Noah (NYSE:NOAH) Trading Down 5.5% - Should You Sell?

Key Points

• Noah Holdings Ltd. (NYSE:NOAH) stock declined by 5.5%, closing at $11.03 as trading volume fell 9% below its average.
• Analyst ratings for Noah have shifted, with Wall Street Zen downgrading the stock from "buy" to "hold," and it currently carries a consensus rating of "hold" along with an average price target of $12.00.
• Noah recently raised its annual dividend to $1.1572 per share, which represents an extremely high yield of 830.0% and a payout ratio of 50.00%.

Noah Holdings Ltd. (NYSE:NOAH - Get Free Report) shares traded down 5.5% on Monday . The stock traded as low as $11.02 and last traded at $11.03. 137,968 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 151,129 shares. The stock had previously closed at $11.67.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Noah from a "buy" rating to a "hold" rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $12.00.

Noah Stock Up 0.9%

The firm has a market capitalization of $742.54 million, a price-to-earnings ratio of 10.03 and a beta of 0.90. The stock's 50-day moving average price is $12.04 and its 200 day moving average price is $10.94.

Noah (NYSE:NOAH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The asset manager reported $0.37 EPS for the quarter. Noah had a net margin of 22.17% and a return on equity of 6.44%. The business had revenue of $87.87 million during the quarter, compared to analyst estimates of $86.31 million. On average, sell-side analysts anticipate that Noah Holdings Ltd. will post 0.93 earnings per share for the current year.

Noah Cuts Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were paid a $1.1572 dividend. This represents a yield of 830.0%. The ex-dividend date of this dividend was Thursday, July 3rd. Noah's dividend payout ratio is presently 50.00%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NOAH. Invesco Ltd. grew its position in Noah by 7.1% in the first quarter. Invesco Ltd. now owns 30,880 shares of the asset manager's stock valued at $292,000 after acquiring an additional 2,047 shares in the last quarter. American Century Companies Inc. grew its holdings 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 acquiring an additional 2,084 shares during the period. Bank of America Corp DE increased its stake in Noah by 2.2% in the 2nd quarter. Bank of America Corp DE now owns 99,919 shares of the asset manager's stock worth $1,193,000 after purchasing an additional 2,163 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Noah by 18.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 19,085 shares of the asset manager's stock valued at $223,000 after acquiring an additional 2,930 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings 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 during the last quarter. Hedge funds and other institutional investors own 42.67% of the company's stock.

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.