Noah (NYSE:NOAH) Receives Neutral Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their neutral rating on shares of Noah (NYSE:NOAH) in a report issued on Wednesday morning, MarketBeat.com reports. The firm currently has a $12.00 target price on the asset manager’s stock, up from their prior target price of $10.50.

A number of other analysts have also recently weighed in on NOAH. Morgan Stanley cut Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price target on the stock. in a research report on Friday, November 29th. StockNews.com lowered Noah from a “buy” rating to a “hold” rating in a research note on Sunday.

Noah Price Performance

Shares of NYSE:NOAH opened at $11.57 on Wednesday. The business’s fifty day moving average price is $11.05 and its two-hundred day moving average price is $11.15. Noah has a fifty-two week low of $7.14 and a fifty-two week high of $15.44. The stock has a market capitalization of $763.19 million, a price-to-earnings ratio of 9.89 and a beta of 0.78.

Hedge Funds Weigh In On Noah

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio boosted its stake in Noah by 18.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 19,085 shares of the asset manager’s stock worth $223,000 after purchasing an additional 2,930 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new position in shares of Noah during the fourth quarter valued at $454,000. Cubist Systematic Strategies LLC acquired a new position in shares of Noah during the fourth quarter valued at $52,000. Bank of America Corp DE lifted its stake in shares of Noah by 1,066.6% during the fourth quarter. Bank of America Corp DE now owns 83,902 shares of the asset manager’s stock valued at $982,000 after acquiring an additional 76,710 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in shares of Noah during the fourth quarter valued at $72,000. Institutional investors and hedge funds 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 Services.