Everstar Asset Management LLC Takes Position in Noah Holdings Ltd. $NOAH

Key Points

• Everstar Asset Management LLC has invested $217,000 in Noah Holdings Ltd., acquiring 23,000 shares during the first quarter, according to a recent SEC filing.
• Noah Holdings reported a $0.37 earnings per share for the recent quarter, exceeding consensus estimates, and has a current consensus target price of $12.00.
• The company recently cut its dividend, paying $1.1572 per share with a yield of 830.0% and a payout ratio of 50.00%.

Everstar Asset Management LLC bought a new stake in shares of Noah Holdings Ltd. (NYSE:NOAH - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 23,000 shares of the asset manager's stock, valued at approximately $217,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of Noah by 9.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 391,159 shares of the asset manager's stock worth $4,578,000 after acquiring an additional 34,350 shares during the period. Northern Trust Corp grew its stake in shares of Noah by 31.2% during the 4th quarter. Northern Trust Corp now owns 90,258 shares of the asset manager's stock worth $1,057,000 after acquiring an additional 21,440 shares during the period. Bank of America Corp DE grew its stake in shares of Noah by 1,066.6% during the 4th quarter. Bank of America Corp DE now owns 83,902 shares of the asset manager's stock worth $982,000 after acquiring an additional 76,710 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Noah by 39.0% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,022 shares of the asset manager's stock worth $633,000 after acquiring an additional 18,806 shares during the period. Finally, Eschler Asset Management LLP grew its stake in shares of Noah by 70.8% during the 1st quarter. Eschler Asset Management LLP now owns 59,600 shares of the asset manager's stock worth $563,000 after acquiring an additional 24,700 shares during the period. Institutional investors own 42.67% of the company's stock.

Noah Stock Performance

NYSE NOAH traded down $0.19 during trading hours on Friday, hitting $11.80. The company had a trading volume of 171,889 shares, compared to its average volume of 345,527. Noah Holdings Ltd. has a 52 week low of $7.67 and a 52 week high of $14.90. The firm has a 50 day simple moving average of $12.07 and a 200 day simple moving average of $10.93. The firm has a market capitalization of $780.56 million, a price-to-earnings ratio of 10.53 and a beta of 0.90.

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

Noah Cuts Dividend

The business also recently announced an annual dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were paid a $1.1572 dividend. The ex-dividend date was Thursday, July 3rd. This represents a yield of 830.0%. Noah's dividend payout ratio (DPR) is currently 50.00%.

Analysts Set New Price Targets

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

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.