Raymond James & Associates decreased its stake in shares of China Life Insurance Co Ltd (NYSE:LFC) by 21.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 145,267 shares of the financial services provider’s stock after selling 38,759 shares during the period. Raymond James & Associates’ holdings in China Life Insurance were worth $1,949,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Cornerstone Advisors Inc. boosted its holdings in shares of China Life Insurance by 57.3% during the 1st quarter. Cornerstone Advisors Inc. now owns 2,500 shares of the financial services provider’s stock worth $34,000 after buying an additional 911 shares during the period. Portland Global Advisors LLC boosted its holdings in China Life Insurance by 3.0% in the 1st quarter. Portland Global Advisors LLC now owns 60,686 shares of the financial services provider’s stock valued at $814,000 after purchasing an additional 1,750 shares during the period. Lindbrook Capital LLC boosted its holdings in China Life Insurance by 54.2% in the 1st quarter. Lindbrook Capital LLC now owns 5,207 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 1,830 shares during the period. PNC Financial Services Group Inc. boosted its holdings in China Life Insurance by 65.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,598 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 2,210 shares during the period. Finally, Parallel Advisors LLC bought a new stake in China Life Insurance in the 1st quarter valued at about $39,000. 0.29% of the stock is owned by institutional investors and hedge funds.
A number of research firms have issued reports on LFC. Zacks Investment Research downgraded shares of China Life Insurance from a “hold” rating to a “sell” rating in a report on Wednesday. JPMorgan Chase & Co. raised shares of China Life Insurance from a “neutral” rating to an “overweight” rating in a report on Thursday, May 30th. They noted that the move was a valuation call. Goldman Sachs Group raised shares of China Life Insurance from a “sell” rating to a “buy” rating in a report on Sunday. Finally, ValuEngine raised shares of China Life Insurance from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. China Life Insurance currently has a consensus rating of “Hold” and a consensus price target of $15.00.
LFC stock opened at $11.56 on Thursday. The company has a market cap of $66.54 billion, a P/E ratio of 41.29, a P/E/G ratio of 0.34 and a beta of 1.45. China Life Insurance Co Ltd has a 1 year low of $9.85 and a 1 year high of $14.51. The company has a quick ratio of 8.30, a current ratio of 8.30 and a debt-to-equity ratio of 0.15.
China Life Insurance (NYSE:LFC) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter. The business had revenue of $44.17 billion during the quarter. China Life Insurance had a net margin of 3.60% and a return on equity of 7.04%. As a group, research analysts expect that China Life Insurance Co Ltd will post 0.82 earnings per share for the current fiscal year.
The business also recently disclosed an annual dividend, which will be paid on Tuesday, August 13th. Investors of record on Friday, June 7th will be given a dividend of $0.1188 per share. This represents a yield of 0.84%. The ex-dividend date is Thursday, June 6th. China Life Insurance’s dividend payout ratio is 32.14%.
About China Life Insurance
China Life Insurance Company Limited, together with its subsidiaries, operates as a life insurance company in the People's Republic of China. It operates in four segments: Life Insurance Business, Health Insurance Business, Accident Insurance Business, and Other Businesses. The company offers individual and group life, annuity, accident, and health insurance products, as well as pension products.
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