Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  Ping An Insurance (Grp) Co of China Ltd    601318   CNE000001R84

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Ping An Insurance of China : Becomes HSBC's Strategic Shareholder

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/07/2017 | 01:54am CET
   By Joanne Chiu 
 

Ping An Insurance (Group) Co.'s (>> Ping An Insurance (Grp) Co of China Ltd) first-time disclosure that it holds a 5.01% stake in global banking giant HSBC Holdings Plc. (>> HSBC Holdings plc) highlights the Chinese insurer's attempt to boost its financial investments to improve returns.

The Hong Kong and Shanghai-listed insurer has cumulatively bought 1.02 billion shares of HSBC through the southbound Stock Connect program, which allows mainland Chinese companies to buy Hong Kong shares, making it one of HSBC's significant investors, Ping An said in a statement late Wednesday.

Ping An last week unveiled that it had boosted its stake in China's top lender Industrial & Commercial Bank of China to 8% from 7.9%, for around HK$483 million (US$61.8 million). The latest disclosure also marks a reversal of Ping An's historical relationship with the U.K. bank, which in 2012 sold its 15.6% stake in the Chinese insurer to a conglomerate controlled by Thailand's tycoon Dhanin Chearavanont for US$9.39 billion.

Ping An said that investing in HSBC is a financial investment given the bank's strong business performance and good dividend. "This complements the assets and liabilities matching principles of Ping An Asset Management's insurance funds," it said.

Write to Joanne Chiu at [email protected]

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on PING AN INSURANCE (GRP) CO
12/08DJPING AN INSURANCE OF CHINA : Chinese Insurer Ping An Becomes No. 2 Shareholder a..
12/07DJPING AN INSURANCE OF CHINA : Becomes HSBC's Strategic Shareholder
12/06 PING AN INSURANCE OF CHINA : China's Ping An takes 5 percent stake in HSBC via S..
12/05 PING AN INSURANCE OF CHINA : China's Lufax picks banks for up to $5 billion Hong..
11/28DJPING AN INSURANCE OF CHINA : Fullerton Health Wins Support After IPO Debacle -- ..
11/28DJPING AN INSURANCE OF CHINA : Continues to Add to ICBC Stake -- Market Talk
11/22 Ping An to list tech, internet units
11/20 PING AN INSURANCE OF CHINA : Lufax hits the Top 10 of The Fintech100 Globally Wi..
11/14 GREG GIBB OF LUFAX HOLDINGS : On of the Impact of Big Data and AI on the Future ..
11/10 EXCLUSIVE : Global regulators to ditch 'too big to fail' gauge for insurers - so..
More news
News from SeekingAlpha
12/02 Stocks to watch next week
11/21 Ping An Insurance Group Company Of China (PNGAY) Investor Presentation - Slid..
10/01 WEEK IN REVIEW : Another Billion Dollar Week For China Life Science Deals
08/18 Ping An Insurance (Group) Company of China Ltd. ADR 2017 Q2 - Results - Earni..
08/17 Ping An Insurance (Group) Company of China ADR reports 1H results
Financials ( CNY)
Sales 2017 676 B
EBIT 2017 113 B
Net income 2017 74 523 M
Debt 2017 -
Yield 2017 1,39%
P/E ratio 2017 17,49
P/E ratio 2018 14,48
Capi. / Sales 2017 1,88x
Capi. / Sales 2018 1,57x
Capitalization 1 270 B
Chart PING AN INSURANCE (GRP) CO
Duration : Period :
Ping An Insurance (Grp) Co Technical Analysis Chart | 601318 | CNE000001R84 | 4-Traders
Technical analysis trends PING AN INSURANCE (GRP) CO
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 73,6  CNY
Spread / Average Target 2,9%
EPS Revisions
Managers
NameTitle
Ming Zhe Ma Chairman & Chief Executive Officer
Li Ji Gu Chairman-Supervisory Board
Sin Ying Tan Chief Operating & Information Officer, Deputy GM
Bo Yao CFO, Executive Director & Deputy General Manager
Jian Yi Sun Vice Chairman & Deputy General Manager
Sector and Competitors