According to Zacks, “China Life Insurance’s strength lays in its robust market position and organic growth initiatives. Product upgrades and growth in premiums over last few quarters are also considered as a result of its operational efficiency. The company has consistently witnessed significant improvement in its life insurance business, individual agent channel, group insurance channel and also bancassurance channel during the initial quarters 2016. An extensive distribution and service network has established it one of the leading insurance companies in China. However, the persistently soft interest rate has resulted in lower investment income, which in turn, has limited profit. The impact of the change of discount rate assumption of reserves of traditional insurance contracts also contributed to the pressure on bottom line. Increasing operating expenses and currency risks also remain other headwinds.”
Separately, HSBC upgraded shares of China Life Insurance from a reduce rating to a hold rating in a report on Tuesday.
Shares of China Life Insurance (NYSE:LFC) traded down 1.34% during trading on Wednesday, hitting $13.27. The stock had a trading volume of 120,347 shares. The company has a market capitalization of $75.02 billion, a P/E ratio of 37.91 and a beta of 1.24. The firm has a 50-day moving average of $12.66 and a 200 day moving average of $11.66. China Life Insurance has a 1-year low of $10.07 and a 1-year high of $21.00.
Several institutional investors have recently made changes to their positions in the stock. M&T Bank Corp increased its stake in China Life Insurance by 2.7% in the first quarter. M&T Bank Corp now owns 15,920 shares of the company’s stock valued at $196,000 after buying an additional 421 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of China Life Insurance by 0.7% in the first quarter. Franklin Resources Inc. now owns 642,999 shares of the company’s stock worth $7,903,000 after buying an additional 4,766 shares during the last quarter. Moore Capital Management LP purchased a new stake in shares of China Life Insurance during the first quarter worth about $12,290,000. BlackRock Inc. increased its stake in shares of China Life Insurance by 5.0% in the first quarter. BlackRock Inc. now owns 119,529 shares of the company’s stock worth $1,469,000 after buying an additional 5,702 shares during the last quarter. Finally, Natixis purchased a new stake in shares of China Life Insurance during the first quarter worth about $362,000. Hedge funds and other institutional investors own 0.27% of the company’s stock.
About China Life Insurance
China Life Insurance Company Limited is a life insurance company. The Company provides a range of insurance products, including individual and group life insurance, health insurance and accident insurance products. It operates through four segments: life insurance, health insurance, accident insurance and other.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for China Life Insurance Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Life Insurance Co. and related companies with MarketBeat.com's FREE daily email newsletter.