Noah (NYSE:NOAH) Hits New 12-Month Low at $9.85

Noah Holdings Limited (NYSE:NOAH) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $9.85 and last traded at $9.97, with a volume of 74000 shares trading hands. The stock had previously closed at $10.12.

Wall Street Analysts Forecast Growth

NOAH has been the subject of a number of research reports. JPMorgan Chase & Co. lowered Noah from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $18.00 to $13.00 in a report on Thursday, May 30th. StockNews.com lowered Noah from a “buy” rating to a “hold” rating in a report on Friday, May 31st.

Noah Price Performance

The business has a fifty day simple moving average of $12.22 and a two-hundred day simple moving average of $12.13. The company has a market cap of $638.25 million, a PE ratio of 5.39 and a beta of 0.80.

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

Noah Announces Dividend

The company also recently declared an annual dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 3rd will be issued a dividend of $2.1249 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a dividend yield of 10.4%. Noah’s dividend payout ratio is currently 20.11%.

Institutional Trading of Noah

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrature Capital Ltd increased its holdings in Noah by 84.1% in the 1st quarter. Quadrature Capital Ltd now owns 36,410 shares of the asset manager’s stock valued at $415,000 after purchasing an additional 16,631 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Noah by 34.5% in the 4th quarter. Russell Investments Group Ltd. now owns 31,011 shares of the asset manager’s stock valued at $428,000 after buying an additional 7,961 shares during the period. Trexquant Investment LP boosted its position in Noah by 68.8% in the 4th quarter. Trexquant Investment LP now owns 28,935 shares of the asset manager’s stock valued at $400,000 after buying an additional 11,797 shares during the period. Dodge & Cox boosted its position in Noah by 15.0% in the 4th quarter. Dodge & Cox now owns 26,840 shares of the asset manager’s stock valued at $371,000 after buying an additional 3,500 shares during the period. Finally, Acadian Asset Management LLC boosted its position in Noah by 260.8% in the 3rd quarter. Acadian Asset Management LLC now owns 13,853 shares of the asset manager’s stock valued at $169,000 after buying an additional 10,014 shares during the period. 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.