Noah (NYSE:NOAH) Sets New 52-Week Low – Here’s What Happened

Noah Holdings Ltd. (NYSE:NOAH)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $8.26 and last traded at $8.27, with a volume of 17580 shares trading hands. The stock had previously closed at $8.40.

Wall Street Analyst Weigh In

Several research firms have issued reports on NOAH. Zacks Research upgraded Noah from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Weiss Ratings lowered Noah from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, July 10th. Wall Street Zen raised shares of Noah from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. 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 equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Noah currently has a consensus rating of “Hold” and an average target price of $10.75.

Noah Price Performance

The company has a market capitalization of $587.15 million, a P/E ratio of 8.06 and a beta of 0.81. The company has a fifty day moving average price of $9.59 and a 200 day moving average price of $10.50.

Noah Increases Dividend

The company also recently declared an annual dividend, which was paid on Thursday, August 6th. Stockholders of record on Thursday, July 9th were given a dividend of $1.3806 per share. This is a boost from Noah’s previous annual dividend of $1.16. The ex-dividend date was Thursday, July 9th. This represents a dividend yield of 778.0%. Noah’s payout ratio is 58.33%.

Institutional Trading of Noah

Several large investors have recently added to or reduced their stakes in the company. Federation des caisses Desjardins du Quebec bought a new position in shares of Noah in the fourth quarter valued at approximately $41,000. Quadrant Capital Group LLC bought a new stake in shares of Noah during the third quarter worth approximately $85,000. IMC Chicago LLC acquired a new position in Noah in the first quarter valued at approximately $100,000. Kestra Private Wealth Services LLC bought a new position in Noah in the first quarter valued at approximately $103,000. Finally, Ramsey Quantitative Systems bought a new stake in shares of Noah during the 2nd quarter valued at $105,000. 42.67% of the stock is owned by institutional investors and hedge funds.

Noah Company Profile

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.