Noah (NYSE:NOAH) Sets New 12-Month Low – Here’s Why

Noah Holdings Ltd. (NYSE:NOAH) shares reached a new 52-week low on Thursday . The company traded as low as $8.02 and last traded at $8.1540, with a volume of 13134 shares traded. The stock had previously closed at $8.23.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NOAH shares. JPMorgan Chase & Co. decreased their price target on shares of Noah from $12.00 to $11.50 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. Wall Street Zen cut shares of Noah from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings downgraded shares of Noah from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, July 10th. Finally, Zacks Research upgraded shares of Noah from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Noah currently has an average rating of “Hold” and an average target price of $10.75.

Noah Trading Down 0.4%

The stock has a market cap of $556.21 million, a P/E ratio of 6.62 and a beta of 0.82. The stock has a 50 day simple moving average of $8.71 and a 200 day simple moving average of $9.93.

Noah (NYSE:NOAH) last released its earnings results on Wednesday, August 26th. The asset manager reported $0.51 earnings per share for the quarter. The firm had revenue of $91.24 million during the quarter. Noah had a return on equity of 6.37% and a net margin of 22.57%. Equities analysts anticipate that Noah Holdings Ltd. will post 1.31 earnings per share for the current year.

Noah Increases Dividend

The company also recently announced an annual dividend, which was paid on Thursday, August 6th. Shareholders of record on Thursday, July 9th were issued a $1.3806 dividend. The ex-dividend date of this dividend was Thursday, July 9th. This represents a yield of 778.0%. This is an increase from Noah’s previous annual dividend of $1.16. Noah’s payout ratio is 51.22%.

Hedge Funds Weigh In On Noah

Hedge funds and other institutional investors have recently made changes to their positions in the company. Federation des caisses Desjardins du Quebec acquired a new stake in shares of Noah during the 4th quarter worth approximately $41,000. Quadrant Capital Group LLC acquired a new position in Noah during the third quarter valued at approximately $85,000. IMC Chicago LLC bought a new stake in Noah during the first quarter worth $100,000. Kestra Private Wealth Services LLC bought a new stake in Noah during the first quarter worth $103,000. Finally, Ramsey Quantitative Systems acquired a new stake in shares of Noah in the 2nd quarter valued at $105,000. 42.67% of the stock is currently owned by institutional investors and hedge funds.

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.