Noah (NYSE:NOAH) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Noah (NYSE:NOAH) from a buy rating to a hold rating in a research report report published on Saturday morning.

Noah Stock Performance

Shares of NYSE:NOAH opened at $11.10 on Friday. Noah has a 52 week low of $7.67 and a 52 week high of $14.90. The company has a market capitalization of $734.60 million, a PE ratio of 9.91 and a beta of 0.90. The company has a 50 day moving average price of $12.04 and a two-hundred day moving average price of $10.94.

Noah (NYSE:NOAH) last issued its earnings results on Wednesday, August 27th. The asset manager reported $0.37 EPS for the quarter. Noah had a net margin of 22.17% and a return on equity of 6.44%. The firm had revenue of $87.87 million during the quarter, compared to the consensus estimate of $86.31 million. On average, sell-side analysts forecast that Noah will post 0.93 earnings per share for the current year.

Noah Cuts Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were given a dividend of $1.1572 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a dividend yield of 830.0%. Noah’s dividend payout ratio is currently 50.00%.

Institutional Investors Weigh In On Noah

Several large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Noah during the second quarter worth $14,128,000. Acadian Asset Management LLC increased its position in shares of Noah by 61.9% during the first quarter. Acadian Asset Management LLC now owns 696,967 shares of the asset manager’s stock worth $6,563,000 after acquiring an additional 266,602 shares in the last quarter. First Beijing Investment Ltd increased its position in shares of Noah by 19.5% during the first quarter. First Beijing Investment Ltd now owns 163,443 shares of the asset manager’s stock worth $1,545,000 after acquiring an additional 26,710 shares in the last quarter. American Century Companies Inc. boosted its holdings in 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 purchasing an additional 2,084 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Noah by 2.2% during the second quarter. Bank of America Corp DE now owns 99,919 shares of the asset manager’s stock worth $1,193,000 after purchasing an additional 2,163 shares during the last quarter. Institutional investors own 42.67% of the company’s stock.

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.