China Life Insurance Co Ltd (NYSE:LFC) Stake Cut by Sit Investment Associates Inc.

China Life Insurance Co Ltd (NYSE:LFC) Stake Cut by Sit Investment Associates Inc.

Sit Investment Associates Inc. cut its stake in shares of China Life Insurance Co Ltd (NYSE:LFC) by 12.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,300 shares of the financial services provider’s stock after selling 2,200 shares during the period. Sit Investment Associates Inc.’s holdings in China Life Insurance were worth $160,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Cubist Systematic Strategies LLC boosted its holdings in China Life Insurance by 12.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 41,520 shares of the financial services provider’s stock worth $531,000 after buying an additional 4,614 shares during the period. Tower Research Capital LLC TRC boosted its holdings in China Life Insurance by 274.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,884 shares of the financial services provider’s stock worth $101,000 after buying an additional 5,780 shares during the period. Comerica Bank boosted its holdings in China Life Insurance by 7.6% in the 3rd quarter. Comerica Bank now owns 87,233 shares of the financial services provider’s stock worth $975,000 after buying an additional 6,136 shares during the period. SG Americas Securities LLC boosted its holdings in China Life Insurance by 127.2% in the 3rd quarter. SG Americas Securities LLC now owns 19,825 shares of the financial services provider’s stock worth $226,000 after buying an additional 11,100 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its holdings in China Life Insurance by 9.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 202,886 shares of the financial services provider’s stock worth $2,311,000 after buying an additional 17,638 shares during the period. Institutional investors and hedge funds own 0.34% of the company’s stock.

Shares of NYSE LFC traded down $0.03 during mid-day trading on Monday, hitting $12.16. 173,783 shares of the company’s stock traded hands, compared to its average volume of 679,364. The company has a current ratio of 9.10, a quick ratio of 9.10 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $68.91 billion, a price-to-earnings ratio of 13.08 and a beta of 1.35. China Life Insurance Co Ltd has a 1 year low of $9.85 and a 1 year high of $15.29.

LFC has been the subject of several recent analyst reports. Sanford C. Bernstein downgraded shares of China Life Insurance from an “outperform” rating to a “market perform” rating in a report on Monday, October 29th. Zacks Investment Research raised shares of China Life Insurance from a “sell” rating to a “hold” rating in a report on Wednesday, November 14th. Deutsche Bank raised shares of China Life Insurance to a “buy” rating in a report on Tuesday, November 20th. They noted that the move was a valuation call. UBS Group downgraded shares of China Life Insurance from a “buy” rating to a “neutral” rating in a report on Monday, November 26th. Finally, Nomura downgraded shares of China Life Insurance from a “neutral” rating to a “reduce” rating in a report on Friday, December 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $12.93.

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.

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