Noah Holdings Ltd. $NOAH Shares Sold by Trexquant Investment LP

Key Points

• Trexquant Investment LP has reduced its holdings in Noah Holdings Ltd. by 24.6%, now owning 68,667 shares valued at approximately $649,000.
• Noah Holdings has recently declared an annual dividend of $1.1572 per share, with a payout ratio of 50.00% and a yield of 830.0%.
• Analysts have upgraded Noah Holdings from a "hold" to a "buy" rating, with a consensus price target set at $12.00.

Trexquant Investment LP cut its position in shares of Noah Holdings Ltd. (NYSE:NOAH - Free Report) by 24.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 68,667 shares of the asset manager's stock after selling 22,404 shares during the period. Trexquant Investment LP owned approximately 0.10% of Noah worth $649,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Hsbc Holdings PLC lifted its holdings in Noah by 198.3% during the 1st quarter. Hsbc Holdings PLC now owns 38,002 shares of the asset manager's stock valued at $362,000 after buying an additional 25,263 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Noah by 1,440.2% during the 1st quarter. Russell Investments Group Ltd. now owns 32,376 shares of the asset manager's stock valued at $328,000 after buying an additional 30,274 shares in the last quarter. Nuveen LLC bought a new stake in shares of Noah in the 1st quarter valued at about $350,000. Invesco Ltd. raised its holdings in shares of Noah by 7.1% in the 1st quarter. Invesco Ltd. now owns 30,880 shares of the asset manager's stock valued at $292,000 after purchasing an additional 2,047 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Noah by 39.0% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,022 shares of the asset manager's stock valued at $633,000 after purchasing an additional 18,806 shares in the last quarter. 42.67% of the stock is owned by hedge funds and other institutional investors.

Noah Trading Down 1.6%

Shares of NOAH stock traded down $0.19 during trading hours 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 company has a 50 day moving average of $12.07 and a 200 day moving average of $10.94. The stock has a market cap of $780.56 million, a PE ratio of 10.53 and a beta of 0.90. Noah Holdings Ltd. has a 12-month low of $7.67 and a 12-month high of $14.90.

Noah (NYSE:NOAH - Get Free Report) last announced its quarterly earnings results on Wednesday, August 27th. The asset manager reported $0.37 earnings per share (EPS) for the quarter. Noah had a net margin of 22.17% and a return on equity of 6.44%. The firm had revenue of $87.87 million for the quarter, compared to the consensus estimate of $86.31 million. As a group, analysts anticipate that Noah Holdings Ltd. will post 0.93 earnings per share for the current fiscal year.

Noah Cuts Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were given a dividend of $1.1572 per share. The ex-dividend date was Thursday, July 3rd. This represents a yield of 830.0%. Noah's dividend payout ratio is currently 50.00%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of 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's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $12.00.

About Noah

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.