Noah (NYSE:NOAH) Stock Rating Lowered by StockNews.com

Posted by on May 19th, 2023

Noah (NYSE:NOAH – Get Rating) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Noah Trading Down 0.9 %

NOAH opened at $15.74 on Friday. The company’s fifty day moving average price is $16.36 and its two-hundred day moving average price is $16.77. Noah has a 1-year low of $11.78 and a 1-year high of $21.98. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 7.36, a PEG ratio of 2.75 and a beta of 1.05.

Noah (NYSE:NOAH – Get Rating) last released its quarterly earnings data on Monday, March 27th. The asset manager reported $0.31 earnings per share for the quarter. Noah had a net margin of 31.79% and a return on equity of 11.27%. The firm had revenue of $127.89 million for the quarter. As a group, equities analysts forecast that Noah will post 2.58 earnings per share for the current fiscal year.

Institutional Trading of Noah

Several institutional investors and hedge funds have recently made changes to their positions in NOAH. Envestnet Asset Management Inc. raised its holdings in shares of Noah by 29.4% in the first quarter. Envestnet Asset Management Inc. now owns 14,728 shares of the asset manager’s stock valued at $347,000 after purchasing an additional 3,349 shares during the last quarter. JPMorgan Chase & Co. grew its position in Noah by 27.3% during the first quarter. JPMorgan Chase & Co. now owns 107,361 shares of the asset manager’s stock valued at $2,526,000 after buying an additional 23,018 shares during the period. American Century Companies Inc. grew its position in Noah by 16.1% during the first quarter. American Century Companies Inc. now owns 23,429 shares of the asset manager’s stock valued at $551,000 after buying an additional 3,254 shares during the period. BlackRock Inc. grew its position in Noah by 5.8% during the first quarter. BlackRock Inc. now owns 1,699,678 shares of the asset manager’s stock valued at $39,994,000 after buying an additional 93,890 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in Noah by 109.9% during the first quarter. Canada Pension Plan Investment Board now owns 118,200 shares of the asset manager’s stock valued at $2,781,000 after buying an additional 61,900 shares during the period. Hedge funds and other institutional investors own 45.44% of the company’s stock.

Noah Company Profile

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Noah Holdings Ltd. provides investment advisory and wealth management services. It operates business through the following segments: Wealth Management, Asset Management, and Lending & Other servicers. The Wealth Management segment offers a global wealth investment and asset allocation services to high net worth individuals and enterprise clients in China.

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