Noah Holdings Ltd. (NYSE:NOAH) Shares Sold by Pinpoint Asset Management Ltd

Key Points

• Pinpoint Asset Management Ltd significantly reduced its stake in Noah Holdings Ltd by 78.8%, selling 237,423 shares and retaining only 63,929 shares worth $604,000.
• Other institutional investors are actively adjusting their positions, with American Century Companies Inc. increasing its stake by 51.8% during the fourth quarter.
• Noah Holdings recently posted earnings of $0.33 per share and an annual dividend that yielded 830.0%, although analysts expect earnings to grow to $0.93 per share for the fiscal year.

Pinpoint Asset Management Ltd trimmed its stake in Noah Holdings Ltd. (NYSE:NOAH - Free Report) by 78.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 63,929 shares of the asset manager's stock after selling 237,423 shares during the quarter. Pinpoint Asset Management Ltd owned approximately 0.10% of Noah worth $604,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. FIL Ltd boosted its position in Noah by 11.3% during the 4th quarter. FIL Ltd now owns 4,260,790 shares of the asset manager's stock worth $49,894,000 after acquiring an additional 432,599 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Noah by 9.6% during the fourth 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 in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Noah by 12.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 185,996 shares of the asset manager's stock worth $2,178,000 after purchasing an additional 21,178 shares during the period. American Century Companies Inc. grew its position in 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 buying an additional 47,761 shares in the last quarter. Finally, Trexquant Investment LP increased its stake in Noah by 170.7% during the 4th quarter. Trexquant Investment LP now owns 91,071 shares of the asset manager's stock valued at $1,066,000 after buying an additional 57,425 shares during the period. Institutional investors and hedge funds own 42.67% of the company's stock.

Noah Stock Performance

Shares of NOAH stock traded down $0.05 during mid-day trading on Friday, hitting $12.15. 49,715 shares of the stock traded hands, compared to its average volume of 75,614. Noah Holdings Ltd. has a twelve month low of $7.33 and a twelve month high of $14.90. The company's 50-day simple moving average is $11.97 and its 200-day simple moving average is $10.77. The firm has a market cap of $803.84 million, a price-to-earnings ratio of 12.53 and a beta of 0.84.

Noah (NYSE:NOAH - Get Free Report) last announced its earnings results on Wednesday, May 28th. The asset manager reported $0.33 earnings per share for the quarter. Noah had a return on equity of 5.62% and a net margin of 19.22%. The business had revenue of $84.69 million during the quarter. Analysts forecast that Noah Holdings Ltd. will post 0.93 earnings per share 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 issued a $1.1572 dividend. This represents a dividend yield of 830.0%. The ex-dividend date was Thursday, July 3rd. Noah's payout ratio is presently 57.73%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Noah from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd.

Noah Company 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.