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 providerâ€™s stock after selling 18,026 shares during the period. Wetherby Asset Management Inc.â€™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 providerâ€™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 providerâ€™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 providerâ€™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 companyâ€™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 â€średuceâ€ť rating to a â€śholdâ€ť rating in a report on Thursday, August 9th. JPMorgan Chase & Co. downgraded shares of China Life Insurance from an â€śoverweightâ€ť rating to a â€śneutralâ€ť rating in a report on Friday, August 3rd. Nomura upgraded shares of China Life Insurance from a â€śneutralâ€ť rating to a â€śbuyâ€ť rating in a report on Tuesday, August 21st. Zacks Investment Research upgraded shares of China Life Insurance from a â€śsellâ€ť rating to a â€śholdâ€ť rating in a report on Tuesday. Finally, Deutsche Bank upgraded shares of China Life Insurance to a â€śbuyâ€ť 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 â€śHoldâ€ť 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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