Fanhua (NASDAQ:FANH) Shares Down 3.2%

Fanhua Inc. (NASDAQ:FANH)’s share price traded down 3.2% during mid-day trading on Wednesday . The stock traded as low as $14.41 and last traded at $14.53. 2,051 shares traded hands during trading, a decline of 98% from the average session volume of 87,376 shares. The stock had previously closed at $15.01.

Separately, Zacks Investment Research upgraded shares of Fanhua from a “strong sell” rating to a “hold” rating in a report on Monday, May 24th.

The business has a fifty day moving average of $13.87. The stock has a market cap of $813.40 million, a PE ratio of 13.76 and a beta of 0.58.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 25th. Investors of record on Friday, June 11th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, June 10th. This represents a $0.60 annualized dividend and a dividend yield of 3.96%. Fanhua’s payout ratio is 69.88%.

A number of hedge funds have recently modified their holdings of FANH. Canada Pension Plan Investment Board boosted its holdings in shares of Fanhua by 185.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 266,900 shares of the financial services provider’s stock worth $3,718,000 after buying an additional 173,500 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its position in shares of Fanhua by 15.8% during the 1st quarter. Schonfeld Strategic Advisors LLC now owns 21,200 shares of the financial services provider’s stock valued at $296,000 after acquiring an additional 2,900 shares during the period. Goldman Sachs Group Inc. boosted its stake in Fanhua by 2.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,340,081 shares of the financial services provider’s stock worth $32,597,000 after acquiring an additional 48,771 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Fanhua by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 450,105 shares of the financial services provider’s stock worth $6,268,000 after purchasing an additional 1,622 shares during the period. Finally, Credit Suisse AG increased its stake in Fanhua by 2.8% in the first quarter. Credit Suisse AG now owns 1,127,965 shares of the financial services provider’s stock valued at $15,713,000 after purchasing an additional 30,743 shares in the last quarter. Institutional investors and hedge funds own 29.50% of the company’s stock.

About Fanhua (NASDAQ:FANH)

Fanhua Inc, together with its subsidiary, 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 that primarily include individual accident, travel, homeowner, and indemnity medical insurance products; and life insurance products, such as individual health, individual whole life, individual term life, individual endowment life, and individual annuity, as well as participating insurance products.

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