Janney Montgomery Scott LLC Purchases New Holdings in Noah Holdings Ltd. (NYSE:NOAH)

Janney Montgomery Scott LLC acquired a new position in shares of Noah Holdings Ltd. (NYSE:NOAH) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 37,426 shares of the asset manager’s stock, valued at approximately $354,000.

Several other large investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its stake in shares of Noah by 1,188.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the asset manager’s stock valued at $28,000 after buying an additional 2,187 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of Noah by 18.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 19,085 shares of the asset manager’s stock valued at $223,000 after acquiring an additional 2,930 shares during the period. Public Employees Retirement Association of Colorado bought a new position in Noah in the fourth quarter valued at about $39,000. Barclays PLC boosted its holdings in Noah by 14.0% in the fourth quarter. Barclays PLC now owns 28,660 shares of the asset manager’s stock valued at $335,000 after acquiring an additional 3,524 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Noah in the fourth quarter worth about $52,000. Institutional investors and hedge funds own 42.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NOAH shares. JPMorgan Chase & Co. upgraded shares of Noah from a “neutral” rating to an “overweight” rating and set a $11.50 target price on the stock in a research report on Wednesday, April 9th. Wall Street Zen downgraded shares of Noah from a “buy” rating to a “hold” rating in a research note on Thursday, March 20th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $11.50 price objective on shares of Noah in a research note on Friday, March 28th.

Noah Stock Down 10.7%

Shares of Noah stock opened at $11.25 on Friday. The business has a fifty day simple moving average of $10.74 and a 200 day simple moving average of $10.60. The stock has a market cap of $744.08 million, a PE ratio of 11.59 and a beta of 0.88. Noah Holdings Ltd. has a 12 month low of $7.21 and a 12 month high of $14.90.

Noah (NYSE:NOAH) last issued its earnings results on Wednesday, May 28th. The asset manager reported $0.33 earnings per share (EPS) for the quarter. The firm had revenue of $84.69 million for the quarter. Noah had a return on equity of 5.62% and a net margin of 19.22%. Analysts expect that Noah Holdings Ltd. will post 0.93 EPS for the current fiscal year.

Noah Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be paid a dividend of $1.1572 per share. This represents a yield of 8.3%. The ex-dividend date is Thursday, July 3rd. Noah’s payout ratio is 117.53%.

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.