Ping An Insurance Likely to Post Weak 4Q Results -- Market Talk

Dow Jones03-15

0316 GMT - Ping An Insurance could post soft 4Q results, as operating profit was damped by its asset management and technology segments, Citi analysts say in a research note. Ping An's life insurance business likely lost sales momentum in 4Q amid a product shift and adjustments in bancassurance commissions, the analysts say. The company's 2023 operating profit after tax could have contracted 14%, weighed by much larger investment impairment losses, they add. Citi opens a 30-day downside catalyst watch on Ping An. They trim 2023-2025 EPS estimates by 28%, 21% and 24%, respectively. Citi lowers its H-share target price for the stock to HK$54.50 from HK$72.00 and cutsits A-share target price to CNY50.1 from CNY63.0. Hong Kong-listed shares were last 3.3% lower at HK$35.10.(sherry.qin@wsj.com)

(END) Dow Jones Newswires

March 14, 2024 23:16 ET (03:16 GMT)

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Ping An's life insurance ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"82318","symbol_name":"中国平安-R","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2419428999","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2419428999","pubTimestamp":1710472560,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0316 GMT - Ping An Insurance could post soft 4Q results, as operating profit was damped by its asset management and technology segments, Citi analysts say in a research note. 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Ping An's life insurance business likely lost sales momentum in 4Q amid a product shift and adjustments in bancassurance commissions, the analysts say. The company's 2023 operating profit after tax could have contracted 14%, weighed by much larger investment impairment losses, they add. Citi opens a 30-day downside catalyst watch on Ping An. They trim 2023-2025 EPS estimates by 28%, 21% and 24%, respectively. Citi lowers its H-share target price for the stock to HK$54.50 from HK$72.00 and cutsits A-share target price to CNY50.1 from CNY63.0. 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