Janney Montgomery Scott LLC Makes New $354,000 Investment in Noah Holdings Ltd. (NYSE:NOAH)

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

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake in shares of Noah by 1,188.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the asset manager's stock valued at $28,000 after buying an additional 2,187 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Noah by 18.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 19,085 shares of the asset manager's stock valued at $223,000 after buying an additional 2,930 shares during the period. Public Employees Retirement Association of Colorado acquired a new stake in shares of Noah in the 4th quarter valued at $39,000. Barclays PLC grew its stake in shares of Noah by 14.0% during the fourth quarter. Barclays PLC now owns 28,660 shares of the asset manager's stock worth $335,000 after purchasing an additional 3,524 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Noah during the fourth quarter worth $52,000. 42.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NOAH has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised Noah from a "neutral" rating to an "overweight" rating and set a $11.50 price objective for the company in a research note on Wednesday, April 9th. Wall Street Zen cut Noah from a "buy" rating to a "hold" rating in a research note on Thursday, March 20th. Finally, UBS Group reiterated a "neutral" rating and set a $11.50 target price on shares of Noah in a report on Friday, March 28th.

Noah Stock Performance

NOAH stock traded up $0.22 during midday trading on Tuesday, hitting $11.56. 101,871 shares of the company's stock were exchanged, compared to its average volume of 168,297. The company has a market cap of $764.93 million, a PE ratio of 11.92 and a beta of 0.88. The stock's fifty day moving average price is $10.82 and its 200-day moving average price is $10.60. Noah Holdings Ltd. has a one year low of $7.21 and a one year high of $14.90.

Noah (NYSE:NOAH - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The asset manager reported $0.33 EPS for the quarter. The company had revenue of $84.69 million for the quarter. Noah had a return on equity of 5.62% and a net margin of 19.22%. On average, analysts expect that Noah Holdings Ltd. will post 0.93 EPS for the current year.

Noah Cuts Dividend

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