Wednesday, 20 March 2019
BREAKING NEWS

China Life Insurance Co Ltd (NYSE:LFC) Shares Sold by Wetherby Asset Management Inc.

Wetherby Asset Management Inc. reduced its stake in shares of China Life Insurance Co Ltd (NYSE:LFC) by 46.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 21,041 shares of the financial services provider’s stock after selling 18,026 shares during the period. Wetherby Asset Management Inc.’s holdings in China Life Insurance were worth $239,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in LFC. Wells Fargo & Company MN raised its holdings in China Life Insurance by 79.1% during the 1st quarter. Wells Fargo & Company MN now owns 58,609 shares of the financial services provider’s stock worth $819,000 after buying an additional 25,879 shares during the period. Bank of Montreal Can acquired a new stake in shares of China Life Insurance in the second quarter valued at approximately $4,152,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of China Life Insurance by 391.5% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 50,623 shares of the financial services provider’s stock valued at $647,000 after purchasing an additional 40,323 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of China Life Insurance by 24.1% in the second quarter. First Trust Advisors LP now owns 231,323 shares of the financial services provider’s stock valued at $2,956,000 after purchasing an additional 44,905 shares during the last quarter. Finally, LMR Partners LLP acquired a new stake in shares of China Life Insurance in the second quarter valued at approximately $16,661,000. Hedge funds and other institutional investors own 0.32% of the company’s stock.

NYSE:LFC opened at $10.45 on Friday. China Life Insurance Co Ltd has a 1-year low of $9.85 and a 1-year high of $17.64. The company has a debt-to-equity ratio of 0.06, a current ratio of 9.10 and a quick ratio of 9.10. The firm has a market capitalization of $59.70 billion, a P/E ratio of 11.24, a PEG ratio of 0.63 and a beta of 1.58.

China Life Insurance (NYSE:LFC) last released 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). China Life Insurance had a net margin of 4.03% and a return on equity of 7.73%. The firm had revenue of $19.76 billion during the quarter. As a group, sell-side analysts anticipate that China Life Insurance Co Ltd will post 0.61 EPS for the current year.

A number of research firms have recently issued reports on LFC. HSBC upgraded shares of China Life Insurance from a “reduce” rating to a “hold” rating in a report on Thursday, August 9th. JPMorgan Chase & Co. downgraded shares of China Life Insurance from an “overweight” rating to a “neutral” rating in a report on Friday, August 3rd. Nomura upgraded shares of China Life Insurance from a “neutral” rating to a “buy” rating in a report on Tuesday, August 21st. Zacks Investment Research upgraded shares of China Life Insurance from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Deutsche Bank upgraded shares of China Life Insurance to a “buy” rating in a report on Tuesday. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. China Life Insurance has a consensus rating of “Hold” and an average target price of $14.93.

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China Life Insurance Profile

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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Institutional Ownership by Quarter for China Life Insurance (NYSE:LFC)

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Source: https://pressoracle.com/2018/11/23/wetherby-asset-management-inc-has-239000-stake-in-china-life-insurance-co-ltd-lfc.html

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