Noah (NYSE:NOAH) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Noah (NYSE:NOAH) from a buy rating to a hold rating in a research report report published on Saturday morning.

A number of other equities analysts have also issued reports on the stock. Weiss Ratings lowered shares of Noah from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. decreased their price target on shares of Noah from $12.00 to $11.50 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd. Finally, Zacks Research upgraded shares of Noah from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Noah currently has an average rating of “Hold” and a consensus target price of $10.75.

Noah Stock Up 0.3%

NOAH opened at $8.81 on Friday. The firm has a market cap of $594.23 million, a price-to-earnings ratio of 8.16 and a beta of 0.81. Noah has a 52 week low of $8.14 and a 52 week high of $12.84. The business’s 50 day moving average is $9.52 and its two-hundred day moving average is $10.47.

Noah Increases Dividend

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

Institutional Trading of Noah

Hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Noah during the second quarter worth about $14,128,000. FIL Ltd lifted its position in Noah by 7.1% in the fourth quarter. FIL Ltd now owns 6,377,766 shares of the asset manager’s stock valued at $64,033,000 after purchasing an additional 424,717 shares during the period. Nuveen LLC boosted its holdings in Noah by 35.0% in the 4th quarter. Nuveen LLC now owns 454,675 shares of the asset manager’s stock valued at $4,565,000 after purchasing an additional 117,971 shares in the last quarter. Sei Investments Co. boosted its holdings in Noah by 549.8% in 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 in the last quarter. Finally, Renaissance Technologies LLC increased its position 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 period. Institutional investors and hedge funds own 42.67% of the company’s stock.

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.