SEHK:2318

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Ping An Insurance (Group) Company of China

Executive Summary

Ping An Insurance (Group) Company of China, Ltd. More Details


Snowflake Analysis

Average dividend payer and slightly overvalued.


Similar Companies

Share Price & News

How has Ping An Insurance (Group) Company of China's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 2318 is less volatile than 75% of Hong Kong stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: 2318's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

4.0%

2318

2.0%

HK Insurance

1.1%

HK Market


1 Year Return

3.4%

2318

-2.9%

HK Insurance

8.2%

HK Market

Return vs Industry: 2318 exceeded the Hong Kong Insurance industry which returned -2.9% over the past year.

Return vs Market: 2318 underperformed the Hong Kong Market which returned 8.2% over the past year.


Shareholder returns

2318IndustryMarket
7 Day4.0%2.0%1.1%
30 Day11.8%7.1%7.2%
90 Day10.1%4.3%5.2%
1 Year6.4%3.4%0.3%-2.9%12.6%8.2%
3 Year31.8%21.5%3.4%-4.0%0.4%-10.0%
5 Year136.1%109.4%27.0%13.3%30.6%8.5%

Long-Term Price Volatility Vs. Market

How volatile is Ping An Insurance (Group) Company of China's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Ping An Insurance (Group) Company of China undervalued compared to its fair value and its price relative to the market?

15.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 2318 (HK$91.7) is trading below our estimate of fair value (HK$108.91)

Significantly Below Fair Value: 2318 is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: 2318 is poor value based on its PE Ratio (11.2x) compared to the HK Insurance industry average (9.6x).

PE vs Market: 2318's PE Ratio (11.2x) is in line with the Hong Kong market.


Price to Earnings Growth Ratio

PEG Ratio: 2318 is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: 2318 is overvalued based on its PB Ratio (2x) compared to the HK Insurance industry average (0.9x).


Next Steps

Future Growth

How is Ping An Insurance (Group) Company of China forecast to perform in the next 1 to 3 years based on estimates from 19 analysts?

16.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 2318's forecast earnings growth (16.3% per year) is above the savings rate (1.6%).

Earnings vs Market: 2318's earnings (16.3% per year) are forecast to grow slower than the Hong Kong market (21.9% per year).

High Growth Earnings: 2318's earnings are forecast to grow, but not significantly.

Revenue vs Market: 2318's revenue (4.7% per year) is forecast to grow slower than the Hong Kong market (13.6% per year).

High Growth Revenue: 2318's revenue (4.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 2318's Return on Equity is forecast to be high in 3 years time (20.1%)


Next Steps

Past Performance

How has Ping An Insurance (Group) Company of China performed over the past 5 years?

21.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 2318 has high quality earnings.

Growing Profit Margin: 2318's current net profit margins (9.7%) are lower than last year (13.1%).


Past Earnings Growth Analysis

Earnings Trend: 2318's earnings have grown significantly by 21.5% per year over the past 5 years.

Accelerating Growth: 2318's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 2318 had negative earnings growth (-22%) over the past year, making it difficult to compare to the Insurance industry average (-3.4%).


Return on Equity

High ROE: 2318's Return on Equity (14.7%) is considered low.


Next Steps

Financial Health

How is Ping An Insurance (Group) Company of China's financial position?


Financial Position Analysis

Short Term Liabilities: 2318's short term assets (CN¥3,189.4B) exceed its short term liabilities (CN¥498.5B).

Long Term Liabilities: 2318's short term assets (CN¥3,189.4B) do not cover its long term liabilities (CN¥7,704.2B).


Debt to Equity History and Analysis

Debt Level: 2318's debt to equity ratio (219.2%) is considered high.

Reducing Debt: 2318's debt to equity ratio has increased from 218.4% to 219.2% over the past 5 years.

Debt Coverage: 2318's debt is not well covered by operating cash flow (8.9%).

Interest Coverage: 2318's interest payments on its debt are well covered by EBIT (3.5x coverage).


Balance Sheet


Next Steps

Dividend

What is Ping An Insurance (Group) Company of China current dividend yield, its reliability and sustainability?

2.70%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 2318's dividend (2.7%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.25%).

High Dividend: 2318's dividend (2.7%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.6%).


Stability and Growth of Payments

Stable Dividend: 2318's dividend payments have been volatile in the past 10 years.

Growing Dividend: 2318's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (30.2%), 2318's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 2318's dividends in 3 years are forecast to be well covered by earnings (26.7% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.6yrs

Average management tenure


CEO

Jason Yao (49 yo)

0.33

Tenure

CN¥6,406,000

Compensation

Mr. Bo Yao, also known as Jason, has been the Chief Actuary of Ping An Insurance (Group) Company of China, Ltd. since October 2012 and also serves as its Co-Chief Executive Officer since July 01, 2020. Mr....


