First Trust Advisors LP lifted its stake in Noah Holdings Ltd. (NYSE:NOAH) by 16.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 65,485 shares of the asset manager’s stock after buying an additional 9,436 shares during the period. First Trust Advisors LP owned about 0.17% of Noah Holdings worth $1,876,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOAH. Shell Asset Management Co. lifted its stake in shares of Noah Holdings by 2.1% in the first quarter. Shell Asset Management Co. now owns 20,014 shares of the asset manager’s stock valued at $508,000 after buying an additional 420 shares during the period. Parametric Portfolio Associates LLC lifted its stake in shares of Noah Holdings by 47.8% in the first quarter. Parametric Portfolio Associates LLC now owns 21,141 shares of the asset manager’s stock valued at $537,000 after buying an additional 6,838 shares during the period. Hosking Partners LLP lifted its stake in shares of Noah Holdings by 108.0% in the first quarter. Hosking Partners LLP now owns 195,135 shares of the asset manager’s stock valued at $4,953,000 after buying an additional 101,330 shares during the period. Granite Point Capital Management L.P. bought a new stake in shares of Noah Holdings in the first quarter valued at about $381,000. Finally, Neuberger Berman Group LLC bought a new stake in shares of Noah Holdings in the first quarter valued at about $200,000. Institutional investors and hedge funds own 41.56% of the company’s stock.
Several equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of Noah Holdings from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 11th. Zacks Investment Research upgraded shares of Noah Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, August 31st. Finally, ValuEngine cut shares of Noah Holdings from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd.
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Shares of Noah Holdings Ltd. (NYSE:NOAH) opened at 27.92 on Wednesday. The company has a market cap of $1.58 billion, a PE ratio of 15.87 and a beta of 2.37. The company has a 50 day moving average of $30.57 and a 200 day moving average of $28.15. Noah Holdings Ltd. has a 1-year low of $21.33 and a 1-year high of $33.05.
Noah Holdings declared that its Board of Directors has approved a share buyback plan on Thursday, June 29th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
Noah Holdings Company Profile
Noah Holdings Limited is a wealth management service provider with a focus on global wealth investment and asset allocation services for high net worth individuals and enterprises in China. The Company operates through three segments: wealth management, asset management and Internet finance. It also provides Internet finance services to clients in China.
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