Northern Trust Corp boosted its stake in shares of Noah Holdings Limited (NYSE:NOAH) by 88.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 215,734 shares of the asset manager’s stock after acquiring an additional 101,495 shares during the period. Northern Trust Corp’s holdings in Noah were worth $11,250,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of NOAH. Hillhouse Capital Management Ltd. purchased a new stake in Noah during the 2nd quarter worth about $46,515,000. BlackRock Inc. increased its holdings in Noah by 177.8% during the 2nd quarter. BlackRock Inc. now owns 1,291,219 shares of the asset manager’s stock worth $67,336,000 after purchasing an additional 826,436 shares during the period. Mckinley Capital Management LLC Delaware purchased a new stake in Noah during the 2nd quarter worth about $4,707,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Noah during the 2nd quarter worth about $4,489,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Noah during the 2nd quarter worth about $4,073,000. Institutional investors own 49.37% of the company’s stock.
Several equities research analysts have weighed in on the company. Zacks Investment Research downgraded Noah from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 31st. ValuEngine upgraded Noah from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Nomura upgraded Noah from a “neutral” rating to a “buy” rating in a report on Thursday, July 19th. Finally, Deutsche Bank assumed coverage on Noah in a report on Wednesday, September 12th. They set a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Noah has a consensus rating of “Buy” and an average target price of $53.50.
NYSE:NOAH opened at $43.38 on Friday. The stock has a market cap of $2.52 billion, a PE ratio of 21.41 and a beta of 1.94. Noah Holdings Limited has a 1 year low of $34.20 and a 1 year high of $69.56. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 0.06.
Noah (NYSE:NOAH) last released its quarterly earnings data on Tuesday, August 28th. The asset manager reported $0.45 earnings per share (EPS) for the quarter. The business had revenue of $121.26 million during the quarter. Noah had a return on equity of 17.17% and a net margin of 26.20%. As a group, research analysts forecast that Noah Holdings Limited will post 2.45 earnings per share for the current year.
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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