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 company’s 50 day moving average price is $13.87. The firm has a market capitalization of $813.40 million, a P/E 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. Shareholders of record on Friday, June 11th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, June 10th. This represents a $0.60 dividend on an annualized basis and a yield of 3.96%. Fanhua’s payout ratio is currently 69.88%.

Institutional investors have recently bought and sold shares of the business. Canada Pension Plan Investment Board grew its position 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 during the period. BlackRock Inc. grew its holdings in Fanhua by 10.7% in the first quarter. BlackRock Inc. now owns 982,261 shares of the financial services provider’s stock worth $13,682,000 after purchasing an additional 94,675 shares during the period. Goldman Sachs Group Inc. increased its stake in Fanhua by 2.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,340,081 shares of the financial services provider’s stock valued at $32,597,000 after purchasing an additional 48,771 shares in the last quarter. Morgan Stanley increased its stake in Fanhua by 2.0% in the fourth quarter. Morgan Stanley now owns 1,644,428 shares of the financial services provider’s stock valued at $19,799,000 after purchasing an additional 32,431 shares in the last quarter. 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. Hedge funds and other institutional investors 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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