Folger Hill Asset Management LP acquired a new stake in shares of Fanhua Inc (NASDAQ:FANH) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 76,500 shares of the financial services provider’s stock, valued at approximately $2,067,000. Fanhua comprises about 12.5% of Folger Hill Asset Management LP’s holdings, making the stock its 3rd largest holding. Folger Hill Asset Management LP owned 0.13% of Fanhua at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Fosun International Ltd grew its position in Fanhua by 583.4% in the 2nd quarter. Fosun International Ltd now owns 2,921,779 shares of the financial services provider’s stock worth $83,271,000 after purchasing an additional 2,494,220 shares during the last quarter. Bank of America Corp DE grew its position in Fanhua by 62.0% in the 2nd quarter. Bank of America Corp DE now owns 1,271,974 shares of the financial services provider’s stock worth $36,252,000 after purchasing an additional 486,728 shares during the last quarter. BlackRock Inc. bought a new position in Fanhua in the 2nd quarter worth about $9,022,000. Franklin Resources Inc. grew its position in Fanhua by 24.1% in the 3rd quarter. Franklin Resources Inc. now owns 1,352,901 shares of the financial services provider’s stock worth $36,555,000 after purchasing an additional 262,512 shares during the last quarter. Finally, Morgan Stanley grew its position in Fanhua by 25.8% in the 2nd quarter. Morgan Stanley now owns 1,268,144 shares of the financial services provider’s stock worth $36,142,000 after purchasing an additional 260,374 shares during the last quarter. 35.66% of the stock is owned by institutional investors and hedge funds.
Separately, BidaskClub upgraded shares of Fanhua from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 28th.
Fanhua (NASDAQ:FANH) last issued its quarterly earnings results on Tuesday, November 20th. The financial services provider reported $0.44 earnings per share for the quarter. The company had revenue of $114.15 million during the quarter. Fanhua had a net margin of 18.87% and a return on equity of 16.47%.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Wednesday, December 5th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend is Tuesday, December 4th.
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Fanhua Inc distributes insurance products in China. It operates through two segments, Insurance Agency and Claims Adjusting. The Insurance Agency segment provides property and casualty insurance products, including automobile, individual accident, travel, disability income, commercial property, construction, and other property and casualty products; and life insurance products, such as individual health, individual whole life, individual term life, individual endowment life, and individual annuity, as well as group life and participating insurance products.
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