Noah Holdings Ltd. (NYSE:NOAH - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.78 and traded as high as $12.22. Noah shares last traded at $11.71, with a volume of 64,286 shares trading hands.
Analysts Set New Price Targets
Separately, Wall Street Zen upgraded Noah from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd.
Check Out Our Latest Report on Noah
Noah Stock Performance
The stock has a market cap of $779.32 million, a PE ratio of 12.14 and a beta of 0.84. The stock has a fifty day simple moving average of $12.05 and a two-hundred day simple moving average of $10.80.
Noah (NYSE:NOAH - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The asset manager reported $0.33 earnings per share for the quarter. The firm had revenue of $84.69 million during the quarter. Noah had a return on equity of 5.62% and a net margin of 19.22%. On average, equities analysts predict that Noah Holdings Ltd. will post 0.93 EPS for the current fiscal year.
Noah Cuts Dividend
The business also recently declared an annual dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were issued a $1.1572 dividend. This represents a yield of 830.0%. The ex-dividend date was Thursday, July 3rd. Noah's dividend payout ratio is currently 56.70%.
Hedge Funds Weigh In On Noah
A number of institutional investors have recently made changes to their positions in the business. Bank of America Corp DE raised its position in shares of Noah by 2.2% in the 2nd quarter. Bank of America Corp DE now owns 99,919 shares of the asset manager's stock valued at $1,193,000 after purchasing an additional 2,163 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Noah in the second quarter worth $14,128,000. Marshall Wace LLP bought a new position in Noah during the second quarter valued at about $306,000. Russell Investments Group Ltd. boosted its stake in Noah by 10.0% during the second quarter. Russell Investments Group Ltd. now owns 35,627 shares of the asset manager's stock valued at $429,000 after buying an additional 3,251 shares in the last quarter. Finally, American Century Companies Inc. boosted 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 valued at $1,666,000 after buying an additional 2,084 shares in the last quarter. 42.67% of the stock is owned by institutional investors and hedge funds.
About Noah
(
Get Free Report)
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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