Eschler Asset Management LLP Acquires 24,700 Shares of Noah Holdings Ltd. $NOAH

Key Points

• Eschler Asset Management LLP increased its holdings in Noah Holdings Ltd. by 70.8% during the first quarter, acquiring 24,700 shares to reach a total of 59,600 shares in their portfolio.
• Analysts have recently upgraded Noah from a "hold" to a "buy" rating, with a new average price target set at $12.00.
• Noah Holdings announced a dividend yield of 830.0% with a payout ratio of 50.00%, despite a recent cut in its dividend payments.

Eschler Asset Management LLP boosted its holdings in shares of Noah Holdings Ltd. (NYSE:NOAH - Free Report) by 70.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,600 shares of the asset manager's stock after purchasing an additional 24,700 shares during the period. Noah accounts for approximately 1.4% of Eschler Asset Management LLP's holdings, making the stock its 26th largest holding. Eschler Asset Management LLP owned approximately 0.09% of Noah worth $563,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its stake in shares of Noah by 1,188.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the asset manager's stock worth $28,000 after purchasing an additional 2,187 shares during the period. Cubist Systematic Strategies LLC bought a new position in Noah in the fourth quarter valued at approximately $52,000. BNP Paribas Financial Markets bought a new stake in shares of Noah in the fourth quarter valued at about $72,000. Hsbc Holdings PLC bought a new stake in shares of Noah in the fourth quarter valued at about $150,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Noah by 18.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 19,085 shares of the asset manager's stock valued at $223,000 after purchasing an additional 2,930 shares in the last quarter. 42.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Noah from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $12.00.

Noah Trading Up 1.3%

NYSE:NOAH traded up $0.15 during trading hours on Tuesday, hitting $12.04. 124,581 shares of the company were exchanged, compared to its average volume of 146,151. The stock has a market capitalization of $796.52 million, a price-to-earnings ratio of 10.75 and a beta of 0.90. Noah Holdings Ltd. has a one year low of $7.67 and a one year high of $14.90. The company has a fifty day simple moving average of $12.06 and a 200 day simple moving average of $10.91.

Noah (NYSE:NOAH - Get Free Report) last released its quarterly earnings results on Wednesday, August 27th. The asset manager reported $0.37 earnings per share (EPS) for the quarter. The business had revenue of $87.87 million during the quarter, compared to the consensus estimate of $86.31 million. Noah had a return on equity of 6.44% and a net margin of 22.17%. Equities research analysts predict that Noah Holdings Ltd. will post 0.93 earnings per share for the current fiscal year.

Noah Cuts Dividend

The firm also recently declared an annual dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were given a dividend of $1.1572 per share. This represents a yield of 830.0%. The ex-dividend date was Thursday, July 3rd. Noah's dividend payout ratio is presently 49.11%.

Noah Profile

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.