Fanhua (NASDAQ:FANH) Shares Gap Down to $14.53

Fanhua Inc. (NASDAQ:FANH) gapped down prior to trading on Monday . The stock had previously closed at $14.53, but opened at $14.00. Fanhua shares last traded at $13.91, with a volume of 277 shares.

Separately, Zacks Investment Research upgraded Fanhua from a “hold” rating to a “strong-buy” rating and set a $17.00 target price on the stock in a research note on Wednesday, July 21st.

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The firm has a fifty day moving average price of $14.77. The stock has a market cap of $743.68 million, a PE ratio of 13.85 and a beta of 0.55.

Fanhua (NASDAQ:FANH) last posted its quarterly earnings data on Thursday, May 27th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.14. Fanhua had a return on equity of 19.39% and a net margin of 9.89%. The firm had revenue of $167.13 million during the quarter. On average, research analysts anticipate that Fanhua Inc. will post 1.01 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 25th. Stockholders of record on Friday, June 11th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Thursday, June 10th. Fanhua’s payout ratio is currently 69.88%.

Several institutional investors and hedge funds have recently bought and sold shares of FANH. JPMorgan Chase & Co. purchased a new position in shares of Fanhua in the 4th quarter worth about $39,000. Quadrant Capital Group LLC boosted its holdings in Fanhua by 1,209.7% during the 2nd quarter. Quadrant Capital Group LLC now owns 3,366 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 3,109 shares during the period. American Century Companies Inc. purchased a new stake in Fanhua during the 2nd quarter valued at about $175,000. UBS Asset Management Americas Inc. purchased a new stake in Fanhua during the 2nd quarter valued at about $208,000. Finally, Norges Bank purchased a new stake in Fanhua during the 4th quarter valued at about $292,000. Hedge funds and other institutional investors own 29.50% of the company’s stock.

Fanhua Company Profile (NASDAQ:FANH)

Fanhua, Inc engages in the provision of online-to-offline financial services. It operates through the following business segments: Insurance Agency, Insurance Brokerage, and Claims Adjusting. The Insurance Agency segment comprises of property and casualty insurance products as well as life insurance products.

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