37,426 Shares in Noah Holdings Ltd. (NYSE:NOAH) Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC acquired a new stake in Noah Holdings Ltd. (NYSE:NOAH - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 37,426 shares of the asset manager's stock, valued at approximately $354,000. Janney Montgomery Scott LLC owned 0.06% of Noah at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in Noah by 1,066.6% in the 4th quarter. Bank of America Corp DE now owns 83,902 shares of the asset manager's stock valued at $982,000 after purchasing an additional 76,710 shares during the period. American Century Companies Inc. boosted its stake in shares of Noah by 51.8% in the 4th quarter. American Century Companies Inc. now owns 139,946 shares of the asset manager's stock valued at $1,639,000 after purchasing an additional 47,761 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new stake in shares of Noah in the 4th quarter valued at $454,000. Dimensional Fund Advisors LP boosted its stake in shares of Noah by 9.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 391,159 shares of the asset manager's stock valued at $4,578,000 after purchasing an additional 34,350 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Noah by 9.4% in the 4th quarter. Franklin Resources Inc. now owns 1,955,360 shares of the asset manager's stock valued at $22,897,000 after purchasing an additional 168,733 shares during the last quarter. Institutional investors own 42.67% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on NOAH shares. UBS Group reissued a "neutral" rating and set a $11.50 target price on shares of Noah in a research note on Friday, March 28th. JPMorgan Chase & Co. raised shares of Noah from a "neutral" rating to an "overweight" rating and set a $11.50 price objective on the stock in a research note on Wednesday, April 9th. Finally, Wall Street Zen lowered shares of Noah from a "buy" rating to a "hold" rating in a research note on Thursday, March 20th.

Noah Stock Down 10.7%

NYSE NOAH traded down $1.35 during trading hours on Friday, reaching $11.25. 138,560 shares of the company were exchanged, compared to its average volume of 170,671. The stock has a market capitalization of $744.08 million, a P/E ratio of 11.59 and a beta of 0.88. The business's 50 day simple moving average is $10.74 and its 200-day simple moving average is $10.60. Noah Holdings Ltd. has a 1 year low of $7.21 and a 1 year high of $14.90.

Noah (NYSE:NOAH - Get Free Report) last posted its earnings results on Wednesday, May 28th. The asset manager reported $0.33 earnings per share for the quarter. The firm had revenue of $84.69 million during the quarter. Noah had a net margin of 19.22% and a return on equity of 5.62%. As a group, sell-side analysts anticipate that Noah Holdings Ltd. will post 0.93 earnings per share for the current year.

Noah Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be given a $1.1572 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a dividend yield of 8.3%. Noah's dividend payout ratio (DPR) is currently 117.53%.

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.