- PICC Group’s IFRS net was 22.32 billion yuan, a decrease of 12% from the previous year.
- The estimated IFRS net was 23.99 billion yuan, meaning PICC Group’s net missed estimates.
- The final dividend per share was 15.60 RMB cents, compared to 16.6 RMB cents the previous year.
- The annualized investment yield was 3.3%, down from 4.6% the year before.
- The combined ratio of PICC P&C was 97.8%, slightly higher than the previous year’s 97.6%.
- The estimated combined ratio was 98.5%, so PICC P&C’s actual combined ratio was lower than expected.
- There were 13 buys, 5 holds, and 0 sells for the company’s stocks.
- All comparisons to past results are based on values reported by the company’s original disclosures.
People’s Insurance (PICC) on Smartkarma
Analysts on Smartkarma, an independent investment research network, are closely following the analyst coverage of People’s Insurance (PICC). According to David Blennerhassett, a top independent analyst on the platform, PICC’s implied stub has reached a new low as interest rate cuts take their toll. Blennerhassett suggests going long on PICC and short on its subsidiary, PICC Property & Casualty, as the market has assigned HK$42.6bn less for PICC’s steady and profitable life/health insurance operations, despite their strong performance.
In another report, Blennerhassett notes that PICC is currently trading at an all-time low implied stub, with the market assigning HK$35.6bn less for its life/health insurance operations. He recommends going long on PICC and short on its subsidiary, as PICC has been outperforming the Hang Seng Index, but its subsidiary has been on a hot streak, possibly due to the popularity of EV insurance. With top analysts like Blennerhassett closely monitoring the coverage of PICC on Smartkarma, investors can stay informed and make well-informed investment decisions.
A look at People’s Insurance (PICC) Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 5 | |
| Dividend | 5 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 4.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
The future looks bright for People’s Insurance (PICC), as indicated by its Smartkarma Smart Scores. With a score of 5 for both value and dividend, the company is performing well in terms of its financials. This is further supported by a score of 4 for momentum, indicating positive market sentiment towards the company. These scores suggest that PICC is a financially stable and attractive investment option.
However, the company may face some challenges in terms of growth and resilience, with scores of 3 for both factors. This could be due to the competitive nature of the insurance industry and potential risks in the market. Nevertheless, PICC has a strong track record and a diverse range of insurance products, making it well-positioned to weather any potential challenges.
The People’s Insurance Company (Group) of China Limited is a leading insurance provider in China, offering a wide range of property and casualty insurance products. The company also provides asset management services, catering to various customers across the country. With its strong financial performance and established presence in the market, PICC is poised for long-term success.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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