Northern Trust Corp Buys 101,495 Shares of Noah Holdings Limited (NOAH)

Northern Trust Corp boosted its stake in shares of Noah Holdings Limited (NYSE:NOAH) by 88.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 215,734 shares of the asset manager’s stock after buying an additional 101,495 shares during the period. Northern Trust Corp owned 0.38% of Noah worth $11,250,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOAH. Hillhouse Capital Management Ltd. acquired a new position in Noah during the second quarter worth $46,515,000. BlackRock Inc. boosted its stake in Noah by 177.8% during the second quarter. BlackRock Inc. now owns 1,291,219 shares of the asset manager’s stock worth $67,336,000 after buying an additional 826,436 shares during the last quarter. Mckinley Capital Management LLC Delaware acquired a new position in Noah during the second quarter worth $4,707,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Noah in the second quarter valued at $4,489,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Noah in the second quarter valued at $4,073,000. 49.37% of the stock is currently owned by institutional investors.

NYSE:NOAH opened at $43.38 on Friday. Noah Holdings Limited has a 52 week low of $34.20 and a 52 week high of $69.56. The company has a current ratio of 4.03, a quick ratio of 4.03 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 21.41 and a beta of 1.94.

Noah (NYSE:NOAH) last posted its earnings results on Tuesday, August 28th. The asset manager reported $0.45 EPS for the quarter. Noah had a return on equity of 17.17% and a net margin of 26.20%. The company had revenue of $121.26 million for the quarter. On average, research analysts predict that Noah Holdings Limited will post 2.45 EPS for the current fiscal year.

A number of equities research analysts have commented on NOAH shares. ValuEngine upgraded Noah from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Zacks Investment Research downgraded Noah from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 31st. Deutsche Bank started coverage on Noah in a research report on Wednesday, September 12th. They issued a “buy” rating on the stock. Finally, Nomura upgraded Noah from a “neutral” rating to a “buy” rating in a research report on Thursday, July 19th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $53.50.

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About Noah

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.

Further Reading: Cost of Capital

Institutional Ownership by Quarter for Noah (NYSE:NOAH)

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