Noah (NYSE:NOAH) Reaches New 52-Week Low – Here’s Why

Noah Holdings Ltd. (NYSE:NOAH) hit a new 52-week low during trading on Thursday . The company traded as low as $8.90 and last traded at $8.9150, with a volume of 1037 shares changing hands. The stock had previously closed at $10.25.

Analyst Ratings Changes

NOAH has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Noah from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. Weiss Ratings upgraded shares of Noah from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 29th. Zacks Research raised shares of Noah from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Finally, JPMorgan Chase & Co. lowered their target price on Noah from $12.00 to $11.50 and set a “neutral” rating on the stock in a report on Tuesday, June 2nd. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.75.

Noah Trading Down 13.2%

The stock’s fifty day moving average price is $10.33 and its 200-day moving average price is $10.78. The firm has a market cap of $600.30 million, a price-to-earnings ratio of 8.20 and a beta of 0.80.

Noah Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Thursday, August 6th. Investors of record on Thursday, July 9th will be paid a dividend of $1.3806 per share. This represents a yield of 765.0%. The ex-dividend date of this dividend is Thursday, July 9th. This is an increase from Noah’s previous annual dividend of $1.16. Noah’s payout ratio is currently 51.85%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC raised its position in shares of Noah by 31.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 40,769 shares of the asset manager’s stock worth $409,000 after acquiring an additional 9,678 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Noah by 85.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 40,682 shares of the asset manager’s stock valued at $408,000 after acquiring an additional 18,732 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Noah by 17.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 16,070 shares of the asset manager’s stock valued at $186,000 after purchasing an additional 2,412 shares in the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of Noah during the third quarter valued at about $151,000. Finally, Centiva Capital LP purchased a new stake in Noah during the 3rd quarter worth approximately $118,000. Institutional investors and hedge funds own 42.67% of the company’s stock.

About Noah

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.