Pinpoint Asset Management Ltd Sells 237,423 Shares of Noah Holdings Ltd. (NYSE:NOAH)

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 holdings in shares of Noah Holdings Ltd. (NYSE:NOAH - Free Report) by 78.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,929 shares of the asset manager's stock after selling 237,423 shares during the period. Pinpoint Asset Management Ltd owned about 0.10% of Noah worth $604,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Tower Research Capital LLC TRC increased its stake in Noah by 1,188.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the asset manager's stock valued at $28,000 after acquiring an additional 2,187 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new position in shares of Noah during the fourth quarter worth $39,000. Cubist Systematic Strategies LLC acquired a new position in shares of Noah during the fourth quarter worth $52,000. BNP Paribas Financial Markets acquired a new position in shares of Noah during the fourth quarter worth $72,000. Finally, Hsbc Holdings PLC acquired a new position in Noah in the fourth quarter valued at $150,000. 42.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Noah Stock Performance

NYSE NOAH traded down $0.37 on Monday, hitting $11.81. The stock had a trading volume of 32,600 shares, compared to its average volume of 123,265. Noah Holdings Ltd. has a 52-week low of $7.33 and a 52-week high of $14.90. The company has a market capitalization of $781.35 million, a price-to-earnings ratio of 12.18 and a beta of 0.84. The firm has a 50-day moving average of $11.97 and a 200-day moving average of $10.77.

Noah (NYSE:NOAH - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The asset manager reported $0.33 earnings per share for the quarter. The firm had revenue of $84.69 million for the quarter. Noah had a net margin of 19.22% and a return on equity of 5.62%. As a group, research analysts anticipate that Noah Holdings Ltd. will post 0.93 earnings per share for the current fiscal year.

Noah Cuts Dividend

The company also recently declared an annual dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were issued a $1.1572 dividend. This represents a yield of 830.0%. The ex-dividend date of this dividend was Thursday, July 3rd. Noah's dividend payout ratio (DPR) is 57.73%.

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.