Noah (NYSE:NOAH) Given New $11.50 Price Target at JPMorgan Chase & Co.

Noah (NYSE:NOAH) had its target price reduced by JPMorgan Chase & Co. from $12.00 to $11.50 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 9.16% from the stock’s previous close.

A number of other equities research analysts have also commented on the company. Wall Street Zen upgraded Noah from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research upgraded Noah from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Finally, Weiss Ratings raised shares of Noah from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 29th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.75.

Noah Stock Down 0.3%

Shares of Noah stock traded down $0.04 during midday trading on Tuesday, hitting $10.54. The company’s stock had a trading volume of 170,072 shares, compared to its average volume of 64,761. Noah has a 1-year low of $9.53 and a 1-year high of $12.84. The firm has a market capitalization of $710.55 million, a P/E ratio of 9.81 and a beta of 0.80. The stock has a 50-day simple moving average of $10.36 and a 200-day simple moving average of $10.81.

Institutional Investors Weigh In On Noah

Institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning increased its holdings in shares of Noah by 10.6% during the third quarter. Creative Planning now owns 12,516 shares of the asset manager’s stock worth $145,000 after buying an additional 1,195 shares in the last quarter. American Century Companies Inc. raised its position in Noah by 1.5% in the 2nd quarter. American Century Companies Inc. now owns 139,499 shares of the asset manager’s stock valued at $1,666,000 after purchasing an additional 2,084 shares during the last quarter. Bank of America Corp DE raised its position in Noah by 2.2% in the 2nd quarter. Bank of America Corp DE now owns 99,919 shares of the asset manager’s stock valued at $1,193,000 after purchasing an additional 2,163 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Noah by 17.7% in the third quarter. BNP Paribas Financial Markets now owns 16,070 shares of the asset manager’s stock worth $186,000 after purchasing an additional 2,412 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Noah by 10.0% during the second quarter. Russell Investments Group Ltd. now owns 35,627 shares of the asset manager’s stock worth $429,000 after purchasing an additional 3,251 shares during the last quarter. Institutional investors and hedge funds own 42.67% of the company’s stock.

About Noah

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.