Noah (NYSE:NOAH) Shares Gap Down to $10.30

Noah Holdings Limited (NYSE:NOAH) shares gapped down prior to trading on Wednesday . The stock had previously closed at $10.30, but opened at $8.80. Noah shares last traded at $7.85, with a volume of 295,752 shares traded.

Analyst Ratings Changes

NOAH has been the topic of several recent research reports. StockNews.com downgraded shares of Noah from a “buy” rating to a “hold” rating in a research report on Friday, May 31st. JPMorgan Chase & Co. downgraded shares of 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 report on Thursday, May 30th.

Noah Stock Down 3.2 %

The stock’s 50 day moving average price is $12.05 and its 200-day moving average price is $12.03. The stock has a market capitalization of $519.20 million, a PE ratio of 4.39 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 (EPS) for the quarter. The firm had revenue of $89.96 million during the quarter. Noah had a net margin of 31.26% and a return on equity of 9.08%. On average, analysts forecast that Noah Holdings Limited will post 1.37 earnings per share for the current year.

Noah Announces Dividend

The company also recently disclosed an annual dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 3rd will be paid 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 (DPR) is presently 58.10%.

Institutional Trading of Noah

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of Noah in the first quarter worth $30,000. Public Employees Retirement Association of Colorado purchased a new position in Noah during the first quarter valued at $40,000. Dodge & Cox grew its stake in Noah by 15.0% during the fourth quarter. Dodge & Cox now owns 26,840 shares of the asset manager’s stock valued at $371,000 after acquiring an additional 3,500 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Noah by 92.2% during the fourth quarter. Quadrant Capital Group LLC now owns 12,756 shares of the asset manager’s stock valued at $176,000 after acquiring an additional 6,120 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Noah by 34.5% during the fourth quarter. Russell Investments Group Ltd. now owns 31,011 shares of the asset manager’s stock valued at $428,000 after acquiring an additional 7,961 shares in the last quarter. 42.67% of the stock is owned by hedge funds and other 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.