Noah (NYSE:NOAH) Given New $9.70 Price Target at JPMorgan Chase & Co.

Noah (NYSE:NOAH) had its price target cut by JPMorgan Chase & Co. from $10.50 to $9.70 in a report issued on Monday,Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

Other analysts have also issued research reports about the stock. Zacks Research upgraded shares of Noah from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Wall Street Zen downgraded shares of Noah from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings lowered shares of Noah from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, July 10th. Four analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and an average target price of $9.85.

Noah Trading Up 0.6%

Noah stock opened at $8.15 on Monday. The firm has a market cap of $556.89 million, a PE ratio of 6.63 and a beta of 0.82. Noah has a 12 month low of $7.97 and a 12 month high of $12.44. The stock’s 50 day simple moving average is $8.53 and its two-hundred day simple moving average is $9.76.

Noah (NYSE:NOAH) last posted its earnings results on Friday, August 14th. The asset manager reported $0.51 earnings per share for the quarter. Noah had a net margin of 22.57% and a return on equity of 6.37%. The firm had revenue of $91.24 million during the quarter. On average, equities research analysts forecast that Noah will post 1.31 EPS for the current year.

Noah Increases Dividend

The company also recently declared an annual dividend, which was paid on Thursday, August 6th. Investors of record on Thursday, July 9th were given a dividend of $1.3806 per share. The ex-dividend date was Thursday, July 9th. This is a positive change from Noah’s previous annual dividend of $1.16. This represents a dividend yield of 778.0%. Noah’s dividend payout ratio (DPR) is presently 51.22%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NOAH. IMC Chicago LLC acquired a new stake in Noah during the 1st quarter worth $100,000. Kestra Private Wealth Services LLC purchased a new position in shares of Noah in the first quarter worth about $103,000. Ramsey Quantitative Systems acquired a new position in Noah during the second quarter worth about $105,000. SG Americas Securities LLC purchased a new stake in Noah during the 1st quarter valued at about $116,000. Finally, Hsbc Holdings PLC grew its stake in Noah by 33.8% during the 2nd quarter. Hsbc Holdings PLC now owns 26,776 shares of the asset manager’s stock valued at $269,000 after acquiring an additional 6,770 shares in the last quarter. 42.67% of the stock is owned by institutional investors and hedge funds.

Noah Company Profile

Noah Holdings Limited (NYSE: NOAH) is a Chinese wealth management and asset management services company. The company provides financial products and advisory services primarily to high-net-worth individuals, families, and institutional clients.

Its wealth management business offers clients access to a range of investment products, including private equity, public securities, credit and other alternative investments. Through its asset management operations, Noah develops and manages investment products and strategies for individual and institutional investors.

Founded in 2005, Noah serves clients through operations in mainland China and other financial centers, including Hong Kong.