Noah (NYSE:NOAH) Lifted to Buy at StockNews.com

Noah (NYSE:NOAHGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

NOAH has been the subject of a number of other research reports. JPMorgan Chase & Co. upgraded shares of Noah from a “neutral” rating to an “overweight” rating and set a $22.00 price target for the company in a research note on Wednesday. Bank of America cut their target price on shares of Noah from $51.50 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, March 16th.

NOAH stock traded up $1.39 during trading hours on Thursday, reaching $18.91. The stock had a trading volume of 375,204 shares, compared to its average volume of 243,291. The stock has a market capitalization of $1.14 billion, a PE ratio of 7.03, a price-to-earnings-growth ratio of 0.53 and a beta of 1.33. The stock has a 50-day simple moving average of $17.66 and a 200 day simple moving average of $24.60. Noah has a fifty-two week low of $15.06 and a fifty-two week high of $49.88.

Noah (NYSE:NOAHGet Rating) last announced its quarterly earnings results on Wednesday, May 11th. The asset manager reported $0.73 EPS for the quarter. The firm had revenue of $125.52 million during the quarter. Noah had a net margin of 30.16% and a return on equity of 15.27%. As a group, sell-side analysts predict that Noah will post 3.14 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in Noah by 300.9% in the 4th quarter. Russell Investments Group Ltd. now owns 57,731 shares of the asset manager’s stock worth $1,767,000 after purchasing an additional 43,329 shares in the last quarter. Dodge & Cox raised its stake in Noah by 8.1% in the 4th quarter. Dodge & Cox now owns 20,100 shares of the asset manager’s stock worth $617,000 after purchasing an additional 1,500 shares in the last quarter. Stonnington Group LLC acquired a new stake in Noah in the 4th quarter worth about $1,034,000. Bridgewater Associates LP raised its stake in Noah by 34.3% in the 4th quarter. Bridgewater Associates LP now owns 115,851 shares of the asset manager’s stock worth $3,555,000 after purchasing an additional 29,616 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Noah by 8.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,400 shares of the asset manager’s stock worth $238,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 64.19% of the company’s stock.

About Noah (Get Rating)

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. The company operates through three segments: Wealth Management, Asset Management, and Other Businesses.

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