BidaskClub Downgrades Fanhua (FANH) to Hold

Fanhua (NASDAQ:FANH) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, BidAskClub reports.

FANH stock opened at $25.86 on Tuesday. Fanhua has a 1 year low of $19.39 and a 1 year high of $38.24. The company has a market capitalization of $1.69 billion, a P/E ratio of 17.83 and a beta of 1.49.

Fanhua (NASDAQ:FANH) last posted its earnings results on Monday, March 11th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter. Fanhua had a return on equity of 17.35% and a net margin of 17.52%. The firm had revenue of $126.82 million for the quarter.

Several hedge funds have recently modified their holdings of FANH. Alliancebernstein L.P. increased its holdings in shares of Fanhua by 100.8% during the 3rd quarter. Alliancebernstein L.P. now owns 30,720 shares of the financial services provider’s stock worth $830,000 after purchasing an additional 15,420 shares during the period. BlackRock Inc. boosted its holdings in shares of Fanhua by 89.9% in the 3rd quarter. BlackRock Inc. now owns 601,294 shares of the financial services provider’s stock worth $16,248,000 after buying an additional 284,711 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Fanhua by 3.9% in the 3rd quarter. Deutsche Bank AG now owns 566,360 shares of the financial services provider’s stock worth $15,303,000 after buying an additional 21,465 shares during the last quarter. Krane Funds Advisors LLC boosted its holdings in shares of Fanhua by 20.4% in the 3rd quarter. Krane Funds Advisors LLC now owns 632,995 shares of the financial services provider’s stock worth $17,104,000 after buying an additional 107,131 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Fanhua by 13.3% in the 3rd quarter. Morgan Stanley now owns 1,436,316 shares of the financial services provider’s stock worth $38,810,000 after buying an additional 168,172 shares during the last quarter. 30.59% of the stock is currently owned by institutional investors and hedge funds.

About Fanhua

Fanhua Inc distributes insurance products in China. It operates through two segments, Insurance Agency and Claims Adjusting. The Insurance Agency segment provides property and casualty insurance products, including automobile, individual accident, travel, disability income, commercial property, construction, and other property and casualty products; and life insurance products, such as individual health, individual whole life, individual term life, individual endowment life, and individual annuity, as well as group life and participating insurance products.

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