Noah (NYSE:NOAH) Shares Gap Up to $7.22

Shares of Noah Holdings Limited (NYSE:NOAH) gapped up prior to trading on Monday . The stock had previously closed at $7.22, but opened at $7.56. Noah shares last traded at $7.66, with a volume of 124,069 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JPMorgan Chase & Co. lowered shares of Noah from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $18.00 to $13.00 in a research report on Thursday, May 30th. StockNews.com lowered shares of Noah from a “buy” rating to a “hold” rating in a research report on Friday, May 31st.

Noah Stock Performance

The firm has a market cap of $500.02 million, a PE ratio of 4.25 and a beta of 0.76. The stock’s 50 day simple moving average is $10.48 and its 200 day simple moving average is $11.48.

Noah (NYSE:NOAH) last announced its quarterly earnings data on Wednesday, May 29th. The asset manager reported $0.32 earnings per share (EPS) for the quarter. Noah had a net margin of 31.26% and a return on equity of 9.08%. The company had revenue of $89.96 million during the quarter. As a group, analysts anticipate that Noah Holdings Limited will post 1.37 earnings per share for the current year.

Noah Dividend Announcement

The firm also recently declared an annual dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 3rd will be paid a $2.1249 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a dividend yield of 10.4%. Noah’s payout ratio is 58.10%.

Institutional Trading of Noah

Institutional investors have recently made changes to their positions in the stock. Trexquant Investment LP raised its stake in Noah by 68.8% during the 4th quarter. Trexquant Investment LP now owns 28,935 shares of the asset manager’s stock worth $400,000 after acquiring an additional 11,797 shares during the period. Dodge & Cox boosted its stake in Noah by 15.0% during the fourth quarter. Dodge & Cox now owns 26,840 shares of the asset manager’s stock worth $371,000 after buying an additional 3,500 shares during the period. Quadrature Capital Ltd boosted its stake in shares of Noah by 91.1% during the fourth quarter. Quadrature Capital Ltd now owns 19,779 shares of the asset manager’s stock valued at $273,000 after purchasing an additional 9,429 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Noah by 92.2% during the fourth quarter. Quadrant Capital Group LLC now owns 12,756 shares of the asset manager’s stock valued at $176,000 after purchasing an additional 6,120 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Noah during the first quarter valued at $30,000. Hedge funds and other institutional investors own 42.67% of the company’s stock.

About Noah

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.