Shares of Noah Holdings Ltd. (NYSE:NOAH – Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $8.57, but opened at $8.27. Noah shares last traded at $8.3460, with a volume of 1,523 shares traded.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. Weiss Ratings lowered Noah from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. reduced their target price on Noah from $12.00 to $11.50 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Zacks Research raised Noah from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Finally, Wall Street Zen downgraded Noah from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.75.
Check Out Our Latest Report on NOAH
Noah Trading Down 0.4%
Noah (NYSE:NOAH – Get Free Report) last posted its quarterly earnings data on Wednesday, August 26th. The asset manager reported $0.51 EPS for the quarter. Noah had a return on equity of 6.37% and a net margin of 22.57%.The company had revenue of $91.24 million during the quarter. Research analysts forecast that Noah Holdings Ltd. will post 1.31 earnings per share for the current year.
Noah Increases Dividend
The firm also recently declared an annual dividend, which was paid on Thursday, August 6th. Stockholders of record on Thursday, July 9th were given a dividend of $1.3806 per share. This represents a dividend yield of 778.0%. The ex-dividend date of this dividend was Thursday, July 9th. This is an increase from Noah’s previous annual dividend of $1.16. Noah’s payout ratio is currently 51.22%.
Hedge Funds Weigh In On Noah
Institutional investors and hedge funds have recently made changes to their positions in the business. Federation des caisses Desjardins du Quebec purchased a new stake in Noah during the fourth quarter valued at approximately $41,000. Quadrant Capital Group LLC bought a new stake in shares of Noah during the 3rd quarter valued at $85,000. IMC Chicago LLC purchased a new stake in shares of Noah in the 1st quarter worth $100,000. Centiva Capital LP purchased a new stake in shares of Noah in the 3rd quarter worth $118,000. Finally, Kestra Private Wealth Services LLC bought a new position in Noah in the 1st quarter worth $103,000. Hedge funds and other institutional investors own 42.67% of the company’s stock.
About Noah
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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