Davis Selected Advisers Has $16.23 Million Stake in Noah Holdings Limited (NYSE:NOAH)

Davis Selected Advisers increased its position in shares of Noah Holdings Limited (NYSE:NOAH) by 121.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,681,650 shares of the asset manager’s stock after purchasing an additional 923,122 shares during the period. Davis Selected Advisers owned approximately 2.54% of Noah worth $16,228,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Noah during the second quarter worth $510,000. Quadrature Capital Ltd boosted its holdings in Noah by 84.1% in the 1st quarter. Quadrature Capital Ltd now owns 36,410 shares of the asset manager’s stock valued at $415,000 after purchasing an additional 16,631 shares during the period. Trexquant Investment LP grew its position in shares of Noah by 68.8% during the 4th quarter. Trexquant Investment LP now owns 28,935 shares of the asset manager’s stock worth $400,000 after purchasing an additional 11,797 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Noah by 34.5% in the fourth quarter. Russell Investments Group Ltd. now owns 31,011 shares of the asset manager’s stock valued at $428,000 after buying an additional 7,961 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of Noah by 92.2% in the fourth quarter. Quadrant Capital Group LLC now owns 12,756 shares of the asset manager’s stock valued at $176,000 after buying an additional 6,120 shares during the period. 42.67% of the stock is currently owned by institutional investors.

Noah Stock Down 0.4 %

Shares of NOAH traded down $0.03 during midday trading on Monday, hitting $8.44. The company’s stock had a trading volume of 2,250 shares, compared to its average volume of 191,667. Noah Holdings Limited has a one year low of $7.14 and a one year high of $15.44. The stock has a market capitalization of $558.22 million, a price-to-earnings ratio of 4.73 and a beta of 0.76. The company’s fifty day simple moving average is $7.93 and its two-hundred day simple moving average is $10.52.

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

Noah Dividend Announcement

The company also recently declared an annual dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 3rd were paid a $2.1249 dividend. This represents a dividend yield of 10.4%. The ex-dividend date of this dividend was Wednesday, July 3rd. Noah’s payout ratio is 58.10%.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. cut Noah from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $13.00 in a report on Thursday, May 30th. StockNews.com cut shares of Noah from a “buy” rating to a “hold” rating in a research report on Friday, May 31st.

Noah 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.