Creative Planning Acquires New Holdings in Noah Holdings Limited (NYSE:NOAH)

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

A number of other institutional investors also recently added to or reduced their stakes in the stock. Davis Selected Advisers boosted its position in Noah by 121.7% during 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 in the last quarter. Dimensional Fund Advisors LP boosted its position in Noah by 50.5% during 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 in the last quarter. American Century Companies Inc. boosted its position in Noah by 52.1% during 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 in the last quarter. AQR Capital Management LLC bought a new stake in Noah during the second quarter valued at about $615,000. Finally, SG Americas Securities LLC bought a new stake in Noah during the second quarter valued at about $510,000. Institutional investors own 42.67% of the company’s stock.

Analyst Upgrades and Downgrades

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

Noah Stock Up 2.6 %

Shares of NYSE:NOAH opened at $12.56 on Tuesday. The business has a 50-day moving average price of $11.32 and a 200-day moving average price of $10.53. The stock has a market cap of $830.72 million, a price-to-earnings ratio of 9.00 and a beta of 0.78. Noah Holdings Limited has a 52-week low of $7.14 and a 52-week high of $15.44.

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

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

About Noah

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.