AllianceBernstein Holding L.P. (NYSE:AB) Receives $41.83 Consensus Price Target from Analysts

AllianceBernstein Holding L.P. (NYSE:AB) has earned an average recommendation of “Hold” from the eight analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $41.8333.

AB has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of AllianceBernstein in a research note on Wednesday, October 8th. Zacks Research lowered AllianceBernstein from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Sanford C. Bernstein reiterated a “negative” rating on shares of AllianceBernstein in a report on Thursday, January 15th. Evercore ISI raised their price objective on shares of AllianceBernstein from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, December 5th. Finally, TD Cowen reaffirmed a “hold” rating on shares of AllianceBernstein in a research report on Wednesday, January 14th.

AllianceBernstein Trading Down 1.2%

NYSE AB opened at $41.40 on Friday. AllianceBernstein has a 1 year low of $32.28 and a 1 year high of $44.11. The company has a fifty day simple moving average of $40.13 and a 200 day simple moving average of $39.76. The company has a market cap of $3.77 billion, a P/E ratio of 13.62, a P/E/G ratio of 1.21 and a beta of 0.87.

Institutional Investors Weigh In On AllianceBernstein

Several institutional investors and hedge funds have recently bought and sold shares of the business. MGO One Seven LLC increased its stake in AllianceBernstein by 29.1% in the fourth quarter. MGO One Seven LLC now owns 41,428 shares of the asset manager’s stock valued at $1,594,000 after acquiring an additional 9,340 shares during the period. Crestwood Advisors Group LLC boosted its holdings in AllianceBernstein by 1,243.9% during the fourth quarter. Crestwood Advisors Group LLC now owns 218,727 shares of the asset manager’s stock valued at $8,417,000 after purchasing an additional 202,451 shares in the last quarter. Pekin Hardy Strauss Inc. grew its stake in shares of AllianceBernstein by 8.8% in the 4th quarter. Pekin Hardy Strauss Inc. now owns 6,204 shares of the asset manager’s stock valued at $239,000 after purchasing an additional 500 shares during the period. D.A. Davidson & CO. raised its holdings in shares of AllianceBernstein by 10.7% in the 4th quarter. D.A. Davidson & CO. now owns 165,739 shares of the asset manager’s stock worth $6,378,000 after buying an additional 15,974 shares in the last quarter. Finally, HB Wealth Management LLC acquired a new position in shares of AllianceBernstein in the 4th quarter worth approximately $595,000. Institutional investors own 19.25% of the company’s stock.

AllianceBernstein Company Profile

AllianceBernstein is a global investment management firm that offers a broad range of research-driven strategies across equities, fixed income, multi-asset solutions and alternative investments. The firm provides active and quantitative portfolio management, drawing on in-house research capabilities to serve the needs of institutional clients, private wealth investors and intermediaries. Its product lineup encompasses mutual funds, separately managed accounts and customized investment vehicles designed to meet diverse risk-return objectives.

The firm’s roots date back to 1967 with the founding of Sanford C.