Jinwu Finance News | The People's Insurance (01339) share price steadily climbed, expanding in the afternoon, as of the deadline, rising by 12.9% to 4.9 Hong Kong dollars, with a trading volume of 0.747 billion Hong Kong dollars.
According to documents disclosed by the Hong Kong Stock Exchange on October 4, Blackrock, Inc. (BlackRock, Inc.) increased its shareholding by 7.097 million H-share shares at an average price of 3.6852 Hong Kong dollars per share on September 30, worth approximately 26.1539 million Hong Kong dollars. After the increase, Blackrock's latest shareholding is 0.703 billion shares, and the concentration ratio has risen from 7.97% to 8.05%.
Fangzheng Securities released research reports believing that starting from April, gradually entering a period of high base comparison, but in July, major banks lowered the 5-year deposit interest rate to 1.8%, with strong demand for household funds transfer, highlighting the competitiveness of savings-type insurance products. In September, the scheduled rates for dividend insurance and universal insurance were lowered, and the integration of banking and insurance was strictly enforced. Q3 industry NBVM still has the potential for continuous improvement, with the NBP and annualized premium income expected to continue to grow against the backdrop of a low base in 2024.
Sealand Securities stated that the unexpectedly aggressive combination of policies and the rapid market recovery have created a resonance on both the asset and liability sides of listed insurers. The bank still maintains a 'recommended' rating for the insurance sector, while suggesting internal portfolio adjustments and prioritizing investment targets with greater flexibility.