Noah (NYSE:NOAH) Cut to Neutral at UBS Group

UBS Group lowered shares of Noah (NYSE:NOAH) from a buy rating to a neutral rating in a research note published on Thursday morning, Marketbeat.com reports. UBS Group currently has $13.00 target price on the asset manager’s stock.

Noah Stock Up 0.6 %

NOAH stock opened at $12.53 on Thursday. The company has a market capitalization of $828.73 million, a price-to-earnings ratio of 9.21 and a beta of 0.78. The firm has a 50 day moving average of $10.38 and a two-hundred day moving average of $10.51. Noah has a 12 month low of $7.14 and a 12 month high of $15.44.

Noah (NYSE:NOAH) last posted its earnings results on Wednesday, August 28th. The asset manager reported $0.21 EPS for the quarter. Noah had a net margin of 26.81% and a return on equity of 7.15%. The firm had revenue of $84.74 million for the quarter. On average, research analysts expect that Noah will post 1.37 EPS for the current fiscal year.

Noah announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the asset manager to reacquire up to 10.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

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