Noah (NYSE:NOAH) Sets New 1-Year Low – Here’s Why

Noah Holdings Ltd. (NYSE:NOAHGet Free Report)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $8.90 and last traded at $8.9150, with a volume of 1037 shares. The stock had previously closed at $10.25.

Analyst Upgrades and Downgrades

NOAH has been the topic of several recent research reports. Zacks Research raised Noah from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Weiss Ratings upgraded Noah from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 29th. Wall Street Zen downgraded Noah from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Noah from $12.00 to $11.50 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.75.

Check Out Our Latest Report on Noah

Noah Price Performance

The company’s fifty day simple moving average is $10.26 and its 200-day simple moving average is $10.76. The firm has a market capitalization of $598.96 million, a PE ratio of 8.22 and a beta of 0.80.

Noah Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Thursday, August 6th. Investors of record on Thursday, July 9th will be paid a dividend of $1.3806 per share. This is a positive change from Noah’s previous annual dividend of $1.16. The ex-dividend date is Thursday, July 9th. This represents a yield of 778.0%. Noah’s dividend payout ratio (DPR) is presently 62.04%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. FIL Ltd boosted its holdings in Noah by 7.1% in the fourth quarter. FIL Ltd now owns 6,377,766 shares of the asset manager’s stock worth $64,033,000 after acquiring an additional 424,717 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Noah during the second quarter valued at about $14,128,000. Dimensional Fund Advisors LP raised its position in shares of Noah by 9.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 468,510 shares of the asset manager’s stock valued at $4,641,000 after purchasing an additional 40,332 shares during the last quarter. Nuveen LLC raised its holdings in shares of Noah by 35.0% in the fourth quarter. Nuveen LLC now owns 454,675 shares of the asset manager’s stock worth $4,565,000 after buying an additional 117,971 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. raised its holdings in shares of Noah by 7.4% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 444,967 shares of the asset manager’s stock worth $4,467,000 after buying an additional 30,691 shares during the last quarter. 42.67% of the stock is owned by institutional investors and hedge funds.

Noah Company Profile

(Get Free Report)

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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