Fanhua (FANH) Lowered to “Buy” at BidaskClub

BidaskClub lowered shares of Fanhua (NASDAQ:FANH) from a strong-buy rating to a buy rating in a research note released on Tuesday.

Fanhua (NASDAQ FANH) opened at $33.55 on Tuesday. Fanhua has a twelve month low of $7.31 and a twelve month high of $33.76. The firm has a market capitalization of $1,876.94, a price-to-earnings ratio of 34.28 and a beta of 1.49.

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Hedge funds have recently modified their holdings of the company. Fosun International Ltd grew its stake in Fanhua by 18.1% in the third quarter. Fosun International Ltd now owns 3,993,036 shares of the financial services provider’s stock valued at $50,192,000 after purchasing an additional 611,920 shares in the last quarter. Deutsche Bank AG grew its stake in Fanhua by 319.4% in the fourth quarter. Deutsche Bank AG now owns 543,470 shares of the financial services provider’s stock valued at $11,749,000 after purchasing an additional 413,883 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Fanhua by 1,002.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 527,672 shares of the financial services provider’s stock valued at $11,408,000 after purchasing an additional 479,802 shares in the last quarter. Matthews International Capital Management LLC grew its stake in Fanhua by 2.5% in the fourth quarter. Matthews International Capital Management LLC now owns 332,600 shares of the financial services provider’s stock valued at $7,191,000 after purchasing an additional 8,200 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Fanhua by 12.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 298,860 shares of the financial services provider’s stock valued at $6,461,000 after purchasing an additional 32,137 shares in the last quarter. Institutional investors and hedge funds own 16.14% of the company’s stock.

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About Fanhua

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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