Noah Holdings Ltd. $NOAH Position Increased by First Beijing Investment Ltd

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 position in shares of Noah Holdings Ltd. (NYSE:NOAH - Free Report) by 19.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 163,443 shares of the asset manager's stock after purchasing an additional 26,710 shares during the quarter. Noah makes up 0.1% of First Beijing Investment Ltd's portfolio, making the stock its 8th biggest holding. First Beijing Investment Ltd owned 0.24% of Noah worth $1,545,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NOAH. Tower Research Capital LLC TRC boosted its position in 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 in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Noah during the fourth quarter worth $52,000. BNP Paribas Financial Markets purchased a new stake in Noah during the fourth quarter worth $72,000. Hsbc Holdings PLC purchased a new stake in Noah during the fourth quarter worth $150,000. Finally, Everstar Asset Management LLC purchased a new stake in Noah during the first quarter worth $217,000. 42.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Noah Stock Down 1.1%

NYSE NOAH opened at $11.91 on Tuesday. Noah Holdings Ltd. has a fifty-two week low of $7.67 and a fifty-two week high of $14.90. The stock has a market cap of $787.97 million, a price-to-earnings ratio of 10.63 and a beta of 0.90. The business has a fifty day moving average of $12.06 and a 200-day 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 for the quarter. The company had revenue of $87.87 million during 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%. As a group, analysts anticipate that Noah Holdings Ltd. will post 0.93 EPS for the current year.

Noah Cuts Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.