Noah (NYSE:NOAH) Trading Down 5.8%

Noah Holdings Limited (NYSE:NOAH)’s stock price fell 5.8% on Tuesday . The company traded as low as $7.65 and last traded at $7.68. 144,548 shares changed hands during trading, a decline of 21% from the average session volume of 183,463 shares. The stock had previously closed at $8.15.

Analysts Set New Price Targets

A number of research firms have weighed in on NOAH. JPMorgan Chase & Co. lowered shares of Noah from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $13.00 in a research note on Thursday, May 30th. StockNews.com lowered shares of Noah from a “buy” rating to a “hold” rating in a research note on Friday, May 31st.

Noah Price Performance

The business’s 50 day moving average price is $11.62 and its 200 day moving average price is $11.83. The stock has a market capitalization of $529.78 million, a P/E ratio of 4.39 and a beta of 0.76.

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

Noah Dividend Announcement

The firm also recently disclosed an annual dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 3rd will be issued a $2.1249 dividend. This represents a dividend yield of 10.4%. The ex-dividend date is Wednesday, July 3rd. Noah’s payout ratio is 58.10%.

Hedge Funds Weigh In On Noah

Institutional investors and hedge funds have recently made changes to their positions in the business. Trexquant Investment LP boosted its holdings in shares of Noah by 68.8% in the fourth quarter. Trexquant Investment LP now owns 28,935 shares of the asset manager’s stock worth $400,000 after buying an additional 11,797 shares during the last quarter. Dodge & Cox boosted its holdings in shares of Noah by 15.0% in the fourth quarter. Dodge & Cox now owns 26,840 shares of the asset manager’s stock worth $371,000 after buying an additional 3,500 shares during the last quarter. Quadrature Capital Ltd boosted its holdings in shares of Noah by 91.1% in the fourth quarter. Quadrature Capital Ltd now owns 19,779 shares of the asset manager’s stock worth $273,000 after buying an additional 9,429 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Noah by 92.2% in the fourth quarter. Quadrant Capital Group LLC now owns 12,756 shares of the asset manager’s stock worth $176,000 after buying an additional 6,120 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Noah by 34.5% during the fourth quarter. Russell Investments Group Ltd. now owns 31,011 shares of the asset manager’s stock valued at $428,000 after purchasing an additional 7,961 shares in the last quarter. Hedge funds and other institutional investors 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.