Noah (NYSE:NOAH) Hits New 12-Month Low – Here’s What Happened

Noah Holdings Ltd. (NYSE:NOAH) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $8.61 and last traded at $8.6350, with a volume of 47375 shares changing hands. The stock had previously closed at $8.84.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NOAH shares. JPMorgan Chase & Co. reduced their price target on shares of Noah from $12.00 to $11.50 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Wall Street Zen upgraded Noah from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Zacks Research upgraded Noah from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Finally, Weiss Ratings lowered Noah from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, July 10th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Noah currently has a consensus rating of “Hold” and an average price target of $10.75.

Noah Trading Down 1.2%

The business has a fifty day simple moving average of $9.90 and a two-hundred day simple moving average of $10.67. The company has a market cap of $575.69 million, a PE ratio of 7.90 and a beta of 0.80.

Noah Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Thursday, August 6th. Stockholders of record on Thursday, July 9th will be paid a $1.3806 dividend. This is an increase from Noah’s previous annual dividend of $1.16. This represents a dividend yield of 778.0%. The ex-dividend date of this dividend is Thursday, July 9th. Noah’s payout ratio is 62.04%.

Hedge Funds Weigh In On Noah

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio raised its holdings in Noah by 48.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 21,950 shares of the asset manager’s stock valued at $254,000 after acquiring an additional 7,163 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in Noah by 307.2% in the 1st quarter. Cubist Systematic Strategies LLC now owns 17,980 shares of the asset manager’s stock worth $170,000 after purchasing an additional 13,564 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of Noah during the 3rd quarter worth approximately $158,000. Envestnet Asset Management Inc. acquired a new position in shares of Noah during the 3rd quarter worth approximately $151,000. Finally, Creative Planning boosted its holdings in shares of Noah by 10.6% during the 3rd quarter. Creative Planning now owns 12,516 shares of the asset manager’s stock worth $145,000 after purchasing an additional 1,195 shares during the last quarter. 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.