Acadian Asset Management LLC Buys 266,602 Shares of Noah Holdings Ltd. $NOAH

Key Points

• Acadian Asset Management LLC increased its stake in Noah Holdings Ltd. by 61.9%, acquiring an additional 266,602 shares, bringing its total to approximately 696,967 shares valued at $6,563,000.
• Other institutional investors like First Beijing Investment Ltd. and Cubist Systematic Strategies LLC have also boosted their stakes significantly, indicating growing confidence in Noah Holdings.
• Noah's shares received a rating upgrade from hold to buy by Wall Street Zen, with analysts forecasting a consensus price target of $12.00.

Acadian Asset Management LLC lifted its stake in shares of Noah Holdings Ltd. (NYSE:NOAH - Free Report) by 61.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 696,967 shares of the asset manager's stock after acquiring an additional 266,602 shares during the period. Acadian Asset Management LLC owned approximately 1.04% of Noah worth $6,563,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. First Beijing Investment Ltd raised its stake in shares of Noah by 19.5% during the first quarter. First Beijing Investment Ltd now owns 163,443 shares of the asset manager's stock valued at $1,545,000 after acquiring an additional 26,710 shares during the last quarter. Everstar Asset Management LLC bought a new position in Noah in the first quarter worth about $217,000. Eschler Asset Management LLP raised its stake in Noah by 70.8% in the first quarter. Eschler Asset Management LLP now owns 59,600 shares of the asset manager's stock worth $563,000 after buying an additional 24,700 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Noah by 307.2% during the first quarter. Cubist Systematic Strategies LLC now owns 17,980 shares of the asset manager's stock valued at $170,000 after purchasing an additional 13,564 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of Noah by 198.3% during the first quarter. Hsbc Holdings PLC now owns 38,002 shares of the asset manager's stock valued at $362,000 after purchasing an additional 25,263 shares in the last quarter. 42.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Noah from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Noah currently has an average rating of "Hold" and a consensus price target of $12.00.

Noah Stock Performance

Shares of NYSE NOAH opened at $11.80 on Friday. The company has a market cap of $780.56 million, a P/E ratio of 10.53 and a beta of 0.90. The firm's fifty day moving average is $12.07 and its two-hundred day moving average is $10.93. Noah Holdings Ltd. has a 52-week low of $7.67 and a 52-week high of $14.90.

Noah (NYSE:NOAH - Get Free Report) last posted its earnings results on Wednesday, August 27th. The asset manager reported $0.37 earnings per share for the quarter. Noah had a net margin of 22.17% and a return on equity of 6.44%. The firm had revenue of $87.87 million for the quarter, compared to the consensus estimate of $86.31 million. As a group, analysts forecast that Noah Holdings Ltd. will post 0.93 EPS for the current fiscal year.

Noah Cuts Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were given a $1.1572 dividend. This represents a yield of 830.0%. The ex-dividend date of this dividend was Thursday, July 3rd. Noah's payout ratio is 50.00%.

Noah Profile

Noah Holdings Limited, together with its subsidiaries, operates as a wealth and asset management service provider with the focus on investment and asset allocation services for high net worth individuals and enterprises in Mainland of China, Hong Kong, and internationally. It operates through three segments: Wealth Management, Asset Management, and Other Services.

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