First Beijing Investment Ltd Has $1.55 Million Position in Noah Holdings Ltd. $NOAH

Key Points

• First Beijing Investment Ltd increased its position in Noah Holdings Ltd by 19.5%, now holding 163,443 shares, which represents an investment worth approximately $1.5 million.
• Wall Street analysts upgraded Noah's stock rating from “hold” to “buy”, with a consensus target price set at $12.00.
• Noah recently reported $0.37 earnings per share for the last quarter, exceeding analysts' expectations of $0.36, while also declaring an annual dividend yield of 830.0%.

First Beijing Investment Ltd boosted its holdings in shares of Noah Holdings Ltd. (NYSE:NOAH - Free Report) by 19.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 163,443 shares of the asset manager's stock after acquiring an additional 26,710 shares during the quarter. Noah accounts for about 0.1% of First Beijing Investment Ltd's investment portfolio, making the stock its 8th largest holding. First Beijing Investment Ltd owned 0.24% of Noah worth $1,545,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Invesco Ltd. lifted its holdings in shares of Noah by 7.1% during the 1st quarter. Invesco Ltd. now owns 30,880 shares of the asset manager's stock valued at $292,000 after buying an additional 2,047 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Noah by 1,188.6% during 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 last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Noah by 18.1% during 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 last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Noah during the 4th quarter valued at about $52,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Noah during the 4th quarter valued at about $72,000. 42.67% of the stock is currently owned by institutional investors and hedge funds.

Noah Stock Down 1.6%

NYSE NOAH traded down $0.19 during trading on Friday, hitting $11.80. The company's stock had a trading volume of 171,889 shares, compared to its average volume of 343,183. The firm has a 50 day moving average price of $12.07 and a 200 day moving average price of $10.93. The firm has a market cap of $780.56 million, a P/E ratio of 10.53 and a beta of 0.90. Noah Holdings Ltd. has a 52 week low of $7.67 and a 52 week high of $14.90.

Noah (NYSE:NOAH - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $86.31 million. Noah had a return on equity of 6.44% and a net margin of 22.17%. On average, equities analysts expect that Noah Holdings Ltd. will post 0.93 earnings per share for the current year.

Noah Cuts Dividend

The firm also recently disclosed 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 of this dividend was Thursday, July 3rd. This represents a yield of 830.0%. Noah's payout ratio 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 report on Saturday, August 30th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $12.00.

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.