Wells Fargo & Company MN decreased its position in Noah Holdings Limited (NYSE:NOAH) by 8.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,397 shares of the asset manager’s stock after selling 2,386 shares during the period. Wells Fargo & Company MN’s holdings in Noah were worth $1,028,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Guinness Asset Management Ltd grew its position in Noah by 1,050.0% in the 2nd quarter. Guinness Asset Management Ltd now owns 2,300 shares of the asset manager’s stock worth $120,000 after purchasing an additional 2,100 shares during the last quarter. Voya Investment Management LLC acquired a new stake in shares of Noah in the 2nd quarter worth approximately $229,000. SG Americas Securities LLC lifted its stake in shares of Noah by 68.0% in the 2nd quarter. SG Americas Securities LLC now owns 5,872 shares of the asset manager’s stock worth $306,000 after acquiring an additional 2,377 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Noah in the 3rd quarter worth approximately $299,000. Finally, BB&T Securities LLC lifted its stake in shares of Noah by 65.4% in the 2nd quarter. BB&T Securities LLC now owns 15,185 shares of the asset manager’s stock worth $791,000 after acquiring an additional 6,003 shares during the period. Hedge funds and other institutional investors own 50.72% of the company’s stock.
NOAH has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Noah from a “hold” rating to a “sell” rating in a research note on Tuesday, December 25th. ValuEngine raised shares of Noah from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Noah currently has a consensus rating of “Hold” and a consensus target price of $53.50.
Noah (NYSE:NOAH) last issued its quarterly earnings results on Monday, November 19th. The asset manager reported $0.50 earnings per share for the quarter. Noah had a net margin of 25.60% and a return on equity of 16.27%. The company had revenue of $122.83 million during the quarter. Equities analysts forecast that Noah Holdings Limited will post 2.4 earnings per share for the current year.
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Noah Holdings Limited, through its subsidiaries, operates as a wealth and asset management service provider with focus on wealth investment and asset allocation services for high net worth individuals and enterprises in the People's Republic of China. The company operates through three segments: Wealth Management, Asset Management, and Other Financial Service.
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