Noah (NYSE:NOAH) Sees Strong Trading Volume

Noah Holdings Limited (NYSE:NOAH) shares saw an uptick in trading volume on Thursday . 53,279 shares were traded during trading, a decline of 71% from the previous session’s volume of 186,886 shares.The stock last traded at $7.87 and had previously closed at $7.82.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lowered Noah from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $18.00 to $13.00 in a research report on Thursday, May 30th. StockNews.com cut Noah from a “buy” rating to a “hold” rating in a research note on Friday, May 31st.

Noah Trading Down 0.4 %

The business’s fifty day moving average price is $8.37 and its two-hundred day moving average price is $10.80. The firm has a market cap of $530.42 million, a P/E ratio of 4.48 and a beta of 0.76.

Noah (NYSE:NOAH) last posted its earnings results on Wednesday, May 29th. The asset manager reported $0.32 earnings per share for the quarter. The company had revenue of $89.96 million for the quarter. Noah had a return on equity of 9.08% and a net margin of 31.26%. Research analysts predict that Noah Holdings Limited will post 1.37 EPS for the current fiscal year.

Noah Announces Dividend

The business also recently announced an annual dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 3rd were issued a $2.1249 dividend. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a yield of 10.4%. Noah’s dividend payout ratio (DPR) is currently 57.54%.

Hedge Funds Weigh In On Noah

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOAH. Davis Selected Advisers grew its stake in Noah by 121.7% in the 2nd quarter. Davis Selected Advisers now owns 1,681,650 shares of the asset manager’s stock valued at $16,228,000 after buying an additional 923,122 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Noah by 50.5% during the second quarter. Dimensional Fund Advisors LP now owns 255,606 shares of the asset manager’s stock valued at $2,472,000 after acquiring an additional 85,771 shares during the period. American Century Companies Inc. grew its position in shares of Noah by 52.1% in the second quarter. American Century Companies Inc. now owns 89,904 shares of the asset manager’s stock valued at $868,000 after purchasing an additional 30,810 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Noah in the second quarter worth about $615,000. Finally, SG Americas Securities LLC acquired a new position in shares of Noah during the 2nd quarter worth about $510,000. Institutional investors and hedge funds own 42.67% of the company’s stock.

About Noah

Noah Holdings Limited, together with its subsidiaries, operates as a wealth and asset management service provider with the focus on investment and asset allocation services for high net worth individuals and enterprises in Mainland of China, Hong Kong, and internationally. It operates through three segments: Wealth Management, Asset Management, and Other Services.