Noah (NYSE:NOAH) Hits New 12-Month Low - What's Next?

Key Points

• Noah Holdings (NYSE:NOAH) hit a new 52-week low, falling to as low as $8.61 as investors traded the stock lower on Thursday.
• Analyst sentiment remains cautious overall: the stock has an average Hold rating, with JPMorgan cutting its price target to $11.50 and the consensus target sitting at $10.75.
• The company recently raised its annual dividend to $1.3806 per share from $1.16, while hedge funds have been active buyers and now own about 42.67% of the stock.

Noah Holdings Ltd. (NYSE:NOAH - Get Free Report)'s share price hit a new 52-week low on Thursday . The stock traded as low as $8.61 and last traded at $8.6350, with a volume of 47375 shares trading hands. The stock had previously closed at $8.84.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. lowered their price target on Noah from $12.00 to $11.50 and set a "neutral" rating on the stock in a research report on Tuesday, June 2nd. Wall Street Zen upgraded Noah from a "hold" rating to a "buy" rating in a research report on Saturday, July 18th. Weiss Ratings downgraded Noah from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, July 10th. Finally, Zacks Research upgraded Noah from a "strong sell" rating to a "hold" rating in a research report on Monday, May 25th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $10.75.

Noah Stock Down 2.3%

The firm has a market cap of $582.36 million, a price-to-earnings ratio of 7.98 and a beta of 0.80. The company's 50-day moving average price is $9.97 and its 200-day moving average price is $10.70.

Noah Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Thursday, August 6th. Shareholders of record on Thursday, July 9th will be paid a dividend of $1.3806 per share. This is an increase from Noah's previous annual dividend of $1.16. The ex-dividend date is Thursday, July 9th. This represents a yield of 778.0%. Noah's dividend payout ratio (DPR) is presently 62.04%.

Hedge Funds Weigh In On Noah

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its holdings in shares of Noah by 132.4% during the first quarter. Renaissance Technologies LLC now owns 95,500 shares of the asset manager's stock worth $945,000 after buying an additional 54,400 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Noah by 9.4% in the first quarter. Dimensional Fund Advisors LP now owns 468,510 shares of the asset manager's stock valued at $4,641,000 after buying an additional 40,332 shares during the last quarter. IMC Chicago LLC purchased a new position in shares of Noah in the first quarter worth about $100,000. Hsbc Holdings PLC lifted its stake in shares of Noah by 47.7% in the fourth quarter. Hsbc Holdings PLC now owns 71,912 shares of the asset manager's stock worth $725,000 after buying an additional 23,217 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Noah during the fourth quarter worth about $115,000. Hedge funds and other institutional investors own 42.67% of the company's stock.

Noah Company Profile

Noah Holdings Limited is a China-based wealth management and asset management firm specializing in tailored advisory services for high-net-worth individuals, family offices and select institutional clients. The company offers a broad range of investment solutions that draw on its deep market research and partner network to provide access to both onshore and offshore products. Noah's business model centers on delivering structured investment products, portfolio management services and family wealth planning solutions designed to meet the evolving needs of affluent clients in China and beyond.

Noah's main service lines include discretionary portfolio management, fund distribution, private equity and venture capital fund platforms, and alternative investment strategies such as real estate and insurance-linked products.

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