China Life Insurance Co Ltd (LFC) Stake Lessened by Bank of Montreal Can

Bank of Montreal Can lowered its stake in shares of China Life Insurance Co Ltd (NYSE:LFC) by 52.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,191 shares of the financial services provider’s stock after selling 171,670 shares during the period. Bank of Montreal Can’s holdings in China Life Insurance were worth $1,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in LFC. Tower Research Capital LLC TRC increased its position in China Life Insurance by 274.7% in the second quarter. Tower Research Capital LLC TRC now owns 7,884 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 5,780 shares during the last quarter. Suntrust Banks Inc. bought a new stake in China Life Insurance in the first quarter worth $150,000. Cubist Systematic Strategies LLC increased its position in China Life Insurance by 12.5% in the second quarter. Cubist Systematic Strategies LLC now owns 41,520 shares of the financial services provider’s stock worth $531,000 after purchasing an additional 4,614 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in China Life Insurance by 391.5% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 50,623 shares of the financial services provider’s stock worth $647,000 after purchasing an additional 40,323 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in China Life Insurance by 79.1% in the first quarter. Wells Fargo & Company MN now owns 58,609 shares of the financial services provider’s stock worth $819,000 after purchasing an additional 25,879 shares during the last quarter. Hedge funds and other institutional investors own 0.32% of the company’s stock.

NYSE LFC opened at $10.31 on Friday. The company has a quick ratio of 9.10, a current ratio of 9.10 and a debt-to-equity ratio of 0.06. The firm has a market cap of $60.26 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 0.65 and a beta of 1.58. China Life Insurance Co Ltd has a 52 week low of $9.85 and a 52 week high of $17.78.

China Life Insurance (NYSE:LFC) last posted its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.09 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.30). The firm had revenue of $19.76 billion for the quarter. China Life Insurance had a return on equity of 7.73% and a net margin of 4.03%. Analysts predict that China Life Insurance Co Ltd will post 0.6 EPS for the current fiscal year.

Several equities research analysts recently weighed in on the stock. Sanford C. Bernstein cut shares of China Life Insurance from an “outperform” rating to a “market perform” rating in a research report on Monday, October 29th. Nomura cut shares of China Life Insurance from a “buy” rating to a “neutral” rating in a research report on Friday, October 5th. HSBC cut shares of China Life Insurance from a “hold” rating to a “reduce” rating in a research report on Thursday, September 6th. JPMorgan Chase & Co. cut shares of China Life Insurance from an “overweight” rating to a “neutral” rating in a research report on Friday, August 3rd. Finally, Morgan Stanley upgraded shares of China Life Insurance from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, July 25th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $14.93.

TRADEMARK VIOLATION WARNING: This story was posted by WKRB News and is the sole property of of WKRB News. If you are viewing this story on another site, it was illegally copied and reposted in violation of international copyright laws. The original version of this story can be viewed at https://www.wkrb13.com/2018/11/11/china-life-insurance-co-ltd-lfc-stake-lessened-by-bank-of-montreal-can.html.

About China Life Insurance

China Life Insurance Company Limited, together with its subsidiaries, operates as a life insurance company in the People's Republic of China. The company operates in four segments: Life Insurance Business, Health Insurance Business, Accident Insurance Business, and Other Business. It offers individual and group life, annuity, accident, and health insurance products, as well as provides pension products.

See Also: Fundamental Analysis

Want to see what other hedge funds are holding LFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for China Life Insurance Co Ltd (NYSE:LFC).

Institutional Ownership by Quarter for China Life Insurance (NYSE:LFC)

Receive News & Ratings for China Life Insurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Life Insurance and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply