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

Noah (NYSE:NOAH) was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued on Thursday, MarketBeat Ratings reports. They currently have a $12.00 price target on the asset manager’s stock, down from their previous price target of $14.70. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 18.88% from the company’s previous close.

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

Noah Stock Up 2.1%

Noah stock opened at $10.09 on Thursday. Noah has a 52-week low of $7.67 and a 52-week high of $12.84. The company has a market cap of $676.80 million, a P/E ratio of 9.09 and a beta of 0.73. The business has a 50-day simple moving average of $11.62 and a two-hundred day simple moving average of $11.20.

Institutional Trading of Noah

A number of large investors have recently modified their holdings of the company. Federation des caisses Desjardins du Quebec bought a new position in Noah in the fourth quarter worth approximately $41,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Noah during the 3rd quarter valued at $84,000. Quadrant Capital Group LLC purchased a new stake in shares of Noah in the 3rd quarter worth $85,000. New York State Common Retirement Fund bought a new position in shares of Noah during the 3rd quarter worth $105,000. Finally, Virtu Financial LLC purchased a new position in shares of Noah during the fourth quarter valued at $115,000. Hedge funds and other institutional investors own 42.67% of the company’s stock.

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.