Noah (NYSE:NOAH) Lowered to “Neutral” Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Noah (NYSE:NOAH) from an overweight rating to a neutral rating in a report issued on Thursday morning, Marketbeat.com reports. They currently have $12.00 price target on the asset manager’s stock, down from their previous price target of $14.70.

NOAH has been the subject of a number of other research reports. Zacks Research upgraded Noah from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Noah in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Noah from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, UBS Group decreased their target price on shares of Noah from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, December 22nd. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Noah has an average rating of “Hold” and a consensus target price of $11.00.

Noah Trading Down 13.0%

Shares of NYSE NOAH opened at $9.85 on Thursday. Noah has a 12-month low of $7.67 and a 12-month high of $12.84. The company has a market cap of $660.64 million, a PE ratio of 8.88 and a beta of 0.73. The stock has a 50 day simple moving average of $11.64 and a 200-day simple moving average of $11.22.

Institutional Trading of Noah

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC boosted its stake in shares of Noah by 307.2% during the 1st quarter. Cubist Systematic Strategies LLC now owns 17,980 shares of the asset manager’s stock worth $170,000 after acquiring an additional 13,564 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Noah by 17.9% during the second quarter. Geode Capital Management LLC now owns 26,896 shares of the asset manager’s stock worth $321,000 after purchasing an additional 4,080 shares during the period. American Century Companies Inc. lifted its holdings in shares of Noah by 1.5% during the second quarter. American Century Companies Inc. now owns 139,499 shares of the asset manager’s stock valued at $1,666,000 after purchasing an additional 2,084 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Noah by 10.0% during the second quarter. Russell Investments Group Ltd. now owns 35,627 shares of the asset manager’s stock valued at $429,000 after purchasing an additional 3,251 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Noah in the 2nd quarter valued at $306,000. 42.67% of the stock is owned by institutional investors and hedge funds.

Noah Company Profile

Noah Holdings Limited is a China-based wealth management and asset management firm specializing in tailored advisory services for high-net-worth individuals, family offices and select institutional clients. The company offers a broad range of investment solutions that draw on its deep market research and partner network to provide access to both onshore and offshore products. Noah’s business model centers on delivering structured investment products, portfolio management services and family wealth planning solutions designed to meet the evolving needs of affluent clients in China and beyond.

Noah’s main service lines include discretionary portfolio management, fund distribution, private equity and venture capital fund platforms, and alternative investment strategies such as real estate and insurance-linked products.