Posted by ABMN Staff on Mar 2nd, 2024
Research analysts at StockNews.com initiated coverage on shares of Fanhua (NASDAQ:FANH – Get Free Report) in a research report issued on Saturday. The brokerage set a “hold” rating on the financial services provider’s stock.
Fanhua Stock Down 3.4 %
Shares of NASDAQ FANH opened at $4.50 on Friday. The company’s fifty day moving average is $5.91 and its 200-day moving average is $6.55. The stock has a market cap of $255.33 million, a price-to-earnings ratio of 4.55 and a beta of -0.05. Fanhua has a twelve month low of $4.50 and a twelve month high of $9.54.
Institutional Investors Weigh In On Fanhua
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FANH. Invesco Ltd. bought a new stake in shares of Fanhua during the 3rd quarter worth about $224,000. State Street Corp increased its position in Fanhua by 6.4% during the 2nd quarter. State Street Corp now owns 147,405 shares of the financial services provider’s stock worth $1,225,000 after purchasing an additional 8,822 shares in the last quarter. BlackRock Inc. increased its position in Fanhua by 5.0% during the 2nd quarter. BlackRock Inc. now owns 51,567 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 2,438 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Fanhua in the 2nd quarter valued at approximately $27,000. Finally, Quadrant Capital Group LLC increased its position in Fanhua by 47.3% in the 2nd quarter. Quadrant Capital Group LLC now owns 5,612 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 1,803 shares during the period. 12.16% of the stock is currently owned by institutional investors and hedge funds.
About Fanhua
Fanhua Inc, together with its subsidiary, 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 that primarily include individual accident, travel, homeowner, and indemnity medical insurance products; and life insurance products, such as individual health, individual whole life, individual term life, individual endowment life, and individual annuity, as well as participating insurance products.
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