Creative Planning Makes New $206,000 Investment in Noah Holdings Limited (NYSE:NOAH)

Creative Planning acquired a new position in shares of Noah Holdings Limited (NYSE:NOAH) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,744 shares of the asset manager’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new stake in Noah in the second quarter valued at $615,000. Dimensional Fund Advisors LP raised its position in Noah by 50.5% in the second quarter. Dimensional Fund Advisors LP now owns 255,606 shares of the asset manager’s stock valued at $2,472,000 after purchasing an additional 85,771 shares during the period. JBF Capital Inc. purchased a new stake in Noah in the second quarter valued at $106,000. American Century Companies Inc. raised its position in Noah by 52.1% in the second quarter. American Century Companies Inc. now owns 89,904 shares of the asset manager’s stock valued at $868,000 after purchasing an additional 30,810 shares during the period. Finally, Davis Selected Advisers raised its position in Noah by 121.7% in the second quarter. Davis Selected Advisers now owns 1,681,650 shares of the asset manager’s stock valued at $16,228,000 after purchasing an additional 923,122 shares during the period. Institutional investors and hedge funds own 42.67% of the company’s stock.

Noah Trading Up 2.6 %

NOAH stock opened at $12.56 on Tuesday. The company has a market capitalization of $830.72 million, a PE ratio of 9.00 and a beta of 0.78. Noah Holdings Limited has a 12-month low of $7.14 and a 12-month high of $15.44. The business’s fifty day moving average price is $11.32 and its 200 day moving average price is $10.53.

Noah (NYSE:NOAH) last posted its quarterly earnings data on Wednesday, August 28th. The asset manager reported $0.21 earnings per share (EPS) for the quarter. The firm had revenue of $84.74 million for the quarter. Noah had a return on equity of 7.15% and a net margin of 26.81%. Research analysts predict that Noah Holdings Limited will post 1.37 EPS for the current fiscal year.

Noah announced that its board has initiated a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the asset manager to reacquire up to 10.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Separately, UBS Group downgraded Noah from a “buy” rating to a “neutral” rating and set a $13.00 target price on the stock. in a research report on Thursday, October 24th.

Noah Profile

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. It operates through three segments: Wealth Management, Asset Management, and Other Services.