CEO Compensation Analysis

Compensation vs Market: Jason's total compensation ($USD974.25K) is about average for companies of similar size in the Hong Kong market ($USD830.51K).

Compensation vs Earnings: Jason's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Mingzhe Ma
Founder & Executive Chairman26.58yrsCN¥5.10m0.0088%
CN¥ 159.3m
Bo Yao
Executive VP0.33yrCN¥6.41m0.0030%
CN¥ 55.0m
Fangfang Cai
Senior VP6.33yrsCN¥4.23m0.0013%
CN¥ 22.8m
Sin Yin Tan
Co-CEO, Executive VP & Executive Director0.58yrno data0.0017%
CN¥ 30.0m
Yonglin Xie
Co-CEO, GM0.92yrno data0.0017%
CN¥ 30.2m
Tak Yin Chan
Chief Investment Officer8.25yrsno datano data
Jing Xiao
Chief Scientistno datano datano data
Min Lu
Chief Insurance Business Officer & Chief Information Officerno datano datano data
James Garner
Chief Strategist & Head of Investor Relationsno datano datano data
So Lan Ip
Senior VP10.83yrsno data0.0023%
CN¥ 40.9m
Kexiang Chen
Senior Vice President18.42yrsCN¥6.27m0.0022%
CN¥ 40.0m
Jonathan Larsen
Chief Innovation Officer3.5yrsno datano data

4.6yrs

Average Tenure

56.5yo

Average Age

Experienced Management: 2318's management team is considered experienced (4.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Mingzhe Ma
Founder & Executive Chairman26.58yrsCN¥5.10m0.0088%
CN¥ 159.3m
Bo Yao
Executive VP0.33yrCN¥6.41m0.0030%
CN¥ 55.0m
Fangfang Cai
Senior VP6.33yrsCN¥4.23m0.0013%
CN¥ 22.8m
Sin Yin Tan
Co-CEO, Executive VP & Executive Director0.58yrno data0.0017%
CN¥ 30.0m
Yonglin Xie
Co-CEO, GM0.92yrno data0.0017%
CN¥ 30.2m
Soopakij Chearavanont
Non-Executive Director7.42yrsCN¥535.00kno data
Jianyi Sun
Chairman of the Supervisory Committee0.25yrCN¥3.65m0.025%
CN¥ 452.2m
Xiaoping Yang
Non-Executive Director7.42yrsCN¥538.00kno data
Ming Ge
Independent Non-Executive Director5.42yrsCN¥538.00kno data
Sing Yip Ng
Independent Non-Executive Director14.5yrsCN¥253.00kno data
Hui Ouyang
Independent Non-Executive Director3.25yrsCN¥542.00kno data
Yongjian Wang
Non-Executive Director2.33yrsCN¥503.00kno data

5.9yrs

Average Tenure

56yo

Average Age

Experienced Board: 2318's board of directors are considered experienced (5.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Ping An Insurance (Group) Company of China, Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Ping An Insurance (Group) Company of China, Ltd.
  • Ticker: 2318
  • Exchange: SEHK
  • Founded: 1988
  • Industry: Life and Health Insurance
  • Sector: Insurance
  • Market Cap: HK$1.808t
  • Shares outstanding: 18.21b
  • Website: https://www.pingan.com

Number of Employees


Location

  • Ping An Insurance (Group) Company of China, Ltd.
  • Ping An Finance Center
  • 47th, 48th, 108th, 109th, 110th, 111th and 112th Floors
  • Shenzhen
  • Guangdong Province
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PIAI.FOTCPK (Pink Sheets LLC)YesForeign Shares-Foreign ListedUSUSDJun 2004
2318SEHK (The Stock Exchange of Hong Kong Ltd.)YesForeign Shares-Foreign ListedHKHKDJun 2004
PZXDB (Deutsche Boerse AG)YesForeign Shares-Foreign ListedDEEURJun 2004
2318SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesForeign Shares-Foreign ListedHKHKDJun 2004
2318SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesForeign Shares-Foreign ListedHKHKDJun 2004
PNGA.YOTCPK (Pink Sheets LLC)SPONS ADR EA REP 2'H' SHSUSUSDMar 2005
PNGAY NBMV (Bolsa Mexicana de Valores)SPONS ADR EA REP 2'H' SHSMXMXNMar 2005
PZXBDB (Deutsche Boerse AG)SPONS ADR EA REP 2'H' SHSDEEURMar 2005
601318SHSE (Shanghai Stock Exchange)Domestic SharesCNCNYMar 2007
601318XSSC (Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect)Domestic SharesCNCNYMar 2007

Biography

Ping An Insurance (Group) Company of China, Ltd. provides financial products and services for insurance, banking, asset management, and fintech and healthtech businesses in China. The company’s Life and He...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/27 10:11
End of Day Share Price2020/11/27 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.