Noah Holdings Ltd. (NYSE:NOAH – Get Free Report)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $8.02 and last traded at $8.1540, with a volume of 13134 shares trading hands. The stock had previously closed at $8.23.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the stock. Weiss Ratings lowered shares of Noah from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, July 10th. JPMorgan Chase & Co. dropped their price objective on Noah from $12.00 to $11.50 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. Zacks Research raised shares of Noah from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Wall Street Zen downgraded shares of Noah from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.75.
Check Out Our Latest Stock Analysis on NOAH
Noah Stock Down 0.4%
Noah (NYSE:NOAH – Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The asset manager reported $0.51 earnings per share (EPS) for the quarter. Noah had a return on equity of 6.37% and a net margin of 22.57%.The business had revenue of $91.24 million for the quarter. As a group, equities analysts anticipate that Noah Holdings Ltd. will post 1.31 EPS for the current fiscal year.
Noah Increases Dividend
The business 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 is a boost from Noah’s previous annual dividend of $1.16. This represents a dividend yield of 778.0%. The ex-dividend date was Thursday, July 9th. Noah’s dividend payout ratio (DPR) is currently 51.22%.
Hedge Funds Weigh In On Noah
Large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Noah during the second quarter valued at approximately $14,128,000. FIL Ltd increased its holdings in Noah by 7.1% during the 4th 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 during the period. Nuveen LLC lifted its stake in Noah by 35.0% in the 4th quarter. Nuveen LLC now owns 454,675 shares of the asset manager’s stock worth $4,565,000 after purchasing an additional 117,971 shares in the last quarter. Sei Investments Co. boosted its holdings in Noah by 549.8% in the 3rd quarter. Sei Investments Co. now owns 78,178 shares of the asset manager’s stock valued at $906,000 after purchasing an additional 66,146 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Noah by 132.4% during the 1st quarter. Renaissance Technologies LLC now owns 95,500 shares of the asset manager’s stock valued at $945,000 after purchasing an additional 54,400 shares in the last quarter. 42.67% of the stock is currently owned by institutional investors.
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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