Noah (NYSE:NOAH) Shares Gap Up to $11.96

Noah Holdings Limited (NYSE:NOAH)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $11.96, but opened at $12.43. Noah shares last traded at $12.35, with a volume of 6,510 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NOAH. JPMorgan Chase & Co. upgraded shares of Noah from a “neutral” rating to an “overweight” rating and set a $18.00 target price on the stock in a report on Tuesday. StockNews.com upgraded shares of Noah from a “buy” rating to a “strong-buy” rating in a report on Wednesday.

Noah Trading Up 13.2 %

The stock has a market cap of $877.21 million, a P/E ratio of 7.08, a PEG ratio of 2.20 and a beta of 1.01. The stock’s fifty day moving average price is $14.14 and its 200 day moving average price is $15.90.

Noah (NYSE:NOAH) last announced its quarterly earnings results on Tuesday, May 30th. The asset manager reported $0.50 earnings per share (EPS) for the quarter. The company had revenue of $116.99 million for the quarter. Noah had a net margin of 29.60% and a return on equity of 10.03%. As a group, sell-side analysts forecast that Noah Holdings Limited will post 2.39 earnings per share for the current year.

Noah Announces Dividend

The company also recently declared a — dividend, which was paid on Friday, July 21st. Investors of record on Tuesday, June 27th were paid a $0.38 dividend. This represents a yield of 2.3%. The ex-dividend date of this dividend was Monday, June 26th. Noah’s payout ratio is 18.56%.

Hedge Funds Weigh In On Noah

A number of hedge funds have recently bought and sold shares of NOAH. Nuveen Asset Management LLC raised its position in Noah by 30.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 35,400 shares of the asset manager’s stock worth $498,000 after buying an additional 8,200 shares during the last quarter. State Street Corp raised its position in Noah by 14.2% in the 2nd quarter. State Street Corp now owns 245,514 shares of the asset manager’s stock worth $3,549,000 after buying an additional 30,543 shares during the last quarter. River & Mercantile Asset Management LLP raised its position in Noah by 1.3% in the 2nd quarter. River & Mercantile Asset Management LLP now owns 60,083 shares of the asset manager’s stock worth $844,000 after buying an additional 770 shares during the last quarter. BlackRock Inc. raised its position in Noah by 6.6% in the 2nd quarter. BlackRock Inc. now owns 855,232 shares of the asset manager’s stock worth $12,042,000 after buying an additional 52,783 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Noah by 31.4% in the 2nd quarter. Franklin Resources Inc. now owns 651,294 shares of the asset manager’s stock worth $9,170,000 after buying an additional 155,742 shares during the last quarter. 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 Businesses.