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Multiple favorable support! Insurance stocks welcome valuation repairs
The Zhitong Finance App learned that since the end of 2020, the insurance stock market has entered a downward channel due to the transformation of life insurance agent channels, falling premiums for new policies, and a slump in the capital market. However, since mid-April 2023, the insurance sector has shown a strong recovery momentum, reversing the previous decline. The rise in insurance stocks is mainly due to policy incentives. Recently, the People's Bank of China issued three major notices, and the real estate policy that the market has been looking forward to for a long time has been implemented. Including adjusting the minimum down payment ratio for the first housing commercial loan to no less than 15%, adjusting the ratio for the second to not less than 25%; lowering the interest rate for personal housing provident fund loans by 0.25 percent
ICBC (01398.HK) gains 9.157 million shares from Ping An Asset Management
Glonghui, May 24 | According to the latest equity disclosure data from the Stock Exchange, on May 23, 2024, ICBC (01398.HK) obtained Ping An Asset Management Co., Ltd. increased its holdings by 9.157 million shares at an average price of HK$4.6958 per share on the market, involving approximately HK$42.994 million. After the increase in holdings, Ping An Asset Management Co., Ltd. recently held 12,155,937,000 shares, and the shareholding ratio increased from 13.99% to 12,155,937,000 shares
Dongwu Securities: New insurance policies faced high base growth pressure in April, and the decline in banking insurance is expected to gradually narrow
Although individual insurance channels have faced high business base pressure since the beginning of the year, the new orders showed resilience against the backdrop of poor competitive financial management performance during the same period.
Big Bank Ratings丨Jefferies: Predicting mixed results for China's life insurance stocks in the next quarter, favoring Ping An of China
Jefferies released a report saying that China's life insurance stocks have risen 20% to 40% since this year, benefiting from stabilizing interest rates and improving market sentiment. However, the bank is wary of the remaining structural challenges in the industry and urges investors to remain selective. The industry's profit for the next quarter may improve year over year, but the value of the new business is facing a high base. The bank predicts that China's life insurance stocks will perform mixed in the next quarter. The low base of seasonal dividend income and stock profit will drive the quarterly and yearly recovery of investment income and profits, but the high base from May to July will drag down negative growth in the value of new businesses. The bank favors Ping An of China, which is based on lower valuations, stronger underwriting profitability and investment
Ping An Insurance Buys Back Shares for Incentive Scheme
Ping An Insurance (SHA:601318, HKG:2318) repurchased 3.7 million Shanghai-listed shares for 157.5 million yuan as part of the group's employee incentive scheme, a Tuesday filing on the Hong Kong bours
Nomura Adjusts Ping An Insurance (Group)'s Price Target to HK$60.86 From HK$54.41, Keeps at Buy
03:00 AM EDT, 05/22/2024 (MT Newswires) -- Nomura Adjusts Ping An Insurance (Group)'s Price Target to HK$60.86 From HK$54.41, Keeps at Buy Price (HKD): $44.40, Change: $+0.10, Percent Change: +0.23%
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104998465 : Moved almost 30% from lows, give some time before next big push…
WinningTrader 104998465: Yes moved up quite abit from the lows. From the chart, doesn't looks good in short term.
Let's see.
DYDD.