16,155 Shares in Noah Holdings Limited (NYSE:NOAH) Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new stake in Noah Holdings Limited (NYSE:NOAH) in the third quarter, Holdings Channel reports. The fund acquired 16,155 shares of the asset manager’s stock, valued at approximately $199,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Davis Selected Advisers lifted its holdings in shares of Noah by 121.7% in the 2nd quarter. Davis Selected Advisers now owns 1,681,650 shares of the asset manager’s stock worth $16,228,000 after purchasing an additional 923,122 shares in the last quarter. FMR LLC acquired a new position in Noah during the third quarter worth $8,895,000. First Beijing Investment Ltd acquired a new position in Noah during the third quarter worth $1,531,000. Dimensional Fund Advisors LP lifted its stake in shares of 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 buying an additional 85,771 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new position in shares of Noah during the second quarter valued at about $615,000. Institutional investors own 42.67% of the company’s stock.

Noah Price Performance

NOAH opened at $11.61 on Friday. Noah Holdings Limited has a fifty-two week low of $7.14 and a fifty-two week high of $15.44. The firm has a market capitalization of $769.13 million, a P/E ratio of 9.92 and a beta of 0.80. The company’s 50-day moving average is $12.28 and its 200 day moving average is $10.26.

Noah declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the asset manager to reacquire up to 10.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. UBS Group cut shares of Noah from a “buy” rating to a “neutral” rating and set a $13.00 price target on the stock. in a research report on Thursday, October 24th. Morgan Stanley lowered Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 target price on the stock. in a report on Friday, November 29th.

Noah Company 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.