Noah (NYSE:NOAH) Shares Gap Up to $9.75

Shares of Noah Holdings Limited (NYSE:NOAH) gapped up before the market opened on Tuesday . The stock had previously closed at $9.75, but opened at $9.98. Noah shares last traded at $9.95, with a volume of 65,875 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NOAH. JPMorgan Chase & Co. lowered Noah from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $18.00 to $13.00 in a research note on Thursday, May 30th. StockNews.com lowered Noah from a “buy” rating to a “hold” rating in a research note on Friday, May 31st.

Noah Trading Up 2.6 %

The stock has a 50-day simple moving average of $12.22 and a two-hundred day simple moving average of $12.12. The firm has a market capitalization of $661.40 million, a P/E ratio of 5.44 and a beta of 0.76.

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

Noah Announces Dividend

The business also recently declared an annual dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 3rd will be issued a $2.1249 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a dividend yield of 10.4%. Noah’s dividend payout ratio is presently 20.11%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new position in shares of Noah in the 1st quarter valued at $30,000. Public Employees Retirement Association of Colorado purchased a new position in Noah during the 1st quarter worth $40,000. Quadrature Capital Ltd purchased a new position in Noah during the 3rd quarter worth $129,000. Quadrant Capital Group LLC grew its stake in Noah by 92.2% during the 4th quarter. Quadrant Capital Group LLC now owns 12,756 shares of the asset manager’s stock worth $176,000 after buying an additional 6,120 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in Noah by 260.8% during the 3rd quarter. Acadian Asset Management LLC now owns 13,853 shares of the asset manager’s stock worth $169,000 after buying an additional 10,014 shares during the last quarter. 42.67% of the stock is currently owned by hedge funds and other institutional investors.

About Noah

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.