Noah (NYSE:NOAH – Free Report) had its target price reduced by JPMorgan Chase & Co. from $10.50 to $9.70 in a report issued on Monday,Benzinga reports. They currently have a neutral rating on the asset manager’s stock.
NOAH has been the subject of a number of other research reports. Weiss Ratings lowered Noah from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. Zacks Research upgraded Noah from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Finally, Wall Street Zen lowered shares of Noah from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $9.85.
Check Out Our Latest Report on Noah
Noah Stock Performance
Noah (NYSE:NOAH – Get Free Report) last released its quarterly earnings data on Friday, August 14th. The asset manager reported $0.51 earnings per share for the quarter. The business had revenue of $91.24 million during the quarter. Noah had a return on equity of 6.37% and a net margin of 22.57%. On average, research analysts forecast that Noah will post 1.38 earnings per share for the current year.
Institutional Trading of Noah
A number of hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC raised its stake in shares of Noah by 33.8% in the 2nd quarter. Hsbc Holdings PLC now owns 26,776 shares of the asset manager’s stock valued at $269,000 after acquiring an additional 6,770 shares in the last quarter. State Street Corp lifted its holdings in Noah by 2.9% in the 2nd quarter. State Street Corp now owns 322,218 shares of the asset manager’s stock worth $3,219,000 after purchasing an additional 8,948 shares during the last quarter. IMC Chicago LLC bought a new stake in Noah during the first quarter worth approximately $100,000. Kestra Private Wealth Services LLC bought a new stake in Noah during the first quarter worth approximately $103,000. Finally, Ramsey Quantitative Systems acquired a new position in Noah during the second quarter valued at approximately $105,000. Hedge funds and other institutional investors own 42.67% of the company’s stock.
About Noah
Noah Holdings Limited (NYSE: NOAH) is a Chinese wealth management and asset management services company. The company provides financial products and advisory services primarily to high-net-worth individuals, families, and institutional clients.
Its wealth management business offers clients access to a range of investment products, including private equity, public securities, credit and other alternative investments. Through its asset management operations, Noah develops and manages investment products and strategies for individual and institutional investors.
Founded in 2005, Noah serves clients through operations in mainland China and other financial centers, including Hong Kong.
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