Fanhua (NASDAQ:FANH) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Fanhua (NASDAQ:FANH) from a hold rating to a buy rating in a research report report published on Tuesday, Zacks.com reports. They currently have $8.00 price target on the financial services provider’s stock.

According to Zacks, “Fanhua Inc. is a provider of financial services. Its product and services comprises property, casualty and life insurance products and insurance claims adjusting services. The company’s online segment includes CNpad, a mobile sales support application, Baoxian.com, an online entry portal for comparing and purchasing health, accident, travel and homeowner insurance products and eHuzhu a non-profit online mutual aid. Fanhua Inc. formerly known as CNinsure Inc. is headquatered in Guangzhou, China. “

FANH opened at $7.06 on Tuesday. Fanhua has a fifty-two week low of $6.57 and a fifty-two week high of $18.80. The firm’s fifty day moving average is $10.44 and its 200 day moving average is $12.65. The stock has a market cap of $379.09 million, a price-to-earnings ratio of 8.61 and a beta of 0.52.

Fanhua (NASDAQ:FANH) last announced its quarterly earnings results on Tuesday, November 23rd. The financial services provider reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. The company had revenue of $106.08 million for the quarter. Fanhua had a net margin of 8.66% and a return on equity of 15.62%. On average, equities research analysts anticipate that Fanhua will post 0.91 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 22nd. Shareholders of record on Wednesday, December 8th were issued a $0.15 dividend. The ex-dividend date was Tuesday, December 7th. This represents a $0.60 dividend on an annualized basis and a yield of 8.50%. Fanhua’s dividend payout ratio is currently 70.73%.

A number of hedge funds and other institutional investors have recently made changes to their positions in FANH. American Century Companies Inc. bought a new stake in Fanhua in the 2nd quarter valued at $175,000. UBS Asset Management Americas Inc. bought a new stake in Fanhua in the 2nd quarter valued at $208,000. Schonfeld Strategic Advisors LLC increased its holdings in Fanhua by 3.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 22,600 shares of the financial services provider’s stock valued at $272,000 after acquiring an additional 800 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Fanhua by 21.6% in the 3rd quarter. Invesco Ltd. now owns 23,228 shares of the financial services provider’s stock worth $280,000 after buying an additional 4,127 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Fanhua in the 3rd quarter worth about $371,000. Institutional investors own 23.67% of the company’s stock.

About Fanhua

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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