Noah Holdings Limited (NYSE:NOAH) to Issue Annual Dividend of $1.16

Noah Holdings Limited (NYSE:NOAH) announced an annual dividend on Monday, June 16th, Wall Street Journal reports. Stockholders of record on Thursday, July 3rd will be given a dividend of 1.1572 per share by the asset manager on Friday, August 1st. This represents a dividend yield of 8.3%. The ex-dividend date of this dividend is Thursday, July 3rd.

Noah has a payout ratio of 159.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Noah to earn $1.52 per share next year, which means the company may not be able to cover its $2.12 annual dividend with an expected future payout ratio of 139.5%.

Noah Price Performance

NOAH stock traded up $0.33 during trading on Monday, hitting $12.45. The stock had a trading volume of 187,640 shares, compared to its average volume of 123,213. Noah has a twelve month low of $7.14 and a twelve month high of $14.90. The stock has a market capitalization of $823.86 million, a P/E ratio of 10.64 and a beta of 0.84. The company’s 50-day moving average price is $9.70 and its two-hundred day moving average price is $10.60.

Noah (NYSE:NOAH) last posted its quarterly earnings results on Wednesday, May 28th. The asset manager reported $0.33 EPS for the quarter. Noah had a return on equity of 6.43% and a net margin of 23.53%. The firm had revenue of $84.69 million during the quarter. As a group, sell-side analysts expect that Noah will post 0.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Noah

A hedge fund recently raised its stake in Noah stock. Cubist Systematic Strategies LLC grew its stake in shares of Noah Holdings Limited (NYSE:NOAH) by 307.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,980 shares of the asset manager’s stock after purchasing an additional 13,564 shares during the period. Cubist Systematic Strategies LLC’s holdings in Noah were worth $170,000 at the end of the most recent reporting period. Institutional investors own 42.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on NOAH. Wall Street Zen downgraded Noah from a “buy” rating to a “hold” rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. upgraded shares of Noah from a “neutral” rating to an “overweight” rating and set a $11.50 price objective on the stock in a report on Wednesday, April 9th. Finally, UBS Group reaffirmed a “neutral” rating and set a $11.50 target price on shares of Noah in a research note on Friday, March 28th.

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.