Noah (NYSE:NOAH) Shares Gap Down – Here’s Why

Noah Holdings Ltd. (NYSE:NOAH) gapped down before the market opened on Wednesday . The stock had previously closed at $8.57, but opened at $8.27. Noah shares last traded at $8.3460, with a volume of 1,523 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NOAH. Wall Street Zen lowered Noah from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings lowered Noah from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. Zacks Research upgraded Noah from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Noah from $12.00 to $11.50 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, Noah currently has an average rating of “Hold” and an average price target of $10.75.

Noah Price Performance

The stock’s fifty day simple moving average is $8.98 and its 200-day simple moving average is $10.13. The stock has a market cap of $565.91 million, a P/E ratio of 6.82 and a beta of 0.82.

Noah (NYSE:NOAH) last posted its earnings results on Wednesday, August 26th. The asset manager reported $0.51 EPS for the quarter. The company had revenue of $91.24 million during the quarter. Noah had a return on equity of 6.37% and a net margin of 22.57%. Analysts forecast that Noah Holdings Ltd. will post 1.31 EPS for the current year.

Noah Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Thursday, August 6th. Investors of record on Thursday, July 9th were paid a dividend of $1.3806 per share. This represents a yield of 778.0%. The ex-dividend date was Thursday, July 9th. This is an increase from Noah’s previous annual dividend of $1.16. Noah’s dividend payout ratio (DPR) is currently 51.22%.

Institutional Investors Weigh In On Noah

Large investors have recently added to or reduced their stakes in the stock. Creative Planning lifted its stake in Noah by 10.6% in the third quarter. Creative Planning now owns 12,516 shares of the asset manager’s stock valued at $145,000 after buying an additional 1,195 shares during the last quarter. American Century Companies Inc. grew its position in shares of Noah by 1.5% during the second quarter. American Century Companies Inc. now owns 139,499 shares of the asset manager’s stock worth $1,666,000 after acquiring an additional 2,084 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Noah by 2.2% in the 2nd quarter. Bank of America Corp DE now owns 99,919 shares of the asset manager’s stock worth $1,193,000 after acquiring an additional 2,163 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Noah by 17.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 16,070 shares of the asset manager’s stock worth $186,000 after acquiring an additional 2,412 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in Noah by 10.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 35,627 shares of the asset manager’s stock valued at $429,000 after purchasing an additional 3,251 shares during the last quarter. 42.67% of the stock is owned by institutional investors and hedge funds.

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.