Noah (NYSE:NOAH) Sets New 1-Year Low – What’s Next?

Noah Holdings Ltd. (NYSE:NOAH)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $8.26 and last traded at $8.27, with a volume of 17580 shares. The stock had previously closed at $8.40.

Analyst Ratings Changes

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

Noah Stock Down 2.7%

The stock has a market capitalization of $551.04 million, a PE ratio of 7.58 and a beta of 0.81. The business’s 50-day moving average is $9.66 and its two-hundred day moving average is $10.54.

Noah Increases Dividend

The company also recently declared an annual dividend, which will be paid on Thursday, August 6th. Shareholders of record on Thursday, July 9th will be given a dividend of $1.3806 per share. This represents a yield of 778.0%. This is a positive change from Noah’s previous annual dividend of $1.16. The ex-dividend date of this dividend is Thursday, July 9th. Noah’s dividend payout ratio is presently 58.33%.

Hedge Funds Weigh In On Noah

A number of institutional investors have recently modified their holdings of NOAH. Ramsey Quantitative Systems acquired a new stake in Noah during the 2nd quarter worth $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 raised its holdings in shares of Noah by 9.4% in the first quarter. Dimensional Fund Advisors LP now owns 468,510 shares of the asset manager’s stock valued at $4,641,000 after buying an additional 40,332 shares during the last quarter. IMC Chicago LLC acquired a new stake in shares of Noah during the first quarter worth about $100,000. Finally, Kestra Private Wealth Services LLC purchased a new position in shares of Noah during the first quarter worth about $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.