Noah (NYSE:NOAH) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Noah (NYSE:NOAH) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Other equities research analysts have also issued reports about the stock. Morgan Stanley lowered shares of Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price objective on the stock. in a report on Friday, November 29th. UBS Group lowered shares of Noah from a “buy” rating to a “neutral” rating and set a $13.00 target price on the stock. in a research note on Thursday, October 24th.

Noah Trading Down 2.2 %

NOAH opened at $11.45 on Friday. Noah has a 12 month low of $7.14 and a 12 month high of $15.44. The stock has a 50-day moving average of $11.18 and a 200 day moving average of $10.81. The firm has a market cap of $755.22 million, a P/E ratio of 9.78 and a beta of 0.78.

Noah (NYSE:NOAH) last posted its quarterly earnings results on Tuesday, November 26th. The asset manager reported $0.30 earnings per share for the quarter. Noah had a net margin of 23.53% and a return on equity of 6.43%. On average, research analysts forecast that Noah will post 0.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. FIL Ltd raised its holdings in Noah by 11.3% in the 4th quarter. FIL Ltd now owns 4,260,790 shares of the asset manager’s stock valued at $49,894,000 after acquiring an additional 432,599 shares during the last quarter. Franklin Resources Inc. raised its holdings in Noah by 9.4% in the 4th quarter. Franklin Resources Inc. now owns 1,955,360 shares of the asset manager’s stock valued at $22,897,000 after acquiring an additional 168,733 shares during the last quarter. FMR LLC acquired a new stake in Noah in the 3rd quarter valued at about $8,895,000. Dimensional Fund Advisors LP raised its holdings in Noah by 9.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 391,159 shares of the asset manager’s stock valued at $4,578,000 after acquiring an additional 34,350 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Noah by 12.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 185,996 shares of the asset manager’s stock valued at $2,178,000 after acquiring an additional 21,178 shares during the last quarter. Institutional investors and hedge funds 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.