Noah (NYSE:NOAH) Downgraded to Hold Rating by StockNews.com

Noah (NYSE:NOAH) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other equities research analysts have also issued reports on the company. Morgan Stanley lowered Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 target price for the company. in a research report on Friday, November 29th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $12.00 target price (up from $10.50) on shares of Noah in a research report on Wednesday, March 5th.

Noah Trading Down 0.5 %

NYSE NOAH opened at $11.06 on Thursday. Noah has a 12 month low of $7.14 and a 12 month high of $15.44. The firm has a market capitalization of $729.67 million, a P/E ratio of 9.45 and a beta of 0.71. The business has a fifty day simple moving average of $11.03 and a 200 day simple moving average of $11.38.

Institutional Investors Weigh In On Noah

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its stake in Noah by 10.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,786,627 shares of the asset manager’s stock valued at $24,441,000 after acquiring an additional 167,685 shares during the period. Point72 Asset Management L.P. bought a new stake in Noah in the 3rd quarter valued at about $566,000. FMR LLC bought a new stake in Noah in the 3rd quarter valued at about $8,895,000. Ballentine Partners LLC raised its stake in Noah by 16.7% in the 4th quarter. Ballentine Partners LLC now owns 27,565 shares of the asset manager’s stock valued at $323,000 after acquiring an additional 3,948 shares during the period. Finally, Wolverine Trading LLC bought a new stake in Noah in the 3rd quarter valued at about $196,000. 42.67% of the stock is currently owned by institutional investors.

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.