Noah Holdings Limited (NYSE:NOAH – Get Rating) has been given an average rating of “Buy” by the six research firms that currently cover the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The 1-year average price target among analysts who have reported on the stock in the past year is $45.81.
A number of stock analysts have weighed in on the company. Bank of America cut its price target on Noah from $51.50 to $35.00 and set a “buy” rating for the company in a Wednesday, March 16 report. Zacks Investment Research downgraded Noah from a “strong sell” rating to a “hold” rating and set a price target of $30.00 on the stock in a research report on Saturday, March 19. Finally, StockNews.com began covering Noah in a research note on Thursday, March 31. They issued a “buy” rating on the stock.
NYSE NOAH opened at $21.67 on Wednesday. Noah has a 12-month low of $18.72 and a 12-month high of $49.88. The company has a market capitalization of $1.35 billion, a P/E ratio of 7.20, a P/E/G ratio of 0.48 and a beta of 1.25. The company has a 50-day moving average of $26.06 and a 200-day moving average of $31.98.
Several large investors have recently increased or reduced their stake in NOAH. PNC Financial Services Group Inc. increased its stake in Noah by 23.7% in Q3. PNC Financial Services Group Inc. now owns 1,200 shares of the asset manager valued at $44,000 after purchasing an additional 230 shares during the period. Marshall Wace LLP acquired a new position in Noah during Q1 worth approximately $49,000. US Bancorp DE increased its position in Noah by 6.9% in the third quarter. US Bancorp DE now owns 3,895 shares of the asset manager worth $145,000 after buying 251 more shares last quarter. Caisse DE Dépôt ET Placement DU Québec increased its stake in Noah by 7.4% during the third quarter. Caisse DE Dépôt ET Placement DU Quebec now owns 5,791 shares of the asset manager worth $215,000 after purchasing 400 additional shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Noah by 8.5% during the third quarter. The Manufacturers Life Insurance Company now owns 6,400 shares of the asset manager worth $238,000 after purchasing an additional 500 shares in the last quarter. 65.19% of the shares are currently held by institutional investors.
About Noah (Get an evaluation)
Noah Holdings Limited, through its subsidiaries, operates as a provider of wealth and asset management services focusing on investment and asset allocation services for high net worth individuals and businesses in mainland China, Hong Kong and internationally. The Company operates through three segments: Wealth Management, Asset Management, Lending and Other Services.
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