Noah (NYSE:NOAH) Issues Earnings Results

Noah (NYSE:NOAH) issued its earnings results on Wednesday. The asset manager reported $0.51 EPS for the quarter, FiscalAI reports. The business had revenue of $91.24 million for the quarter. Noah had a net margin of 22.57% and a return on equity of 6.37%.

Noah Trading Down 2.6%

NYSE:NOAH opened at $8.48 on Friday. The company has a market capitalization of $572.11 million, a P/E ratio of 6.90 and a beta of 0.81. Noah has a 12 month low of $8.14 and a 12 month high of $12.84. The firm has a fifty day simple moving average of $9.09 and a 200-day simple moving average of $10.20.

Noah Increases Dividend

The business also recently declared an annual dividend, which was paid on Thursday, August 6th. Shareholders of record on Thursday, July 9th were issued 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 was Thursday, July 9th. Noah’s dividend payout ratio is 58.33%.

Hedge Funds Weigh In On Noah

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Noah by 39.2% in the fourth quarter. Geode Capital Management LLC now owns 40,232 shares of the asset manager’s stock valued at $404,000 after purchasing an additional 11,332 shares during the period. Marshall Wace LLP acquired a new stake in shares of Noah during the second quarter worth about $306,000. Jump Financial LLC purchased a new stake in Noah in the fourth quarter valued at approximately $272,000. Public Employees Retirement System of Ohio increased 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 worth $254,000 after buying an additional 7,163 shares during the period. Finally, Cubist Systematic Strategies LLC raised its position in Noah by 307.2% during the 1st quarter. Cubist Systematic Strategies LLC now owns 17,980 shares of the asset manager’s stock worth $170,000 after buying an additional 13,564 shares during the last quarter. Hedge funds and other institutional investors own 42.67% of the company’s stock.

Analysts Set New Price Targets

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

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.