Fanhua (NASDAQ:FANH) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of Fanhua (NASDAQ:FANH) from a hold rating to a buy rating in a research note released on Friday, March 22nd, BidAskClub reports.

Shares of FANH traded down $0.20 during mid-day trading on Friday, hitting $25.86. 82,151 shares of the company traded hands, compared to its average volume of 194,290. Fanhua has a one year low of $19.39 and a one year high of $38.24. The stock has a market capitalization of $1.69 billion, a P/E ratio of 17.90 and a beta of 1.49.

Fanhua (NASDAQ:FANH) last announced its quarterly earnings data on Monday, March 11th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter. The firm had revenue of $126.82 million for the quarter. Fanhua had a net margin of 17.52% and a return on equity of 17.35%.

The business also recently disclosed a special dividend, which was paid on Wednesday, April 3rd. Investors of record on Thursday, March 21st were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 20th.

A number of hedge funds have recently modified their holdings of the business. Bank of America Corp DE increased its stake in Fanhua by 7.7% in the 4th quarter. Bank of America Corp DE now owns 2,033,729 shares of the financial services provider’s stock valued at $44,640,000 after buying an additional 145,061 shares during the last quarter. Morgan Stanley grew its position in shares of Fanhua by 13.3% in the 3rd quarter. Morgan Stanley now owns 1,436,316 shares of the financial services provider’s stock valued at $38,810,000 after acquiring an additional 168,172 shares during the period. Franklin Resources Inc. grew its position in shares of Fanhua by 24.1% in the 3rd quarter. Franklin Resources Inc. now owns 1,352,901 shares of the financial services provider’s stock valued at $36,555,000 after acquiring an additional 262,512 shares during the period. Credit Suisse AG grew its position in shares of Fanhua by 14.0% in the 3rd quarter. Credit Suisse AG now owns 1,283,283 shares of the financial services provider’s stock valued at $34,674,000 after acquiring an additional 157,663 shares during the period. Finally, Vanguard Group Inc grew its position in shares of Fanhua by 5,475.5% in the 3rd quarter. Vanguard Group Inc now owns 1,222,045 shares of the financial services provider’s stock valued at $33,020,000 after acquiring an additional 1,200,127 shares during the period. Hedge funds and other institutional investors own 30.58% of the company’s stock.

About Fanhua

Fanhua Inc 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, including automobile, individual accident, travel, disability income, commercial property, construction, and other property and casualty products; and life insurance products, such as individual health, individual whole life, individual term life, individual endowment life, and individual annuity, as well as group life and participating insurance products.

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