Noah (NYSE:NOAH) Lowered to Hold Rating by 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 research analysts have also recently commented on NOAH. Zacks Research raised shares of Noah from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. JPMorgan Chase & Co. dropped their price target on shares of Noah from $12.00 to $11.50 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. Finally, Weiss Ratings lowered shares of Noah from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, July 10th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.75.

Noah Stock Performance

Shares of NYSE:NOAH opened at $8.76 on Friday. The company has a market cap of $590.86 million, a P/E ratio of 8.11 and a beta of 0.81. Noah has a one year low of $8.14 and a one year high of $12.84. The business’s 50-day simple moving average is $9.55 and its 200 day simple moving average is $10.49.

Noah Increases Dividend

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

Institutional Investors Weigh In On Noah

Hedge funds and other institutional investors have recently modified their holdings of the stock. FIL Ltd lifted its position in shares of Noah by 7.1% during the fourth quarter. FIL Ltd now owns 6,377,766 shares of the asset manager’s stock worth $64,033,000 after purchasing an additional 424,717 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Noah in the second quarter valued at about $14,128,000. Dimensional Fund Advisors LP increased its holdings in 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. Nuveen LLC raised its stake in Noah by 35.0% during the fourth quarter. Nuveen LLC now owns 454,675 shares of the asset manager’s stock valued at $4,565,000 after buying an additional 117,971 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. raised its stake in Noah by 7.4% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 444,967 shares of the asset manager’s stock valued at $4,467,000 after buying an additional 30,691 shares in the last quarter. Institutional investors 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.