Truist Financial Corp Acquires 1,903 Shares of Noah Holdings Limited (NYSE:NOAH)

Truist Financial Corp raised its holdings in Noah Holdings Limited (NYSE:NOAHGet Rating) by 25.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 9,488 shares of the asset manager’s stock after buying an additional 1,903 shares during the quarter. Truist Financial Corp’s holdings in Noah were worth $223,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Qube Research & Technologies Ltd purchased a new position in shares of Noah in the 4th quarter valued at approximately $248,000. PEAK6 Investments LLC lifted its stake in shares of Noah by 457.8% in the 4th quarter. PEAK6 Investments LLC now owns 8,111 shares of the asset manager’s stock valued at $249,000 after purchasing an additional 10,378 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Noah by 57.4% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,593 shares of the asset manager’s stock valued at $343,000 after purchasing an additional 4,228 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Noah by 16.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 11,379 shares of the asset manager’s stock valued at $349,000 after purchasing an additional 1,584 shares during the period. Finally, Public Sector Pension Investment Board purchased a new position in shares of Noah in the 4th quarter valued at approximately $373,000. Hedge funds and other institutional investors own 64.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NOAH shares. StockNews.com upgraded Noah from a “hold” rating to a “buy” rating in a research note on Tuesday, July 26th. JPMorgan Chase & Co. upgraded Noah from a “neutral” rating to an “overweight” rating and set a $22.00 price objective for the company in a research note on Wednesday, June 22nd.

Noah Trading Down 2.8 %

Shares of NYSE:NOAH opened at $17.40 on Friday. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 6.47, a PEG ratio of 0.53 and a beta of 1.19. The stock has a fifty day simple moving average of $18.01 and a two-hundred day simple moving average of $22.30. Noah Holdings Limited has a 12-month low of $15.06 and a 12-month high of $47.92.

Noah (NYSE:NOAHGet Rating) last posted its earnings results on Wednesday, May 11th. The asset manager reported $0.73 EPS for the quarter. The business had revenue of $125.52 million during the quarter. Noah had a return on equity of 15.27% and a net margin of 30.16%. As a group, equities research analysts predict that Noah Holdings Limited will post 3.27 EPS for the current year.

Noah Profile

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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. The company operates through three segments: Wealth Management, Asset Management, and Other Businesses.

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Institutional Ownership by Quarter for Noah (NYSE:NOAH)

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