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China's Ping An Insurance nine-month revenue falls 12.6%, profit drops 27.3%

By Reuters News


Overview

  • Chinese insurance company's nine-month revenue fell 12.6% yr/yr

  • Net profit attributable to shareholders dropped 27.3% yr/yr


Outlook

  • Company did not provide specific guidance for future quarters or full-year results in its press release


Result Drivers

  • LIFE & HEALTH INSURANCE - Co said life and health insurance business grew, with operating profit up 5.7% yr/yr

  • PROPERTY & CASUALTY PREMIUMS - Co said property and casualty premium income rose 3.5% yr/yr

  • INVESTMENT PORTFOLIO - Co said insurance funds investment portfolio grew 5.2% yr/yr


Company press release: Full Story


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

9M Revenue

RMB 787.63 bln

9M Net Profit Attributable

RMB 96.65 bln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the life & health insurance peer group is "buy"

  • Wall Street's median 12-month price target for Ping An Insurance (Group) Company of China, Ltd. is CNY75.00, about 42.6% above its October 27 closing price of CNY52.61

  • The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 6 three months ago


Reuters Recommended Reads

  • Oct 27 - HSBC shares tumble 6% after third-quarter revenue disappoints, wealth growth slows

  • Oct 27 - China's Lufax prelim Q3 net loss widens on higher credit impairment losses

  • Oct 26 - China's CITIC Securities Q3 profit falls 20.2% on weak stock market


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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