Fanhua (NASDAQ:FANH) Upgraded to Strong-Buy by Zacks Investment Research

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Zacks Investment Research upgraded shares of Fanhua (NASDAQ:FANH) from a hold rating to a strong-buy rating in a research note published on Monday, Zacks.com reports. They currently have $30.00 price objective 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. “

Several other research analysts also recently commented on FANH. ValuEngine downgraded Fanhua from a buy rating to a hold rating in a research note on Thursday, November 14th. BidaskClub upgraded Fanhua from a strong sell rating to a sell rating in a research report on Wednesday, November 6th. Finally, CICC Research cut Fanhua from an outperform rating to a neutral rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $30.00.

Shares of FANH stock opened at $26.09 on Monday. The company’s fifty day simple moving average is $26.11 and its two-hundred day simple moving average is $29.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.95 and a quick ratio of 2.95. Fanhua has a 1 year low of $19.39 and a 1 year high of $35.55. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 18.96 and a beta of 1.24.

Fanhua (NASDAQ:FANH) last posted its quarterly earnings results on Wednesday, November 20th. The financial services provider reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.08. The firm had revenue of $115.19 million during the quarter, compared to analyst estimates of $135.82 million. Fanhua had a return on equity of 20.55% and a net margin of 14.71%. Equities research analysts anticipate that Fanhua will post 1.44 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.30 per share. This is a positive change from Fanhua’s previous quarterly dividend of $0.30. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date of this dividend is Wednesday, December 4th. Fanhua’s payout ratio is 82.52%.

Hedge funds have recently modified their holdings of the stock. Aperio Group LLC bought a new stake in Fanhua during the second quarter valued at $89,000. JPMorgan Chase & Co. bought a new position in Fanhua in the 2nd quarter worth about $670,000. Quantamental Technologies LLC purchased a new stake in shares of Fanhua in the 2nd quarter valued at about $69,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Fanhua in the 2nd quarter valued at about $112,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Fanhua by 242.4% in the 2nd quarter. Renaissance Technologies LLC now owns 101,000 shares of the financial services provider’s stock valued at $3,380,000 after acquiring an additional 71,500 shares in the last quarter. Institutional investors own 28.27% of the company’s stock.

Fanhua Company Profile

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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