Noah (NYSE:NOAH) Issues Quarterly Earnings Results

Noah (NYSE:NOAH) announced its earnings results on Wednesday. The asset manager reported $0.51 earnings per share (EPS) for the quarter, FiscalAI reports. Noah had a return on equity of 6.35% and a net margin of 22.57%.The company had revenue of $91.24 million for the quarter.

Noah Trading Down 0.7%

Shares of NOAH stock opened at $8.71 on Thursday. Noah has a twelve month low of $8.14 and a twelve month high of $12.84. The stock has a market cap of $587.49 million, a P/E ratio of 7.08 and a beta of 0.81. The stock has a 50 day moving average of $9.13 and a 200 day moving average of $10.23.

Noah Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Thursday, August 6th. Stockholders of record on Thursday, July 9th were issued a $1.3806 dividend. This is a boost from Noah’s previous annual dividend of $1.16. The ex-dividend date of this dividend was Thursday, July 9th. This represents a dividend yield of 778.0%. Noah’s payout ratio is presently 58.33%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NOAH. Weiss Ratings lowered 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 target on shares of Noah from $12.00 to $11.50 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. Wall Street Zen cut shares of Noah from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Zacks Research raised shares of Noah from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $10.75.

Hedge Funds Weigh In On Noah

A number of hedge funds have recently bought and sold shares of NOAH. Federation des caisses Desjardins du Quebec acquired a new stake in shares of Noah in the fourth quarter valued at about $41,000. Quadrant Capital Group LLC acquired a new position in shares of Noah during the 3rd quarter worth about $85,000. IMC Chicago LLC acquired a new position in shares of Noah during the 1st quarter worth about $100,000. Kestra Private Wealth Services LLC purchased a new position in Noah in the 1st quarter valued at about $103,000. Finally, Ramsey Quantitative Systems purchased a new position in Noah in the 2nd quarter valued at about $105,000. Hedge funds and other institutional investors own 42.67% of the company’s stock.

About Noah

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.