UBS Group Lowers Noah (NYSE:NOAH) to Neutral

UBS Group downgraded shares of Noah (NYSE:NOAH) from a buy rating to a neutral rating in a research report released on Thursday, MarketBeat.com reports. They currently have $13.00 target price on the asset manager’s stock.

Noah Stock Up 0.6 %

Shares of NYSE:NOAH opened at $12.53 on Thursday. The firm has a 50-day simple moving average of $10.38 and a 200 day simple moving average of $10.53. Noah has a fifty-two week low of $7.14 and a fifty-two week high of $15.44. The company has a market cap of $828.73 million, a PE ratio of 9.21 and a beta of 0.78.

Noah (NYSE:NOAH) last announced its quarterly earnings results on Wednesday, August 28th. The asset manager reported $0.21 earnings per share (EPS) for the quarter. The business 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%. As a group, research analysts forecast that Noah will post 1.37 EPS for the current fiscal year.

Noah announced that its Board of Directors has authorized 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 purchase up to 10.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NOAH. Signaturefd LLC increased its position in Noah by 2,218.7% in the 3rd quarter. Signaturefd LLC now owns 2,481 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 2,374 shares during the period. Headlands Technologies LLC acquired a new stake in Noah in the first quarter worth about $30,000. Blue Trust Inc. grew its position in Noah by 510.7% in the 3rd quarter. Blue Trust Inc. now owns 3,982 shares of the asset manager’s stock valued at $49,000 after buying an additional 3,330 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new position in Noah during the 1st quarter valued at about $40,000. Finally, Quadrature Capital Ltd raised its position in shares of Noah by 91.1% during the 4th quarter. Quadrature Capital Ltd now owns 19,779 shares of the asset manager’s stock worth $273,000 after buying an additional 9,429 shares in the last quarter. Institutional investors own 42.67% of the company’s stock.

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.