Noah (NYSE:NOAH) Downgraded by JPMorgan Chase & Co. to Neutral

Noah (NYSE:NOAH) was downgraded by research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Thursday. They currently have a $12.00 price objective on the asset manager’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 5.89% from the stock’s current price.

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

Noah Trading Down 1.0%

NYSE NOAH opened at $11.33 on Thursday. Noah has a 12-month low of $7.67 and a 12-month high of $12.84. The company has a fifty day simple moving average of $11.66 and a two-hundred day simple moving average of $11.23. The stock has a market cap of $759.88 million, a P/E ratio of 10.21 and a beta of 0.73.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Creative Planning grew its stake in shares of Noah by 10.6% during the 3rd quarter. Creative Planning now owns 12,516 shares of the asset manager’s stock worth $145,000 after purchasing an additional 1,195 shares during the period. American Century Companies Inc. boosted its holdings in Noah by 1.5% during the second quarter. American Century Companies Inc. now owns 139,499 shares of the asset manager’s stock worth $1,666,000 after buying an additional 2,084 shares in the last quarter. Bank of America Corp DE grew its position in Noah by 2.2% during the second quarter. Bank of America Corp DE now owns 99,919 shares of the asset manager’s stock valued at $1,193,000 after buying an additional 2,163 shares during the period. BNP Paribas Financial Markets increased its holdings in Noah by 17.7% in the third quarter. BNP Paribas Financial Markets now owns 16,070 shares of the asset manager’s stock valued at $186,000 after buying an additional 2,412 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Noah by 10.0% in the second quarter. Russell Investments Group Ltd. now owns 35,627 shares of the asset manager’s stock worth $429,000 after acquiring an additional 3,251 shares during the period. 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.