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

Noah Holdings Limited (NYSE:NOAH)’s share price 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.

Analyst Upgrades and Downgrades

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

Noah Trading Down 22.9 %

The company’s fifty day simple moving average is $12.14 and its 200-day simple moving average is $12.06. The stock has a market cap of $525.15 million, a P/E ratio of 4.30 and a beta of 0.76.

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

Noah Dividend Announcement

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 issued a dividend of $2.1249 per share. This represents a dividend yield of 10.4%. The ex-dividend date of this dividend is Wednesday, July 3rd. Noah’s payout ratio is 20.11%.

Institutional Trading of Noah

Several large investors have recently made changes to their positions in NOAH. Quadrature Capital Ltd bought a new position in shares of Noah in the third quarter worth about $129,000. Russell Investments Group Ltd. boosted its holdings in Noah by 34.5% in 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 during the last quarter. Quadrant Capital Group LLC increased its position in Noah by 92.2% in the fourth quarter. Quadrant Capital Group LLC now owns 12,756 shares of the asset manager’s stock worth $176,000 after purchasing an additional 6,120 shares during the period. Trexquant Investment LP raised its holdings in Noah by 68.8% during the 4th quarter. Trexquant Investment LP now owns 28,935 shares of the asset manager’s stock worth $400,000 after purchasing an additional 11,797 shares during the last quarter. Finally, Dodge & Cox lifted its position in Noah by 15.0% during the 4th quarter. Dodge & Cox now owns 26,840 shares of the asset manager’s stock valued at $371,000 after purchasing an additional 3,500 shares during the period. Institutional investors own 42.67% of the company’s stock.

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.