Noah (NYSE:NOAH) Shares Cross Above 200 Day Moving Average - Here's Why

Noah Holdings Ltd. (NYSE:NOAH - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.66 and traded as high as $12.48. Noah shares last traded at $12.42, with a volume of 58,185 shares trading hands.

Analyst Ratings Changes

NOAH has been the subject of a number of research reports. JPMorgan Chase & Co. raised shares of Noah from a "neutral" rating to an "overweight" rating and set a $11.50 target price for the company in a research report on Wednesday, April 9th. UBS Group reissued a "neutral" rating and set a $11.50 target price on shares of Noah in a research report on Friday, March 28th.

Noah Trading Down 0.3%

The company's fifty day moving average is $11.50 and its 200 day moving average is $10.66. The company has a market capitalization of $821.38 million, a P/E ratio of 12.80 and a beta of 0.88.

Noah (NYSE:NOAH - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The asset manager reported $0.33 EPS for the quarter. The company had revenue of $84.69 million during the quarter. Noah had a net margin of 19.22% and a return on equity of 5.62%. Equities research analysts predict that Noah Holdings Ltd. will post 0.93 EPS for the current year.

Noah Cuts Dividend

The company also recently announced an annual dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be paid a $1.1572 dividend. This represents a yield of 8.3%. The ex-dividend date of this dividend is Thursday, July 3rd. Noah's dividend payout ratio is presently 117.53%.

Institutional Trading of Noah

Institutional investors and hedge funds have recently bought and sold shares of the company. Signaturefd LLC raised its position in shares of Noah by 124.7% during the 2nd quarter. Signaturefd LLC now owns 5,778 shares of the asset manager's stock valued at $69,000 after buying an additional 3,207 shares in the last quarter. Ballentine Partners LLC raised its position in shares of Noah by 20.5% during the 2nd quarter. Ballentine Partners LLC now owns 26,824 shares of the asset manager's stock valued at $320,000 after buying an additional 4,563 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Noah by 61.9% during the 1st quarter. Acadian Asset Management LLC now owns 696,967 shares of the asset manager's stock valued at $6,563,000 after buying an additional 266,602 shares in the last quarter. First Beijing Investment Ltd raised its position in shares of Noah by 19.5% during the 1st quarter. First Beijing Investment Ltd now owns 163,443 shares of the asset manager's stock valued at $1,545,000 after buying an additional 26,710 shares in the last quarter. Finally, Everstar Asset Management LLC bought a new position in shares of Noah during the 1st quarter valued at $217,000. 42.67% of the stock is currently owned by hedge funds and other institutional investors.

Noah Company Profile

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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