Noah (NYSE:NOAH) Earns Hold Rating from Zacks Investment Research
According to Zacks, “Noah Holdings Ltd through its subsidiaries is engaged in providing independent services primarily comprising of distribution of wealth management products to the high net worth population in China. It distributes over-the-counter wealth management products originated in China which mainly includes fixed income products, private equity funds and securities investment funds. The Company also delivers to its clients a continuum of value-added services including financial planning, product analysis and recommendation, product and market updates and investor education. Noah Holdings Ltd is headquartered in Shenzhen, the Peoples’ Republic of China. “
Several other research firms have also weighed in on NOAH. Deutsche Bank lowered shares of Noah from a buy rating to a hold rating in a report on Wednesday, March 13th. Citigroup lowered shares of Noah from a buy rating to a neutral rating and set a $54.17 target price on the stock. in a report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. lowered shares of Noah from an overweight rating to a neutral rating and reduced their target price for the company from $55.00 to $52.00 in a report on Thursday, March 14th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $51.72.
Noah (NYSE:NOAH) last announced its quarterly earnings results on Thursday, May 16th. The asset manager reported $0.73 earnings per share for the quarter. The company had revenue of $132.60 million for the quarter. Noah had a net margin of 24.67% and a return on equity of 14.32%. As a group, analysts predict that Noah will post 2.74 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in shares of Noah in the 1st quarter worth about $49,000. Quadrant Capital Group LLC increased its position in shares of Noah by 103.2% in the 1st quarter. Quadrant Capital Group LLC now owns 2,528 shares of the asset manager’s stock worth $122,000 after purchasing an additional 1,284 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Noah by 46.4% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,424 shares of the asset manager’s stock valued at $187,000 after buying an additional 1,403 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Noah during the 1st quarter valued at about $209,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of Noah during the 4th quarter valued at about $227,000. 53.91% of the stock is owned by institutional investors.
Noah Company 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.
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