Zacks Investment Research Lowers China Life Insurance (LFC) to Sell

Zacks Investment Research lowered shares of China Life Insurance (NYSE:LFC) from a hold rating to a sell rating in a research report sent to investors on Saturday.

According to Zacks, “China Life Insurance Company Limited is the leading life insurance company in China’s life insurance market. The Company provides products and services including individual life insurance, group life insurance, accident and health insurance. The Company is China’s largest life insurance company, a leading provider of annuity products and life insurance for both individuals and groups, and a leading provider of accident and health insurance. Through its controlling shareholding in the China Life Insurance Assets Management Co., Ltd., the Company became China’s largest insurance asset management company and one of the largest institutional investors in China. “

LFC has been the topic of several other research reports. Deutsche Bank raised China Life Insurance to a buy rating in a research note on Tuesday, November 20th. They noted that the move was a valuation call. Nomura downgraded China Life Insurance from a buy rating to a neutral rating in a research note on Friday, October 5th. HSBC raised China Life Insurance from a reduce rating to a hold rating in a research note on Thursday, August 9th. UBS Group downgraded China Life Insurance from a buy rating to a neutral rating in a research note on Monday, November 26th. Finally, JPMorgan Chase & Co. downgraded China Life Insurance from an overweight rating to a neutral rating in a research note on Friday, August 3rd. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $14.93.

Shares of China Life Insurance stock opened at $11.21 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 9.10 and a current ratio of 9.10. The firm has a market cap of $60.77 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 0.64 and a beta of 1.51. China Life Insurance has a 1-year low of $9.85 and a 1-year high of $17.32.

China Life Insurance (NYSE:LFC) last announced its earnings results on Thursday, October 25th. The financial services provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.30). The business had revenue of $19.76 billion for the quarter. China Life Insurance had a net margin of 4.03% and a return on equity of 7.73%. On average, research analysts forecast that China Life Insurance will post 0.61 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of LFC. Bank of Montreal Can acquired a new position in shares of China Life Insurance during the 2nd quarter valued at $4,152,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of China Life Insurance by 391.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 50,623 shares of the financial services provider’s stock worth $647,000 after acquiring an additional 40,323 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of China Life Insurance by 24.1% in the 2nd quarter. First Trust Advisors LP now owns 231,323 shares of the financial services provider’s stock worth $2,956,000 after acquiring an additional 44,905 shares during the last quarter. LMR Partners LLP acquired a new position in shares of China Life Insurance in the 2nd quarter worth $16,661,000. Finally, US Bancorp DE grew its holdings in shares of China Life Insurance by 12.9% in the 2nd quarter. US Bancorp DE now owns 64,238 shares of the financial services provider’s stock worth $822,000 after acquiring an additional 7,318 shares during the last quarter. Institutional investors own 0.34% of the company’s stock.

About China Life Insurance

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 in four segments: Life Insurance Business, Health Insurance Business, Accident Insurance Business, and Other Business. It offers individual and group life, annuity, accident, and health insurance products, as well as provides pension products.

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