Hsbc Holdings PLC Purchases 25,263 Shares of 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 increased its position in shares of Noah Holdings Ltd. (NYSE:NOAH - Free Report) by 198.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,002 shares of the asset manager's stock after purchasing an additional 25,263 shares during the period. Hsbc Holdings PLC owned approximately 0.06% of Noah worth $362,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake 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 acquiring an additional 34,350 shares during the period. Northern Trust Corp increased its stake in Noah by 31.2% during the 4th quarter. Northern Trust Corp now owns 90,258 shares of the asset manager's stock worth $1,057,000 after acquiring an additional 21,440 shares during the period. Bank of America Corp DE increased its stake in Noah by 1,066.6% during the 4th quarter. Bank of America Corp DE now owns 83,902 shares of the asset manager's stock worth $982,000 after acquiring an additional 76,710 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Noah by 39.0% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,022 shares of the asset manager's stock worth $633,000 after acquiring an additional 18,806 shares during the period. Finally, Jane Street Group LLC increased its stake in Noah by 79.1% during the 4th quarter. Jane Street Group LLC now owns 49,534 shares of the asset manager's stock worth $580,000 after acquiring an additional 21,871 shares during the period. 42.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Noah Stock Down 2.8%

Shares of NOAH traded down $0.34 during midday trading on Friday, hitting $12.04. The company's stock had a trading volume of 211,708 shares, compared to its average volume of 289,604. Noah Holdings Ltd. has a one year low of $7.67 and a one year high of $14.90. The company's fifty day simple moving average is $12.06 and its two-hundred day simple moving average is $10.91. The stock has a market capitalization of $796.30 million, a price-to-earnings ratio of 10.75 and a beta of 0.90.

Noah (NYSE:NOAH - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The asset manager reported $0.37 earnings per share (EPS) for the quarter. Noah had a return on equity of 6.44% and a net margin of 22.17%.The company had revenue of $87.87 million for the quarter, compared to analyst estimates of $86.31 million. On average, research analysts predict that Noah Holdings Ltd. will post 0.93 earnings per share for the current year.

Noah Cuts Dividend

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