Noah (NYSE:NOAH) Price Target Cut to $11.50 by Analysts at JPMorgan Chase & Co.

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

NOAH has been the subject of a number of other reports. Wall Street Zen raised Noah from a “hold” rating to a “buy” rating in a research note 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 Noah from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 29th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.75.

Noah Stock Performance

Shares of NYSE:NOAH traded down $0.04 during trading on Tuesday, reaching $10.54. The company had a trading volume of 170,072 shares, compared to its average volume of 64,761. The firm’s fifty day moving average is $10.36 and its 200 day moving average is $10.81. The firm has a market capitalization of $710.55 million, a PE ratio of 9.81 and a beta of 0.80. Noah has a twelve month low of $9.53 and a twelve month high of $12.84.

Institutional Investors Weigh In On Noah

Several hedge funds have recently modified their holdings of the stock. Federation des caisses Desjardins du Quebec purchased a new position in Noah in the 4th quarter worth about $41,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Noah in the third quarter worth about $84,000. Quadrant Capital Group LLC acquired a new position in shares of Noah in the third quarter worth about $85,000. IMC Chicago LLC purchased a new position in shares of Noah in the first quarter worth approximately $100,000. Finally, Kestra Private Wealth Services LLC purchased a new position in shares of Noah in the first quarter worth approximately $103,000. 42.67% of the stock is owned by hedge funds and other institutional investors.

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.