JPMorgan Chase & Co. Reaffirms Neutral Rating for Noah (NYSE:NOAH)

Noah (NYSE:NOAH)‘s stock had its “neutral” rating reaffirmed by analysts at JPMorgan Chase & Co. in a report issued on Wednesday, Marketbeat reports. They currently have a $12.00 price objective on the asset manager’s stock, up from their prior price objective of $10.50. JPMorgan Chase & Co.‘s target price indicates a potential upside of 7.11% from the company’s current price.

A number of other analysts have also commented on NOAH. Morgan Stanley lowered Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price target 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, March 2nd.

Noah Trading Down 3.3 %

Shares of NOAH stock opened at $11.20 on Wednesday. The business’s 50-day moving average price is $11.04 and its 200-day moving average price is $11.15. Noah has a 12 month low of $7.14 and a 12 month high of $15.44. The firm has a market capitalization of $739.11 million, a price-to-earnings ratio of 9.58 and a beta of 0.78.

Hedge Funds Weigh In On Noah

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. lifted its stake in shares of Noah by 10.4% in the third quarter. Franklin Resources Inc. now owns 1,786,627 shares of the asset manager’s stock worth $24,441,000 after acquiring an additional 167,685 shares during the period. Point72 Asset Management L.P. acquired a new position in Noah in the third quarter valued at approximately $566,000. FMR LLC acquired a new position in Noah in the third quarter valued at approximately $8,895,000. Ballentine Partners LLC lifted its stake in Noah by 16.7% in the fourth quarter. Ballentine Partners LLC now owns 27,565 shares of the asset manager’s stock valued at $323,000 after buying an additional 3,948 shares during the period. Finally, Wolverine Trading LLC acquired a new position in Noah in the third quarter valued at approximately $196,000. 42.67% of the stock is owned by institutional investors and hedge funds.

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.