Arrowstreet Capital Limited Partnership Buys 21,178 Shares of Noah Holdings Limited (NYSE:NOAH)

Arrowstreet Capital Limited Partnership grew its stake in Noah Holdings Limited (NYSE:NOAH) by 12.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 185,996 shares of the asset manager’s stock after acquiring an additional 21,178 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Noah were worth $2,178,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NOAH. Ballentine Partners LLC grew its stake in Noah by 16.7% in the fourth quarter. Ballentine Partners LLC now owns 27,565 shares of the asset manager’s stock valued at $323,000 after acquiring an additional 3,948 shares during the period. Sei Investments Co. acquired a new stake in Noah during the 4th quarter worth approximately $167,000. Wolverine Trading LLC bought a new position in Noah in the third quarter valued at approximately $196,000. Public Employees Retirement System of Ohio acquired a new position in shares of Noah in the third quarter valued at approximately $199,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Noah by 113.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,216 shares of the asset manager’s stock worth $565,000 after acquiring an additional 25,578 shares in the last quarter. 42.67% of the stock is currently owned by institutional investors and hedge funds.

Noah Price Performance

Shares of NYSE NOAH opened at $8.29 on Friday. Noah Holdings Limited has a fifty-two week low of $7.14 and a fifty-two week high of $15.44. The stock has a market capitalization of $546.73 million, a price-to-earnings ratio of 7.08 and a beta of 0.78. The business has a 50-day moving average of $10.58 and a 200-day moving average of $11.45.

Noah (NYSE:NOAH) last posted its quarterly earnings results on Tuesday, March 25th. The asset manager reported $0.26 earnings per share for the quarter. Noah had a return on equity of 6.43% and a net margin of 23.53%. The firm had revenue of $89.31 million for the quarter, compared to analyst estimates of $102.07 million. On average, sell-side analysts expect that Noah Holdings Limited will post 0.93 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on NOAH. StockNews.com lowered Noah from a “buy” rating to a “hold” rating in a report on Thursday, March 20th. UBS Group restated a “neutral” rating and issued a $11.50 target price on shares of Noah in a research note on Friday, March 28th. Finally, JPMorgan Chase & Co. raised shares of Noah from a “neutral” rating to an “overweight” rating and set a $11.50 price target for the company in a research note on Wednesday.

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.