Dai Ichi Life Insurance Company Ltd bought a new position in Noah Holdings Limited (NYSE:NOAH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,000 shares of the asset manager’s stock, valued at approximately $261,000.
A number of other large investors have also recently made changes to their positions in NOAH. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in shares of Noah during the 2nd quarter valued at about $158,000. SG Americas Securities LLC lifted its position in shares of Noah by 52.0% during the 1st quarter. SG Americas Securities LLC now owns 3,495 shares of the asset manager’s stock valued at $165,000 after buying an additional 1,195 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new position in shares of Noah during the 2nd quarter valued at about $266,000. Atria Investments LLC purchased a new position in shares of Noah during the 1st quarter valued at about $259,000. Finally, Confluence Investment Management LLC purchased a new position in shares of Noah during the 2nd quarter valued at about $299,000. 48.52% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently weighed in on NOAH shares. Nomura raised Noah from a “neutral” rating to a “buy” rating in a research report on Thursday, July 19th. ValuEngine cut Noah from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Finally, Zacks Investment Research raised Noah from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Tuesday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Noah presently has a consensus rating of “Buy” and an average price target of $53.50.
Shares of NOAH opened at $43.83 on Friday. The company has a market cap of $2.70 billion, a P/E ratio of 21.81 and a beta of 2.15. Noah Holdings Limited has a 12-month low of $26.53 and a 12-month high of $69.56. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.17 and a current ratio of 4.03.
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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