Noah (NYSE:NOAH) Downgraded by StockNews.com

StockNews.com lowered shares of Noah (NYSE:NOAHGet Rating) from a buy rating to a hold rating in a report issued on Wednesday.

Separately, JPMorgan Chase & Co. upgraded shares of Noah from a neutral rating to an overweight rating and set a $22.00 price objective for the company in a research note on Wednesday, June 22nd.

Noah Stock Down 1.9 %

NOAH opened at $16.73 on Wednesday. Noah has a 52-week low of $15.06 and a 52-week high of $47.92. The company has a 50 day moving average of $18.00 and a two-hundred day moving average of $21.91. The company has a market cap of $1.01 billion, a P/E ratio of 6.22, a P/E/G ratio of 0.52 and a beta of 1.05.

Noah (NYSE:NOAHGet Rating) last released its quarterly earnings data on Wednesday, May 11th. The asset manager reported $0.73 earnings per share (EPS) for the quarter. Noah had a net margin of 30.16% and a return on equity of 15.27%. The company had revenue of $125.52 million during the quarter. Research analysts anticipate that Noah will post 3.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NOAH. BlackRock Inc. boosted its stake in shares of Noah by 5.8% in the first quarter. BlackRock Inc. now owns 1,699,678 shares of the asset manager’s stock valued at $39,994,000 after purchasing an additional 93,890 shares during the period. Russell Investments Group Ltd. raised its holdings in Noah by 155.1% in the second quarter. Russell Investments Group Ltd. now owns 118,342 shares of the asset manager’s stock valued at $2,381,000 after acquiring an additional 71,945 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Noah by 109.9% in the first quarter. Canada Pension Plan Investment Board now owns 118,200 shares of the asset manager’s stock valued at $2,781,000 after acquiring an additional 61,900 shares in the last quarter. Bridgewater Associates LP raised its holdings in Noah by 48.7% in the first quarter. Bridgewater Associates LP now owns 172,253 shares of the asset manager’s stock valued at $4,053,000 after acquiring an additional 56,402 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Noah by 3.2% in the first quarter. Vanguard Group Inc. now owns 1,340,389 shares of the asset manager’s stock valued at $31,539,000 after acquiring an additional 41,294 shares in the last quarter. 64.19% of the stock is currently owned by hedge funds and other institutional investors.

About Noah

(Get Rating)

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. The company operates through three segments: Wealth Management, Asset Management, and Other Businesses.

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