Yuanbao (NASDAQ:YB) Shares Gap Up After Dividend Announcement

Yuanbao Inc. – Sponsored ADR (NASDAQ:YB)’s stock price gapped up prior to trading on Wednesday after the company announced a dividend. The stock had previously closed at $14.57, but opened at $16.97. Yuanbao shares last traded at $16.5310, with a volume of 51,746 shares traded.

The newly announced dividend which will be paid on Tuesday, July 28th. Shareholders of record on Thursday, July 2nd will be issued a $1.26 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a yield of 766.0%.

Wall Street Analyst Weigh In

Several research firms have weighed in on YB. Citigroup began coverage on Yuanbao in a report on Monday, February 23rd. They issued a “neutral” rating and a $21.80 target price on the stock. Weiss Ratings lowered Yuanbao from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen lowered Yuanbao from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Yuanbao has an average rating of “Hold” and an average target price of $21.80.

Yuanbao Stock Down 4.2%

The company has a market cap of $727.14 million, a price-to-earnings ratio of 3.90 and a beta of 0.46. The company has a fifty day simple moving average of $16.09 and a two-hundred day simple moving average of $18.55.

Institutional Trading of Yuanbao

Large investors have recently made changes to their positions in the stock. Royal Bank of Canada acquired a new stake in shares of Yuanbao during the first quarter valued at $72,000. Federated Hermes Inc. acquired a new stake in shares of Yuanbao during the second quarter valued at $370,000. JPMorgan Chase & Co. acquired a new stake in shares of Yuanbao during the second quarter valued at $454,000. Barclays PLC boosted its stake in shares of Yuanbao by 68.7% during the fourth quarter. Barclays PLC now owns 41,988 shares of the company’s stock valued at $851,000 after acquiring an additional 17,105 shares during the last quarter. Finally, Franchise GP Ltd acquired a new stake in shares of Yuanbao during the fourth quarter valued at $1,351,000.

About Yuanbao

Our mission is to protect health and well-being through technology. We are a leading technology-driven online insurance distributor in China. We take pride in pioneering the seamless integration of insurance with cutting-edge technologies, and have constructed a highly efficient full consumer service cycle engine. Through this engine, we successfully distribute suitable and high-quality insurance products to over ten million insurance consumers. According to Frost & Sullivan, we were the largest independent insurance distributor in China’s personal life and accident & health (A&H) insurance market in terms of first year premiums in 2023.