Nuveen LLC Purchases New Shares in Noah Holdings Ltd. $NOAH

Key Points

• Nuveen LLC has acquired 37,000 shares of Noah Holdings Ltd. valued at approximately $350,000, increasing its stake to 0.06%.
• Wall Street Zen upgraded Noah's rating from "hold" to "buy," and the company currently has an average rating of "hold" with a consensus target price of $12.00.
• Noah Holdings reported a quarterly EPS of $0.37 and revenue of $87.87 million, exceeding analysts' expectations of $86.31 million.

Nuveen LLC acquired a new stake in Noah Holdings Ltd. (NYSE:NOAH - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 37,000 shares of the asset manager's stock, valued at approximately $350,000. Nuveen LLC owned about 0.06% of Noah as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Invesco Ltd. boosted its position in Noah by 7.1% during the first quarter. Invesco Ltd. now owns 30,880 shares of the asset manager's stock valued at $292,000 after purchasing an additional 2,047 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Noah by 1,188.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the asset manager's stock valued at $28,000 after purchasing an additional 2,187 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Noah by 18.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 19,085 shares of the asset manager's stock valued at $223,000 after purchasing an additional 2,930 shares in the last quarter. Barclays PLC boosted its position in Noah by 14.0% during the fourth 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 in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Noah during the fourth quarter valued at about $52,000. Institutional investors own 42.67% of the company's stock.

Analyst Upgrades and Downgrades

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

Noah Stock Performance

Noah stock opened at $12.04 on Friday. The stock has a 50-day moving average of $12.06 and a two-hundred day moving average of $10.92. Noah Holdings Ltd. has a one year low of $7.67 and a one year high of $14.90. The stock has a market cap of $796.30 million, a PE ratio of 10.75 and a beta of 0.90.

Noah (NYSE:NOAH - Get Free Report) last released its quarterly earnings results on Wednesday, August 27th. The asset manager reported $0.37 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 during the quarter, compared to analysts' expectations of $86.31 million. As a group, sell-side analysts predict that Noah Holdings Ltd. will post 0.93 EPS for the current fiscal year.

Noah Cuts Dividend

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

About Noah

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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