Noah (NYSE:NOAH) Downgraded by StockNews.com to “Hold”

Noah (NYSE:NOAH) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. restated a “neutral” rating and set a $12.00 price objective (up previously from $10.50) on shares of Noah in a report on Wednesday, March 5th. Morgan Stanley cut shares of Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price objective for the company. in a research report on Friday, November 29th.

Noah Trading Up 1.1 %

Shares of NOAH opened at $11.59 on Thursday. The stock has a market cap of $764.64 million, a P/E ratio of 9.91 and a beta of 0.71. The stock’s 50-day moving average price is $11.00 and its two-hundred day moving average price is $11.37. Noah has a 1 year low of $7.14 and a 1 year high of $15.44.

Institutional Investors Weigh In On Noah

A number of institutional investors and hedge funds have recently made changes to their positions in NOAH. Franklin Resources Inc. increased its holdings in Noah by 10.4% during the third quarter. Franklin Resources Inc. now owns 1,786,627 shares of the asset manager’s stock worth $24,441,000 after buying an additional 167,685 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Noah in the third quarter valued at $566,000. FMR LLC bought a new position in shares of Noah in the 3rd quarter valued at about $8,895,000. Ballentine Partners LLC raised its holdings in shares of Noah by 16.7% in the 4th quarter. Ballentine Partners LLC now owns 27,565 shares of the asset manager’s stock valued at $323,000 after purchasing an additional 3,948 shares during the period. Finally, Wolverine Trading LLC acquired a new stake in Noah in the 3rd quarter valued at about $196,000. Institutional investors own 42.67% of the company’s stock.

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.