Noah (NYSE:NOAH) Reaches New 12-Month Low - Here's What Happened

Key Points

• Noah shares fell to a new 52-week low of $8.26 during Wednesday trading, below the $8.40 previous close. The stock’s 50-day and 200-day moving averages stood at $9.66 and $10.54, respectively.
• Analyst sentiment remains cautious, with a consensus “Hold” rating from four analysts and an average price target of $10.75. JPMorgan also cut its price target from $12.00 to $11.50 while maintaining a neutral rating.
• Noah increased its annual dividend to $1.3806 from $1.16, with a stated payout ratio of 58.33%. Institutional investors own approximately 42.67% of the company, and Renaissance Technologies increased its position by 132.4%.

Noah Holdings Ltd. (NYSE:NOAH - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $8.26 and last traded at $8.27, with a volume of 17580 shares traded. The stock had previously closed at $8.40.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NOAH shares. Wall Street Zen raised shares of Noah from a "hold" rating to a "buy" rating in a research note on Saturday, July 18th. JPMorgan Chase & Co. lowered their price objective on Noah from $12.00 to $11.50 and set a "neutral" rating for the company in a research report on Tuesday, June 2nd. Zacks Research raised Noah from a "strong sell" rating to a "hold" rating in a research note on Monday, May 25th. Finally, Weiss Ratings downgraded Noah from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, July 10th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Noah presently has a consensus rating of "Hold" and an average price target of $10.75.

Noah Price Performance

The business has a 50 day simple moving average of $9.66 and a 200 day simple moving average of $10.54. The company has a market capitalization of $551.04 million, a price-to-earnings ratio of 7.58 and a beta of 0.81.

Noah Increases Dividend

The company also recently announced an annual dividend, which will be paid on Thursday, August 6th. Shareholders of record on Thursday, July 9th will be given a $1.3806 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a yield of 778.0%. This is an increase from Noah's previous annual dividend of $1.16. Noah's dividend payout ratio is presently 58.33%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NOAH. Centiva Capital LP acquired a new stake in Noah during the 3rd quarter worth approximately $118,000. Virtu Financial LLC acquired a new stake in shares of Noah in the fourth quarter valued at $115,000. Quadrant Capital Group LLC purchased a new position in Noah in the third quarter valued at $85,000. Federation des caisses Desjardins du Quebec purchased a new stake in Noah during the 4th quarter worth about $41,000. Finally, Renaissance Technologies LLC raised its position in Noah by 132.4% in the 1st quarter. Renaissance Technologies LLC now owns 95,500 shares of the asset manager's stock valued at $945,000 after purchasing an additional 54,400 shares in the last quarter. 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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