Noah (NYSE:NOAH) Sets New 52-Week Low – Here’s Why

Shares of Noah Holdings Ltd. (NYSE:NOAH) reached a new 52-week low during mid-day trading 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.

Analyst Ratings Changes

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

Noah Stock Down 1.2%

The stock has a market cap of $572.96 million, a price-to-earnings ratio of 7.87 and a beta of 0.80. The business’s fifty day moving average is $9.80 and its two-hundred day moving average is $10.62.

Noah Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Thursday, August 6th. Stockholders of record on Thursday, July 9th will be paid a $1.3806 dividend. This represents a dividend yield of 778.0%. The ex-dividend date is Thursday, July 9th. This is a boost from Noah’s previous annual dividend of $1.16. Noah’s dividend payout ratio (DPR) is 62.04%.

Institutional Trading of Noah

Large investors have recently made changes to their positions in the company. Ramsey Quantitative Systems purchased a new position in Noah during the 2nd quarter worth approximately $105,000. Renaissance Technologies LLC increased its stake in Noah by 132.4% in the first quarter. Renaissance Technologies LLC now owns 95,500 shares of the asset manager’s stock valued at $945,000 after purchasing an additional 54,400 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Noah by 9.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 468,510 shares of the asset manager’s stock valued at $4,641,000 after purchasing an additional 40,332 shares in the last quarter. IMC Chicago LLC acquired a new stake in Noah in the 1st quarter valued at about $100,000. Finally, Kestra Private Wealth Services LLC acquired a new position in Noah in the 1st quarter valued at $103,000. 42.67% of the stock is owned by institutional investors and hedge funds.

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.