Point72 Asset Management L.P. Purchases Shares of 45,867 Noah Holdings Limited (NYSE:NOAH)

Point72 Asset Management L.P. purchased a new position in Noah Holdings Limited (NYSE:NOAH - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 45,867 shares of the asset manager's stock, valued at approximately $566,000. Point72 Asset Management L.P. owned about 0.07% of Noah as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in Noah during the second quarter valued at about $510,000. Davis Selected Advisers grew its position in Noah by 121.7% during the 2nd quarter. Davis Selected Advisers now owns 1,681,650 shares of the asset manager's stock worth $16,228,000 after purchasing an additional 923,122 shares in the last quarter. American Century Companies Inc. raised its stake in Noah by 52.1% during the 2nd quarter. American Century Companies Inc. now owns 89,904 shares of the asset manager's stock valued at $868,000 after purchasing an additional 30,810 shares during the period. JBF Capital Inc. purchased a new stake in Noah in the 2nd quarter worth about $106,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Noah by 50.5% in the second quarter. Dimensional Fund Advisors LP now owns 255,606 shares of the asset manager's stock worth $2,472,000 after purchasing an additional 85,771 shares in the last quarter. Institutional investors own 42.67% of the company's stock.

Noah Stock Up 2.4 %

NOAH stock traded up $0.28 during trading hours on Thursday, hitting $12.00. The company's stock had a trading volume of 563,831 shares, compared to its average volume of 195,018. The company has a market capitalization of $793.74 million, a PE ratio of 10.26 and a beta of 0.80. The stock has a 50 day moving average price of $12.53 and a two-hundred day moving average price of $10.27. Noah Holdings Limited has a 12 month low of $7.14 and a 12 month high of $15.44.

Noah announced that its board has authorized a stock buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the asset manager to purchase up to 10.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

NOAH has been the topic of several research analyst reports. Morgan Stanley cut shares of Noah from an "overweight" rating to an "equal weight" rating and set a $13.00 price target on the stock. in a report on Friday, November 29th. UBS Group downgraded Noah from a "buy" rating to a "neutral" rating and set a $13.00 target price on the stock. in a research note on Thursday, October 24th.

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.