Noah (NYSE:NOAH) Lifted to “Buy” at Citigroup

Noah (NYSE:NOAH) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, Briefing.com Automated Import reports.

A number of other equities research analysts have also issued reports on NOAH. TheStreet lowered Noah from a “b” rating to a “c+” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. upgraded Noah from a “neutral” rating to an “overweight” rating and set a $52.00 price target for the company in a research report on Wednesday, May 29th. Zacks Investment Research upgraded Noah from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, ValuEngine lowered Noah from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $53.09.

NYSE:NOAH traded up $0.77 during trading hours on Monday, hitting $31.51. 236,896 shares of the stock were exchanged, compared to its average volume of 474,667. Noah has a 52-week low of $28.17 and a 52-week high of $60.14. The firm’s fifty day moving average price is $30.50 and its 200 day moving average price is $41.84. The company has a market cap of $1.76 billion, a P/E ratio of 16.24 and a beta of 1.97.



Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP acquired a new position in Noah in the first quarter valued at approximately $49,000. Quantamental Technologies LLC acquired a new position in Noah during the second quarter worth $52,000. Skandinaviska Enskilda Banken AB publ acquired a new position in Noah during the second quarter worth $55,000. Guinness Asset Management Ltd lifted its stake in Noah by 13.8% during the second quarter. Guinness Asset Management Ltd now owns 2,810 shares of the asset manager’s stock worth $120,000 after purchasing an additional 340 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. lifted its stake in Noah by 100.0% during the second quarter. NN Investment Partners Holdings N.V. now owns 3,800 shares of the asset manager’s stock worth $162,000 after purchasing an additional 1,900 shares in the last quarter. Hedge funds and other institutional investors own 54.26% of the company’s stock.

About Noah

Noah Holdings Limited, through its subsidiaries, operates as a wealth and asset management service provider with focus on wealth investment and asset allocation services for high net worth individuals and enterprises in the People's Republic of China. The company operates through three segments: Wealth Management, Asset Management, and Other Financial Service.

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