Greenwoods Asset Management Ltd lifted its holdings in Noah Holdings Limited (NYSE:NOAH) by 71.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 684,518 shares of the asset manager’s stock after acquiring an additional 285,476 shares during the period. Noah makes up 2.8% of Greenwoods Asset Management Ltd’s portfolio, making the stock its 5th biggest position. Greenwoods Asset Management Ltd owned about 1.19% of Noah worth $28,846,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D increased its position in shares of Noah by 211.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 23,524 shares of the asset manager’s stock worth $991,000 after acquiring an additional 15,982 shares in the last quarter. Voya Investment Management LLC acquired a new stake in shares of Noah in the second quarter worth $229,000. Northern Trust Corp increased its position in shares of Noah by 88.8% in the second quarter. Northern Trust Corp now owns 215,734 shares of the asset manager’s stock worth $11,250,000 after acquiring an additional 101,495 shares in the last quarter. Guinness Atkinson Asset Management Inc purchased a new position in shares of Noah in the second quarter valued at $3,092,000. Finally, Hillhouse Capital Management Ltd. purchased a new position in shares of Noah in the second quarter valued at $46,515,000. 50.72% of the stock is owned by institutional investors.
NOAH has been the subject of several analyst reports. ValuEngine upgraded shares of Noah from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Zacks Investment Research downgraded shares of Noah from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 31st. Finally, Deutsche Bank initiated coverage on shares of Noah in a research note on Wednesday, September 12th. They issued a “buy” rating for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $53.50.
Shares of NOAH stock opened at $50.55 on Thursday. The firm has a market capitalization of $2.90 billion, a PE ratio of 25.15 and a beta of 2.00. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.04. Noah Holdings Limited has a twelve month low of $34.20 and a twelve month high of $69.56.
Noah (NYSE:NOAH) last announced its earnings results on Monday, November 19th. The asset manager reported $0.50 earnings per share for the quarter. The business had revenue of $122.83 million during the quarter. Noah had a net margin of 25.60% and a return on equity of 16.27%. On average, research analysts predict that Noah Holdings Limited will post 2.45 EPS for the current year.
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Noah Company Profile
Noah Holdings Limited, through its subsidiaries, operates as a wealth and asset management service provider with focus on wealth investment and asset allocation services for high net worth individuals and enterprises in the People's Republic of China. The company operates through three segments: Wealth Management, Asset Management, and Other Financial Service.
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