Noah Holdings Ltd. (NYSE:NOAH - Get Free Report) declared an annual dividend on Monday, June 16th, Wall Street Journal reports. Shareholders of record on Thursday, July 3rd will be given a dividend of 1.1572 per share by the asset manager on Friday, August 1st. This represents a yield of 8.3%. The ex-dividend date of this dividend is Thursday, July 3rd.
Noah has a payout ratio of 159.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Noah to earn $1.52 per share next year, which means the company may not be able to cover its $2.12 annual dividend with an expected future payout ratio of 139.5%.
Noah Stock Down 1.1%
Shares of NYSE NOAH traded down $0.14 during trading on Thursday, hitting $12.24. 151,807 shares of the company traded hands, compared to its average volume of 175,336. The firm has a market capitalization of $809.85 million, a P/E ratio of 12.62 and a beta of 0.84. The company has a 50-day moving average price of $10.03 and a 200-day moving average price of $10.62. Noah has a 1 year low of $7.14 and a 1 year high of $14.90.
Noah (NYSE:NOAH - Get Free Report) last issued 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 firm had revenue of $84.69 million for the quarter. Research analysts predict that Noah will post 0.93 EPS for the current fiscal year.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Noah stock. Cubist Systematic Strategies LLC lifted its stake in Noah Holdings Ltd. (NYSE:NOAH - Free Report) by 307.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,980 shares of the asset manager's stock after buying an additional 13,564 shares during the period. Cubist Systematic Strategies LLC's holdings in Noah were worth $170,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 42.67% of the company's stock.
Analyst Upgrades and Downgrades
NOAH has been the topic of several research analyst reports. UBS Group reaffirmed a "neutral" rating and issued a $11.50 price objective on shares of Noah in a research note on Friday, March 28th. JPMorgan Chase & Co. upgraded shares of Noah from a "neutral" rating to an "overweight" rating and set a $11.50 price target on the stock in a report on Wednesday, April 9th. Finally, Wall Street Zen cut shares of Noah from a "buy" rating to a "hold" rating in a research report on Thursday, March 20th.
Read Our Latest Analysis on Noah
Noah Company Profile
(
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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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