Russell Investments Group Ltd. Has $328,000 Stake in Noah Holdings Ltd. $NOAH

Russell Investments Group Ltd. boosted its holdings in shares of Noah Holdings Ltd. (NYSE:NOAH - Free Report) by 1,440.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,376 shares of the asset manager's stock after purchasing an additional 30,274 shares during the period. Russell Investments Group Ltd.'s holdings in Noah were worth $328,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NOAH. Barclays PLC increased its holdings in Noah by 14.0% during 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 increased 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 valued at $4,578,000 after purchasing an additional 34,350 shares during the period. Tower Research Capital LLC TRC increased 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 valued at $28,000 after purchasing an additional 2,187 shares during the period. Hsbc Holdings PLC purchased a new position in Noah during the 4th quarter valued at about $150,000. Finally, Northern Trust Corp increased its holdings in Noah by 31.2% during the 4th quarter. Northern Trust Corp now owns 90,258 shares of the asset manager's stock valued at $1,057,000 after purchasing an additional 21,440 shares during the period. Hedge funds and other institutional investors own 42.67% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Noah from a "hold" rating to a "buy" rating in a 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 stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $12.00.

Noah Price Performance

Shares of Noah stock traded down $0.34 on Friday, hitting $12.04. The company had a trading volume of 211,708 shares, compared to its average volume of 281,504. The firm has a market capitalization of $796.30 million, a P/E ratio of 10.75 and a beta of 0.90. Noah Holdings Ltd. has a twelve month low of $7.67 and a twelve month high of $14.90. The stock has a 50-day moving average of $12.06 and a 200-day moving average of $10.92.

Noah (NYSE:NOAH - Get Free Report) last released its quarterly 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 company had revenue of $87.87 million during the quarter, compared to analysts' expectations of $86.31 million. Equities analysts predict that Noah Holdings Ltd. will post 0.93 EPS for the current year.

Noah Cuts Dividend

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