Invesco Ltd. lowered its position in shares of Fanhua Inc (NASDAQ:FANH) by 7.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,804 shares of the financial services provider’s stock after selling 3,750 shares during the period. Invesco Ltd. owned 0.08% of Fanhua worth $1,633,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Aperio Group LLC purchased a new stake in Fanhua in the second quarter valued at $89,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Fanhua in the second quarter valued at about $112,000. Segantii Capital Management Ltd raised its holdings in shares of Fanhua by 16.7% in the second quarter. Segantii Capital Management Ltd now owns 8,932 shares of the financial services provider’s stock valued at $299,000 after buying an additional 1,276 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Fanhua by 1.4% in the second quarter. Vanguard Group Inc. now owns 1,406,062 shares of the financial services provider’s stock valued at $47,061,000 after buying an additional 19,830 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Fanhua by 4,537.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,637 shares of the financial services provider’s stock valued at $155,000 after buying an additional 4,537 shares during the last quarter. Hedge funds and other institutional investors own 29.27% of the company’s stock.
A number of brokerages have recently commented on FANH. Zacks Investment Research lowered shares of Fanhua from a “buy” rating to a “hold” rating in a research note on Friday. BidaskClub upgraded shares of Fanhua from a “strong sell” rating to a “sell” rating in a research note on Wednesday. ValuEngine upgraded shares of Fanhua from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley assumed coverage on shares of Fanhua in a research report on Monday, July 29th. They set an “overweight” rating on the stock. Finally, CICC Research lowered shares of Fanhua from an “outperform” rating to a “neutral” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, two 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 $28.00.
FANH traded down $0.05 on Friday, hitting $26.59. 81,900 shares of the company were exchanged, compared to its average volume of 285,827. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.87 and a current ratio of 2.87. The firm has a market capitalization of $1.73 billion, a P/E ratio of 18.59 and a beta of 1.26. The business’s fifty day moving average is $25.77 and its 200 day moving average is $29.03. Fanhua Inc has a fifty-two week low of $19.39 and a fifty-two week high of $35.55.
Fanhua (NASDAQ:FANH) last posted its earnings results on Tuesday, August 20th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.13). The business had revenue of $130.87 million during the quarter. Fanhua had a net margin of 15.68% and a return on equity of 20.59%. Analysts forecast that Fanhua Inc will post 1.13 EPS for the current fiscal year.
Fanhua Company Profile
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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