According to Zacks, “Noah Holdings Ltd through its subsidiaries is engaged in providing independent services primarily comprising of distribution of wealth management products to the high net worth population in China. It distributes over-the-counter wealth management products originated in China which mainly includes fixed income products, private equity funds and securities investment funds. The Company also delivers to its clients a continuum of value-added services including financial planning, product analysis and recommendation, product and market updates and investor education. Noah Holdings Ltd is headquartered in Shenzhen, the Peoples’ Republic of China. “
NOAH has been the subject of several other research reports. Citigroup cut shares of Noah from a buy rating to a neutral rating and set a $54.17 price objective for the company. in a research note on Wednesday, April 17th. JPMorgan Chase & Co. cut shares of Noah from an overweight rating to a neutral rating and reduced their price objective for the company from $55.00 to $52.00 in a research note on Thursday, March 14th. Finally, Deutsche Bank cut shares of Noah from a buy rating to a hold rating in a research note on Wednesday, March 13th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Noah presently has an average rating of Hold and a consensus target price of $51.72.
Noah (NYSE:NOAH) last announced its quarterly earnings data on Tuesday, March 12th. The asset manager reported $0.37 EPS for the quarter. Noah had a net margin of 24.75% and a return on equity of 15.00%. The firm had revenue of $119.57 million during the quarter. On average, research analysts forecast that Noah will post 2.84 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in NOAH. Bank of New York Mellon Corp lifted its stake in shares of Noah by 6.3% in the third quarter. Bank of New York Mellon Corp now owns 33,494 shares of the asset manager’s stock valued at $1,411,000 after purchasing an additional 1,986 shares during the period. Teachers Advisors LLC raised its position in Noah by 15.1% during the third quarter. Teachers Advisors LLC now owns 14,500 shares of the asset manager’s stock worth $611,000 after acquiring an additional 1,900 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Noah by 4.7% during the third quarter. TIAA CREF Investment Management LLC now owns 33,700 shares of the asset manager’s stock worth $1,420,000 after acquiring an additional 1,500 shares during the last quarter. Concorde Asset Management LLC acquired a new position in Noah during the fourth quarter worth about $240,000. Finally, Boston Common Asset Management LLC acquired a new position in Noah during the fourth quarter worth about $748,000. Hedge funds and other institutional investors own 52.50% of the company’s stock.
Noah Company Profile
Noah Holdings Limited, through its subsidiaries, operates as a wealth and asset management service provider with focus on wealth investment and asset allocation services for high net worth individuals and enterprises in the People's Republic of China. The company operates through three segments: Wealth Management, Asset Management, and Other Financial Service.
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