Noah (NYSE:NOAH) Sets New 1-Year Low - Here's Why

Key Points

• Noah shares fell to a new 52-week low of $8.02, below the stock’s 50-day and 200-day moving averages, with the company valued at approximately $560 million.
• 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.
• Noah reported quarterly EPS of $0.51 on $91.24 million in revenue and increased its annual dividend to $1.3806 per share, while institutional investors own 42.67% of the stock.

Noah Holdings Ltd. (NYSE:NOAH - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $8.02 and last traded at $8.1540, with a volume of 13134 shares changing hands. The stock had previously closed at $8.23.

Analysts Set New Price Targets

Several brokerages recently commented on NOAH. Zacks Research raised Noah from a "strong sell" rating to a "hold" rating in a research report on Monday, May 25th. Weiss Ratings cut Noah from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, July 10th. JPMorgan Chase & Co. cut their price objective on Noah from $12.00 to $11.50 and set a "neutral" rating for the company in a report on Tuesday, June 2nd. Finally, Wall Street Zen cut shares of Noah from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Noah has a consensus rating of "Hold" and an average target price of $10.75.

Noah Stock Down 0.4%

The stock has a fifty day moving average price of $8.78 and a two-hundred day moving average price of $9.97. The company has a market cap of $560.31 million, a price-to-earnings ratio of 6.67 and a beta of 0.82.

Noah (NYSE:NOAH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 26th. The asset manager reported $0.51 earnings per share (EPS) for the quarter. The firm had revenue of $91.24 million during the quarter. Noah had a net margin of 22.57% and a return on equity of 6.37%. Analysts predict that Noah Holdings Ltd. will post 1.31 earnings per share for the current fiscal year.

Noah Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Thursday, August 6th. Investors of record on Thursday, July 9th were given a dividend of $1.3806 per share. This is a positive change from Noah's previous annual dividend of $1.16. This represents a yield of 778.0%. The ex-dividend date of this dividend was Thursday, July 9th. Noah's dividend payout ratio (DPR) is currently 51.22%.

Institutional Investors Weigh In On Noah

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Noah in the 2nd quarter valued at approximately $14,128,000. FIL Ltd lifted its holdings in Noah by 7.1% during the 4th quarter. FIL Ltd now owns 6,377,766 shares of the asset manager's stock worth $64,033,000 after buying an additional 424,717 shares during the period. Nuveen LLC lifted its stake in shares of Noah by 35.0% in the fourth quarter. Nuveen LLC now owns 454,675 shares of the asset manager's stock worth $4,565,000 after acquiring an additional 117,971 shares during the period. Sei Investments Co. increased its position in Noah by 549.8% during the 3rd quarter. Sei Investments Co. now owns 78,178 shares of the asset manager's stock valued at $906,000 after purchasing an additional 66,146 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Noah by 132.4% during the 1st quarter. Renaissance Technologies LLC now owns 95,500 shares of the asset manager's stock worth $945,000 after purchasing an additional 54,400 shares during the last quarter. 42.67% of the stock is currently owned by institutional investors.

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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