Noah (NYSE:NOAH – Get Free Report) announced its earnings results on Tuesday. The asset manager reported $0.51 earnings per share (EPS) for the quarter, FiscalAI reports. Noah had a return on equity of 5.80% and a net margin of 20.28%.
Noah Stock Performance
Noah stock traded up $0.06 during midday trading on Tuesday, reaching $8.76. 102,743 shares of the company’s stock were exchanged, compared to its average volume of 111,531. The stock’s 50-day simple moving average is $9.19 and its 200 day simple moving average is $10.26. The firm has a market cap of $590.52 million, a price-to-earnings ratio of 8.11 and a beta of 0.81. Noah has a 52 week low of $8.14 and a 52 week high of $12.84.
Noah Increases Dividend
The firm also recently declared an annual dividend, which was paid on Thursday, August 6th. Investors of record on Thursday, July 9th were issued a dividend of $1.3806 per share. The ex-dividend date was Thursday, July 9th. This is an increase from Noah’s previous annual dividend of $1.16. This represents a yield of 778.0%. Noah’s dividend payout ratio is 58.33%.
Analysts Set New Price Targets
Read Our Latest Report on Noah
Institutional Trading of Noah
Several institutional investors and hedge funds have recently bought and sold shares of the business. Creative Planning increased its holdings in shares of Noah by 10.6% in the third quarter. Creative Planning now owns 12,516 shares of the asset manager’s stock valued at $145,000 after purchasing an additional 1,195 shares during the last quarter. American Century Companies Inc. raised its holdings in Noah by 1.5% in the 2nd quarter. American Century Companies Inc. now owns 139,499 shares of the asset manager’s stock valued at $1,666,000 after acquiring an additional 2,084 shares during the period. Bank of America Corp DE raised its holdings in Noah by 2.2% in the 2nd quarter. Bank of America Corp DE now owns 99,919 shares of the asset manager’s stock valued at $1,193,000 after acquiring an additional 2,163 shares during the period. BNP Paribas Financial Markets lifted its position in Noah by 17.7% during the third quarter. BNP Paribas Financial Markets now owns 16,070 shares of the asset manager’s stock worth $186,000 after acquiring an additional 2,412 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Noah by 10.0% during the second quarter. Russell Investments Group Ltd. now owns 35,627 shares of the asset manager’s stock worth $429,000 after acquiring an additional 3,251 shares during the last quarter. Institutional investors own 42.67% of the company’s stock.
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.
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