Legal & General Group Plc boosted its stake in Noah Holdings Limited (NYSE:NOAH) by 1,899.6% in the 2nd quarter, Holdings Channel reports. The firm owned 61,988 shares of the asset manager’s stock after purchasing an additional 58,888 shares during the period. Legal & General Group Plc’s holdings in Noah were worth $3,232,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. SG Americas Securities LLC boosted its position in Noah by 52.0% in the 1st quarter. SG Americas Securities LLC now owns 3,495 shares of the asset manager’s stock valued at $165,000 after buying an additional 1,195 shares during the period. Atria Investments LLC boosted its position in Noah by 24.1% in the 2nd quarter. Atria Investments LLC now owns 6,803 shares of the asset manager’s stock valued at $355,000 after buying an additional 1,320 shares during the period. Northern Trust Corp boosted its position in Noah by 1.3% in the 1st quarter. Northern Trust Corp now owns 114,239 shares of the asset manager’s stock valued at $5,392,000 after buying an additional 1,452 shares during the period. Jane Street Group LLC boosted its position in Noah by 24.8% in the 1st quarter. Jane Street Group LLC now owns 8,988 shares of the asset manager’s stock valued at $424,000 after buying an additional 1,784 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in Noah in the 2nd quarter valued at approximately $158,000. Hedge funds and other institutional investors own 48.52% of the company’s stock.

Several equities analysts have commented on the stock. Deutsche Bank assumed coverage on shares of Noah in a research report on Wednesday, September 12th. They issued a “buy” rating for the company. Zacks Investment Research raised shares of Noah from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Tuesday, September 4th. Nomura raised shares of Noah from a “neutral” rating to a “buy” rating in a research report on Thursday, July 19th. Finally, ValuEngine cut shares of Noah from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $53.50.

Noah stock opened at $41.77 on Friday. The firm has a market cap of $2.37 billion, a PE ratio of 20.96 and a beta of 2.15. Noah Holdings Limited has a 12-month low of $31.03 and a 12-month high of $69.56. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.03 and a quick ratio of 4.03.

Noah Profile

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: Understanding Price to Earnings Ratio (PE)

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Institutional Ownership by Quarter for Noah (NYSE:NOAH)

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