Noah (NYSE:NOAH) Sees Large Volume Increase

Noah Holdings Limited (NYSE:NOAH) shares saw strong trading volume on Thursday . 53,279 shares were traded during mid-day trading, a decline of 71% from the previous session’s volume of 186,886 shares.The stock last traded at $7.87 and had previously closed at $7.82.

Wall Street Analysts Forecast Growth

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

Noah Trading Up 2.8 %

The company’s 50 day moving average is $8.46 and its 200-day moving average is $10.84. The firm has a market capitalization of $531.74 million, a price-to-earnings ratio of 4.37 and a beta of 0.76.

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

Noah Dividend Announcement

The company also recently declared an annual dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 3rd were given a dividend of $2.1249 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a dividend yield of 10.4%. Noah’s dividend payout ratio is 57.54%.

Institutional Trading of Noah

Several institutional investors and hedge funds have recently modified their holdings of the business. Davis Selected Advisers boosted its holdings in shares of Noah by 121.7% during the 2nd quarter. Davis Selected Advisers now owns 1,681,650 shares of the asset manager’s stock valued at $16,228,000 after acquiring an additional 923,122 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Noah by 50.5% during the second quarter. Dimensional Fund Advisors LP now owns 255,606 shares of the asset manager’s stock valued at $2,472,000 after purchasing an additional 85,771 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Noah by 52.1% during the second quarter. American Century Companies Inc. now owns 89,904 shares of the asset manager’s stock worth $868,000 after purchasing an additional 30,810 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of Noah in the second quarter valued at approximately $615,000. Finally, SG Americas Securities LLC bought a new position in Noah in the 2nd quarter valued at approximately $510,000. 42.67% of the stock is currently owned by institutional investors.

Noah Company Profile

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.