Pictet Asset Management Ltd. lessened its holdings in Noah Holdings Limited (NYSE:NOAH) by 78.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,299 shares of the asset manager’s stock after selling 179,357 shares during the quarter. Pictet Asset Management Ltd. owned 0.08% of Noah worth $2,055,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Marshall Wace LLP acquired a new stake in shares of Noah in the 1st quarter valued at $49,000. Quantamental Technologies LLC acquired a new stake in shares of Noah in the 2nd quarter valued at $52,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Noah in the 2nd quarter valued at $55,000. Guinness Asset Management Ltd boosted its holdings in shares of Noah by 13.8% in the 2nd quarter. Guinness Asset Management Ltd now owns 2,810 shares of the asset manager’s stock valued at $120,000 after purchasing an additional 340 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. boosted its holdings in shares of Noah by 100.0% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 3,800 shares of the asset manager’s stock valued at $162,000 after purchasing an additional 1,900 shares in the last quarter. 54.26% of the stock is currently owned by hedge funds and other institutional investors.
NOAH has been the topic of several recent research reports. TheStreet downgraded Noah from a “b” rating to a “c+” rating in a report on Tuesday, July 9th. Citigroup raised Noah from a “neutral” rating to a “buy” rating in a report on Monday. ValuEngine downgraded Noah from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. raised Noah from a “neutral” rating to an “overweight” rating and set a $52.00 price objective on the stock in a report on Wednesday, May 29th. Finally, Zacks Investment Research raised Noah from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $53.09.
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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