HSG Holding Ltd Sells 2,479,905 Shares of Noah Holdings Ltd. $NOAH

HSG Holding Ltd cut its position in shares of Noah Holdings Ltd. (NYSE:NOAH) by 86.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 396,815 shares of the asset manager’s stock after selling 2,479,905 shares during the quarter. Noah accounts for 0.2% of HSG Holding Ltd’s portfolio, making the stock its 14th biggest holding. HSG Holding Ltd’s holdings in Noah were worth $4,496,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Noah in the 3rd quarter worth approximately $84,000. Quadrant Capital Group LLC bought a new stake in shares of Noah during the third quarter valued at approximately $85,000. New York State Common Retirement Fund acquired a new position in shares of Noah in the third quarter valued at $105,000. Centiva Capital LP acquired a new position in shares of Noah in the third quarter valued at $118,000. Finally, Creative Planning lifted its position in Noah by 10.6% in the third quarter. Creative Planning now owns 12,516 shares of the asset manager’s stock worth $145,000 after purchasing an additional 1,195 shares during the period. 42.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NOAH shares. Wall Street Zen lowered shares of Noah from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. UBS Group decreased their target price on shares of Noah from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, December 22nd. Zacks Research raised shares of Noah from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Noah in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.75.

Noah Stock Performance

Shares of NYSE NOAH opened at $11.42 on Monday. Noah Holdings Ltd. has a 52-week low of $7.67 and a 52-week high of $12.84. The business has a fifty day moving average of $11.61 and a two-hundred day moving average of $11.26. The stock has a market cap of $765.85 million, a PE ratio of 8.85 and a beta of 0.73.

Noah Company Profile

Noah Holdings Limited is a China-based wealth management and asset management firm specializing in tailored advisory services for high-net-worth individuals, family offices and select institutional clients. The company offers a broad range of investment solutions that draw on its deep market research and partner network to provide access to both onshore and offshore products. Noah’s business model centers on delivering structured investment products, portfolio management services and family wealth planning solutions designed to meet the evolving needs of affluent clients in China and beyond.

Noah’s main service lines include discretionary portfolio management, fund distribution, private equity and venture capital fund platforms, and alternative investment strategies such as real estate and insurance-linked products.