China Life Insurance (LFC) Sets New 52-Week Low on Disappointing Earnings

China Life Insurance Co Ltd (NYSE:LFC) shares hit a new 52-week low on Friday following a dissappointing earnings announcement. The company traded as low as $10.13 and last traded at $10.31, with a volume of 25294 shares. The stock had previously closed at $10.83.

The financial services provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.30). The company had revenue of $19.76 billion for the quarter. China Life Insurance had a return on equity of 11.06% and a net margin of 5.62%.

Several research firms have recently weighed in on LFC. Nomura lowered China Life Insurance from a “buy” rating to a “neutral” rating in a research note on Friday, October 5th. HSBC lowered China Life Insurance from a “hold” rating to a “reduce” rating in a research note on Thursday, September 6th. JPMorgan Chase & Co. lowered China Life Insurance from an “overweight” rating to a “neutral” rating in a research note on Friday, August 3rd. Finally, Morgan Stanley raised China Life Insurance from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, July 25th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. China Life Insurance has a consensus rating of “Hold” and an average target price of $14.93.



Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp lifted its holdings in shares of China Life Insurance by 7.4% in the second quarter. Northern Trust Corp now owns 1,736,434 shares of the financial services provider’s stock valued at $22,190,000 after purchasing an additional 119,046 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of China Life Insurance by 274.7% in the second quarter. Tower Research Capital LLC TRC now owns 7,884 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 5,780 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of China Life Insurance by 12.5% in the second quarter. Cubist Systematic Strategies LLC now owns 41,520 shares of the financial services provider’s stock valued at $531,000 after purchasing an additional 4,614 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of China Life Insurance by 20.7% in the second quarter. Raymond James & Associates now owns 172,255 shares of the financial services provider’s stock valued at $2,201,000 after purchasing an additional 29,555 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in shares of China Life Insurance by 12.9% in the second quarter. US Bancorp DE now owns 64,238 shares of the financial services provider’s stock valued at $822,000 after purchasing an additional 7,318 shares in the last quarter. Institutional investors own 0.32% of the company’s stock.

The firm has a market cap of $57.72 billion, a PE ratio of 15.01 and a beta of 1.56. The company has a quick ratio of 8.45, a current ratio of 8.45 and a debt-to-equity ratio of 0.06.

About China Life Insurance (NYSE:LFC)

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.

Further Reading: Marijuana Stocks Future Looks Bright

Receive News & Ratings for China Life Insurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Life Insurance and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply