Nuveen LLC purchased a new position in shares of Noah Holdings Ltd. (NYSE:NOAH - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 37,000 shares of the asset manager's stock, valued at approximately $350,000. Nuveen LLC owned 0.06% of Noah as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Invesco Ltd. boosted its position in shares of Noah by 7.1% during the first quarter. Invesco Ltd. now owns 30,880 shares of the asset manager's stock worth $292,000 after buying an additional 2,047 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of 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 buying an additional 2,187 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Noah by 18.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 19,085 shares of the asset manager's stock worth $223,000 after buying an additional 2,930 shares during the period. Barclays PLC boosted its holdings in Noah by 14.0% in the fourth quarter. Barclays PLC now owns 28,660 shares of the asset manager's stock valued at $335,000 after purchasing an additional 3,524 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in Noah in the fourth quarter valued at $52,000. 42.67% of the stock is currently owned by hedge funds and other institutional investors.
Noah Stock Up 0.7%
Noah stock traded up $0.08 during midday trading on Thursday, reaching $11.98. The company's stock had a trading volume of 183,810 shares, compared to its average volume of 339,680. Noah Holdings Ltd. has a fifty-two week low of $7.67 and a fifty-two week high of $14.90. The company has a market cap of $792.60 million, a P/E ratio of 10.70 and a beta of 0.90. The business has a 50-day simple moving average of $12.06 and a 200-day simple moving average of $10.93.
Noah (NYSE:NOAH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 27th. The asset manager reported $0.37 earnings per share for the quarter. Noah had a return on equity of 6.44% and a net margin of 22.17%.The company had revenue of $87.87 million for the quarter, compared to analysts' expectations of $86.31 million. As a group, equities analysts forecast that Noah Holdings Ltd. will post 0.93 earnings per share for the current year.
Noah Cuts Dividend
The firm also recently declared 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%.
Wall Street Analyst Weigh In
Separately, Wall Street Zen upgraded Noah from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $12.00.
Read Our Latest Research Report on Noah
About Noah
(
Free Report)
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.
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