving average is $8.01.
Life insurance in China (NYSE: LFC – Get a rating) last released its quarterly results on Wednesday, April 27. The financial services provider reported EPS of $0.43 for the quarter. The company had revenue of $55.22 billion in the quarter. Analysts expect China Life Insurance Company Limited to post earnings per share of 1.24 for the current fiscal year.
China Life Insurance cuts dividends
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. This represents a dividend yield of 4.9%. The ex-dividend date is Wednesday, July 6.
About Life Insurance in China
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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