Hsbc Holdings PLC Raises Stock Holdings in Noah Holdings Ltd. $NOAH

Key Points

• HSBC Holdings PLC increased its stake in Noah Holdings Ltd. by 198.3%, acquiring an additional 25,263 shares to reach a total of 38,002 shares valued at approximately $362,000.
• Multiple institutional investors have significantly raised their holdings in Noah, with Russell Investments Group Ltd. expanding by 1,440.2% and Connor Clark & Lunn Investment Management Ltd. boosting their stake by 39.0%.
• Noah's stock received a rating upgrade from "hold" to "buy" by Wall Street Zen, with a consensus price target of $12.00.

Hsbc Holdings PLC lifted its position in shares of Noah Holdings Ltd. (NYSE:NOAH - Free Report) by 198.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,002 shares of the asset manager's stock after purchasing an additional 25,263 shares during the quarter. Hsbc Holdings PLC owned 0.06% of Noah worth $362,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of NOAH. Barclays PLC grew its stake in Noah by 14.0% in the 4th quarter. Barclays PLC now owns 28,660 shares of the asset manager's stock valued at $335,000 after purchasing an additional 3,524 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Noah by 9.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 391,159 shares of the asset manager's stock worth $4,578,000 after purchasing an additional 34,350 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Noah by 1,188.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the asset manager's stock worth $28,000 after purchasing an additional 2,187 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Noah by 31.2% in the 4th quarter. Northern Trust Corp now owns 90,258 shares of the asset manager's stock valued at $1,057,000 after acquiring an additional 21,440 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Noah by 79.1% in the 4th quarter. Jane Street Group LLC now owns 49,534 shares of the asset manager's stock valued at $580,000 after acquiring an additional 21,871 shares in the last quarter. Institutional investors own 42.67% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Noah from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $12.00.

Noah Trading Down 2.8%

Noah stock traded down $0.34 during mid-day trading on Friday, hitting $12.04. The company had a trading volume of 211,708 shares, compared to its average volume of 281,504. The stock's 50 day moving average price is $12.06 and its two-hundred day moving average price is $10.92. Noah Holdings Ltd. has a 12 month low of $7.67 and a 12 month high of $14.90. The company has a market capitalization of $796.25 million, a PE ratio of 10.75 and a beta of 0.90.

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

Noah Cuts Dividend

The business also recently declared an annual dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were given a $1.1572 dividend. The ex-dividend date was Thursday, July 3rd. This represents a yield of 830.0%. Noah's dividend payout ratio is presently 49.11%.

Noah Company 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.