Noah (NYSE:NOAH) Cut to Hold at StockNews.com

StockNews.com lowered shares of Noah (NYSE:NOAH) from a buy rating to a hold rating in a report published on Thursday.

A number of other equities analysts have also weighed in on the stock. Morgan Stanley lowered shares of 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. reiterated a “neutral” rating and set a $12.00 target price (up previously from $10.50) on shares of Noah in a research report on Wednesday, March 5th.

Noah Stock Performance

NOAH opened at $11.06 on Thursday. The firm has a market cap of $729.67 million, a P/E ratio of 9.45 and a beta of 0.71. The firm has a 50-day moving average of $11.03 and a 200 day moving average of $11.41. Noah has a fifty-two week low of $7.14 and a fifty-two week high of $15.44.

Institutional Investors Weigh In On Noah

A number of institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio lifted its holdings in shares of 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 buying an additional 2,930 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in shares of Noah in the fourth quarter worth about $454,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Noah in the fourth quarter worth about $52,000. Bank of America Corp DE raised its stake in Noah by 1,066.6% in the fourth quarter. Bank of America Corp DE now owns 83,902 shares of the asset manager’s stock valued at $982,000 after purchasing an additional 76,710 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Noah in the fourth quarter valued at approximately $72,000. 42.67% of the stock is owned by hedge funds and other 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.