Noah (NYSE:NOAH) Raised to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Noah (NYSE:NOAH) from a neutral rating to an overweight rating in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. The firm currently has $11.50 target price on the asset manager’s stock.

NOAH has been the subject of several other reports. UBS Group reissued a “neutral” rating and issued a $11.50 price target on shares of Noah in a report on Friday, March 28th. StockNews.com cut Noah from a “buy” rating to a “hold” rating in a research report on Thursday, March 20th.

Noah Stock Performance

Shares of NYSE NOAH opened at $8.35 on Wednesday. The stock has a fifty day moving average of $10.53 and a 200-day moving average of $11.44. The stock has a market cap of $550.82 million, a PE ratio of 7.14 and a beta of 0.78. Noah has a fifty-two week low of $7.14 and a fifty-two week high of $15.44.

Noah (NYSE:NOAH) last announced its quarterly earnings results on Tuesday, March 25th. The asset manager reported $0.26 earnings per share for the quarter. Noah had a return on equity of 6.43% and a net margin of 23.53%. The firm had revenue of $89.31 million for the quarter, compared to analysts’ expectations of $102.07 million. On average, sell-side analysts predict that Noah will post 0.93 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NOAH. FMR LLC purchased a new position in shares of Noah in the 3rd quarter worth about $8,895,000. Point72 Asset Management L.P. purchased a new stake in Noah in the third quarter worth approximately $566,000. Wolverine Trading LLC purchased a new position in shares of Noah during the third quarter worth approximately $196,000. Public Employees Retirement System of Ohio purchased a new position in shares of Noah during the third quarter worth approximately $199,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Noah by 10.4% in the 3rd 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 last quarter. Institutional investors own 42.67% of the company’s stock.

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.