Matthews International Capital Management LLC bought a new stake in Fanhua Inc. (NASDAQ:FANH) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 223,400 shares of the financial services provider’s stock, valued at approximately $1,912,000. Matthews International Capital Management LLC owned 0.38% of Fanhua at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of FANH. Oxford Asset Management raised its stake in shares of Fanhua by 105.5% in the first quarter. Oxford Asset Management now owns 55,324 shares of the financial services provider’s stock valued at $477,000 after buying an additional 28,407 shares during the period. Morgan Stanley raised its stake in shares of Fanhua by 14.3% in the first quarter. Morgan Stanley now owns 145,354 shares of the financial services provider’s stock valued at $1,254,000 after buying an additional 18,216 shares during the period. Renaissance Technologies LLC raised its stake in shares of Fanhua by 14.7% in the first quarter. Renaissance Technologies LLC now owns 100,555 shares of the financial services provider’s stock valued at $868,000 after buying an additional 12,904 shares during the period. Van Berkom & Associates Inc. raised its stake in shares of Fanhua by 22.5% in the second quarter. Van Berkom & Associates Inc. now owns 226,929 shares of the financial services provider’s stock valued at $1,943,000 after buying an additional 41,730 shares during the period. Finally, Boston Partners raised its stake in shares of Fanhua by 25.8% in the second quarter. Boston Partners now owns 208,970 shares of the financial services provider’s stock valued at $1,789,000 after buying an additional 42,842 shares during the period. Hedge funds and other institutional investors own 14.27% of the company’s stock.
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Separately, ValuEngine lowered Fanhua from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th.
Shares of Fanhua Inc. (NASDAQ:FANH) traded up 1.35% during mid-day trading on Friday, hitting $10.49. The company’s stock had a trading volume of 62,640 shares. The company has a market cap of $646.16 million, a price-to-earnings ratio of 13.28 and a beta of 1.02. Fanhua Inc. has a 52-week low of $6.79 and a 52-week high of $10.54. The stock’s 50 day moving average price is $8.98 and its 200 day moving average price is $8.80.
Fanhua (NASDAQ:FANH) last released its quarterly earnings results on Monday, August 21st. The financial services provider reported $0.32 earnings per share (EPS) for the quarter. The firm had revenue of $149.42 million for the quarter. Fanhua had a return on equity of 8.96% and a net margin of 6.08%. Equities analysts forecast that Fanhua Inc. will post $0.81 EPS for the current year.
Fanhua Inc, formerly CNinsure Inc, is an independent online-to-offline financial services provider in China. The Company distributes a range of property, casualty and life insurance products underwritten by domestic and foreign insurance companies operating in China to individual and institutional customers, and provides insurance claims adjusting services.
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