Noah (NYSE:NOAH) Reaches New 12-Month Low - Time to Sell?

Key Points

• Noah shares hit a new 52-week low, falling to $8.46 before last trading at $8.48, below both the 50-day moving average of $9.80 and 200-day moving average of $10.62.
• Analyst sentiment remains cautious: four analysts rate the stock “Hold,” with a consensus price target of $10.75. JPMorgan recently lowered its target from $12.00 to $11.50, while other firms made mixed rating changes.
• Noah announced an increased annual dividend of $1.3806 per share, up from $1.16, with a payout ratio of 62.04%. Institutional investors own approximately 42.67% of the company.

Noah Holdings Ltd. (NYSE:NOAH - Get Free Report) hit a new 52-week low on Thursday . The stock traded as low as $8.46 and last traded at $8.48, with a volume of 4675 shares traded. The stock had previously closed at $8.60.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NOAH shares. Wall Street Zen upgraded Noah from a "hold" rating to a "buy" rating in a report on Saturday, July 18th. JPMorgan Chase & Co. dropped their price target on shares of Noah from $12.00 to $11.50 and set a "neutral" rating for the company in a research note on Tuesday, June 2nd. Zacks Research raised shares of Noah from a "strong sell" rating to a "hold" rating in a research report on Monday, May 25th. Finally, Weiss Ratings cut shares of Noah from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, July 10th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Noah currently has a consensus rating of "Hold" and a consensus target price of $10.75.

Noah Stock Performance

The stock has a market capitalization of $572.96 million, a price-to-earnings ratio of 7.87 and a beta of 0.80. The firm's 50 day moving average is $9.80 and its 200-day moving average is $10.62.

Noah Increases Dividend

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

Hedge Funds Weigh In On Noah

A number of institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC increased its stake in shares of Noah by 307.2% in the 1st quarter. Cubist Systematic Strategies LLC now owns 17,980 shares of the asset manager's stock worth $170,000 after acquiring an additional 13,564 shares during the last quarter. Geode Capital Management LLC raised its stake in Noah by 17.9% during the second quarter. Geode Capital Management LLC now owns 26,896 shares of the asset manager's stock worth $321,000 after purchasing an additional 4,080 shares during the period. American Century Companies Inc. raised its stake in Noah by 1.5% during the second quarter. American Century Companies Inc. now owns 139,499 shares of the asset manager's stock worth $1,666,000 after purchasing an additional 2,084 shares during the period. Russell Investments Group Ltd. boosted its holdings in Noah by 10.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 35,627 shares of the asset manager's stock valued at $429,000 after purchasing an additional 3,251 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Noah in the 2nd quarter valued at approximately $306,000. Hedge funds and other institutional investors own 42.67% of the company's stock.

About Noah

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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