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

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

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

Noah Stock Up 6.2 %

Shares of NOAH opened at $11.57 on Wednesday. Noah has a 12-month low of $7.14 and a 12-month high of $15.44. The stock’s fifty day simple moving average is $11.05 and its 200-day simple moving average is $11.15. The firm has a market capitalization of $763.19 million, a PE ratio of 9.89 and a beta of 0.78.

Institutional Investors Weigh In On Noah

Large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its holdings in shares of Noah by 1,188.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the asset manager’s stock worth $28,000 after acquiring an additional 2,187 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new position in shares of Noah during the fourth quarter worth about $39,000. Cubist Systematic Strategies LLC bought a new position in shares of Noah during the fourth quarter worth about $52,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Noah during the third quarter worth about $65,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Noah during the fourth quarter worth about $72,000. 42.67% of the stock is currently owned by institutional investors.

Noah Company Profile

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.