2318.HK - Ping An Insurance (Group) Company of China, Ltd.
| Previous close | 52.800 |
| Open | 52.550 |
| Bid | 53.400 x 0 |
| Ask | 53.450 x 0 |
| Day's range | 52.450 - 53.800 |
| 52-week range | 31.300 - 65.100 |
| Volume | |
| Avg. volume | 29,149,382 |
| Market cap | 971.672B |
| Beta (5Y monthly) | 1.01 |
| PE ratio (TTM) | 8.86 |
| EPS (TTM) | 6.030 |
| Earnings date | N/A |
| Forward dividend & yield | 3.40 (6.44%) |
| Ex-dividend date | 14 Jun 2023 |
| 1y target est | 72.49 |
ReutersHSBC puts global footprint under fresh scrutiny, considers dozen exits
LONDON (Reuters) -HSBC is reviewing a possible exit from as many as a dozen countries, or one in five of the markets it operates in, to sharpen its focus on Asian expansion, Chief Financial Officer Georges Elhedery told Reuters in his first interview since taking the role. The reviews follow pressure from Chinese shareholder Ping An Insurance, which wants HSBC to prioritise growth in Asia, where the British bank generates 78% of its total profit. "Some of these will have slower progress than others, and none of them is material enough on its own to change the profile of the overall business, but as we progress through and execute on these assessments, we do expect them to contribute towards that shift to Asia," Elhedery said, declining to disclose which markets were under review or the time frame.
ZacksHere's What Could Help Ping An Insurance Co. of China Ltd. (PNGAY) Maintain Its Recent Price Strength
Ping An Insurance Co. of China Ltd. (PNGAY) could be a solid choice for shorter-term investors looking to capitalize on the recent price trend in fundamentally sound stocks. It is one of the many stocks that passed through our shorter-term trading strategy-based screen.
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ReutersChina's Ping An Insurance posts 48.9% rise in Q1 profit
Ping An Insurance (Group) Co of China Ltd saw a 48.9% rise in first-quarter net profit as its investment income improved, China's largest insurer by market value reported on Wednesday. "The domestic economy continued to recover in the first three months of 2023, with household consumption picking up steadily," the company said in the filing. The company booked 29.7 billion yuan investment income in the first quarter this year, compared with a loss of 26.1 billion yuan a year earlier, the filing showed.
ReutersHSBC investors hold talks as proxy advisors oppose Asia spinoff
LONDON (Reuters) -HSBC's most vocal individual activist shareholder Ken Lui on Monday said he had spoken for the first time with the bank's largest investor, Ping An, about their controversial proposals to spin off the lender's Asia business. Top management executives of Ping An Asset Management, an investment unit of the Chinese insurer, exchanged views on the proposals with Lui and reaffirmed its support, Lui told Reuters in an interview on Monday. The talks were the first official engagement between Ping An and Lui, who is backed by thousands of small shareholders in Hong Kong, HSBC's largest market.
ReutersHSBC shareholder Ping An to vote for bank's break-up at annual meeting -source
HSBC's biggest shareholder Ping An is likely to vote in favour of splitting the bank up at its annual investor meeting on May 5, a source familiar with the Chinese insurer's thinking said on Monday. The source said Ping An would vote in favour of two resolutions tabled by individual investor Ken Lui, which call for HSBC to restore dividends to 51 cents per share and to provide regular updates on the possibility of spinning off its Asia business. HSBC recommended that shareholders vote against the resolutions, and has, since Ping An began urging the spinoff last November, maintained that its global presence is worth more than any such fragmentation would yield.
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ReutersHSBC activist shareholder demands AGM vote on Asia business spin-off
HSBC's most vocal minority investors are demanding a vote at the global lender's 2023 shareholder meeting in May on whether it should devise a formal plan to boost returns by spinning off its lucrative Asian business. Ken Lui, an individual HSBC shareholder and leader of a Hong Kong-based investor group calling for a break up of the bank, is one of at least 100 retail investors calling for such a vote, a letter sent to HSBC on Feb. 20 and reviewed by Reuters shows. A second proposed resolution calls on HSBC to restore pre-COVID-19 dividend levels equivalent to at least 51 cents per share annually, up from the 32 cents it paid out in 2022.
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ZacksThe Zacks Analyst Blog Highlights Ping An Insurance Co. of China, Commonwealth Bank of Australia and Tokio Marine
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ZacksIs Ping An Insurance Co. of China (PNGAY) Stock Undervalued Right Now?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
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Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
ZacksWhat Makes Ping An Insurance Co. of China Ltd. (PNGAY) a Good Fit for 'Trend Investing'
Ping An Insurance Co. of China Ltd. (PNGAY) made it through our "Recent Price Strength" screen and could be a great choice for investors looking to make a profit from stocks that are currently on the move.
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ReutersHong Kong retail shareholders revive HSBC spin-off call
A group of HSBC's Hong Kong-based retail investors are seeking support to demand the bank restore its pre-pandemic dividend and set a plan to spin off assets. HSBC "underperforms its peers, violates dividend commitments (and) ignores shareholders' interests," Ken Lui, convener of the group , said in a Thursday newspaper advertisement. London-headquartered HSBC, which is opposed to breaking up its business, dismissed the possibility of the proposal gaining traction among large shareholders.
ReutersHSBC CEO ratchets ups cost-cutting target for next year
HSBC has identified $1.7 billion of extra costs that can be stripped out next year, Chief Executive Noel Quinn said on Friday, as the bank battles to improve returns amid calls for it to be broken up by its biggest shareholder. The cuts - on top of existing targeted savings - are needed to help HSBC control costs amid high inflation, Quinn told a Financial Times conference in London, adding the bank's overall target of costs rising 2% next year remained unchanged. "That's how I'm going to deliver 2%," Quinn said.
ReutersHSBC top shareholder Ping An urges aggressive cost cuts, renews spin-off push
HONG KONG (Reuters) -HSBC Holdings' largest shareholder Ping An on Friday urged the lender to aggressively reduce costs by cutting jobs and divesting peripheral non-Asian businesses, the first such public call by the Chinese financial conglomerate. The London-headquartered bank, which makes the bulk of its sales and profit in Asia, has been under pressure from Ping An Asset Management (Ping An AM), to explore options including listing its Asian business to boost returns. Friday's statement marks Ping An AM's first public comments on the subject, three months after HSBC pushed back against separating its Asian operations saying such a move would mean a potential long-term hit to its credit rating, tax bill and operating costs.
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ReutersHSBC eyes sale of multibillion-dollar Canadian business
LONDON (Reuters) -HSBC is considering selling its business in Canada, worth billions of dollars and one of the biggest international banking brands in the country, as it looks to beef up returns as demanded by its largest shareholder. "We are currently reviewing our strategic options with respect to our wholly owned subsidiary in Canada," the bank said in an emailed statement on Tuesday. HSBC declined to comment on the potential valuation of the business, but it had assets of C$125 billion ($92 billion) as of June 30 and total equity of C$5.8 billion, according to its latest financial results.