Public Employees Retirement System of Ohio Reduces Stock Position in Noah Holdings Ltd. $NOAH

Public Employees Retirement System of Ohio lowered its stake in shares of Noah Holdings Ltd. (NYSE:NOAH) by 8.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,787 shares of the asset manager’s stock after selling 1,370 shares during the period. Public Employees Retirement System of Ohio’s holdings in Noah were worth $177,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC purchased a new stake in shares of Noah during the first quarter worth $354,000. Russell Investments Group Ltd. lifted its position in shares of Noah by 1,440.2% during the first quarter. Russell Investments Group Ltd. now owns 32,376 shares of the asset manager’s stock worth $328,000 after acquiring an additional 30,274 shares in the last quarter. Acadian Asset Management LLC lifted 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. Hsbc Holdings PLC lifted its position in shares of Noah by 198.3% during the first quarter. Hsbc Holdings PLC now owns 38,002 shares of the asset manager’s stock worth $362,000 after acquiring an additional 25,263 shares in the last quarter. Finally, Everstar Asset Management LLC purchased a new stake in shares of Noah during the first quarter worth $217,000. Hedge funds and other institutional investors own 42.67% of the company’s stock.

Noah Stock Up 1.0%

NYSE NOAH opened at $12.08 on Tuesday. The stock’s 50-day simple moving average is $11.92 and its two-hundred day simple moving average is $10.99. Noah Holdings Ltd. has a twelve month low of $7.67 and a twelve month high of $14.90. The company has a market capitalization of $799.45 million, a price-to-earnings ratio of 10.79 and a beta of 0.87.

Noah (NYSE:NOAH) last released its quarterly earnings results on Wednesday, August 27th. The asset manager reported $0.37 earnings per share for the quarter. Noah had a return on equity of 6.44% and a net margin of 22.17%.The business had revenue of $87.87 million for the quarter, compared to the consensus estimate of $86.31 million. On average, equities analysts expect that Noah Holdings Ltd. will post 0.93 earnings per share for the current fiscal year.

Noah Cuts Dividend

The company also recently declared an annual dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were given a dividend of $1.1572 per share. The ex-dividend date was Thursday, July 3rd. This represents a yield of 830.0%. Noah’s dividend payout ratio (DPR) is presently 50.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NOAH shares. Wall Street Zen downgraded Noah from a “buy” rating to a “hold” rating in a research report on Saturday, September 20th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Noah in a research report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $12.00.

Noah 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.