Noah (NYSE:NOAH – Get Free Report) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.
Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered shares of Noah from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $14.70 to $12.00 in a research note on Thursday, March 26th. Wall Street Zen downgraded shares of Noah from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Weiss Ratings raised shares of Noah from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 29th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.00.
Read Our Latest Stock Report on Noah
Noah Stock Performance
Institutional Trading of Noah
Several institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Noah in the second quarter worth $14,128,000. FIL Ltd grew its stake in shares of Noah by 7.1% in the fourth quarter. FIL Ltd now owns 6,377,766 shares of the asset manager’s stock worth $64,033,000 after acquiring an additional 424,717 shares in the last quarter. Nuveen LLC grew its stake in shares of Noah by 35.0% in the fourth quarter. Nuveen LLC now owns 454,675 shares of the asset manager’s stock worth $4,565,000 after acquiring an additional 117,971 shares in the last quarter. Sei Investments Co. grew its stake in shares of Noah by 549.8% during the third quarter. Sei Investments Co. now owns 78,178 shares of the asset manager’s stock worth $906,000 after purchasing an additional 66,146 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Noah by 132.4% during the first quarter. Renaissance Technologies LLC now owns 95,500 shares of the asset manager’s stock worth $945,000 after purchasing an additional 54,400 shares in the last quarter. Institutional investors and hedge funds own 42.67% of the company’s stock.
Noah Company Profile
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.
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