Buy Rating on Ping An Insurance Backed by Resilient Growth and Strong Dividend Commitment Amidst Market Challenges

News Snapshot:

Sam Wong, an analyst from Jefferies, maintained the Buy rating on Ping An Insurance Company of China (PIAIF – Research Report). The associated price target is HK$45.00. Sam Wong has given his Buy rating due to a combination of factors impacting Ping An Insurance Company of China. Despite notable headwinds, the company displayed resilience with its value of new business (VNB) which increased by 36% year-over-year on a constant assumption basis and maintained an 8% growth even after accounting for assumption changes. This growth in VNB demonstrates the company’s underlying strength and potential for future profitability. Additionally, the dividend per...