Shares of AllianceBernstein Holding LP (NYSE:AB) have received a consensus rating of “Buy” from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $28.00.

AB has been the subject of several research analyst reports. Zacks Investment Research lowered AllianceBernstein from a “buy” rating to a “hold” rating in a report on Monday, December 18th. ValuEngine raised AllianceBernstein from a “hold” rating to a “buy” rating in a report on Friday, December 1st.

In related news, insider Axa Equitable Holdings, Inc. bought 124,983 shares of the stock in a transaction dated Friday, December 15th. The stock was bought at an average cost of $24.95 per share, with a total value of $3,118,325.85. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Edward J. Farrell sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $25.20, for a total value of $252,000.00. Following the transaction, the senior vice president now directly owns 19,147 shares of the company’s stock, valued at $482,504.40. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. WFG Advisors LP grew its holdings in AllianceBernstein by 24.2% in the 2nd quarter. WFG Advisors LP now owns 6,311 shares of the asset manager’s stock worth $149,000 after buying an additional 1,228 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in AllianceBernstein by 399.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 14,980 shares of the asset manager’s stock worth $354,000 after buying an additional 11,980 shares in the last quarter. Virtu KCG Holdings LLC bought a new position in AllianceBernstein in the 2nd quarter worth approximately $424,000. Citigroup Inc. grew its holdings in AllianceBernstein by 64.2% in the 2nd quarter. Citigroup Inc. now owns 20,937 shares of the asset manager’s stock worth $495,000 after buying an additional 8,187 shares in the last quarter. Finally, First Allied Advisory Services Inc. grew its holdings in AllianceBernstein by 68.1% in the 3rd quarter. First Allied Advisory Services Inc. now owns 28,815 shares of the asset manager’s stock worth $696,000 after buying an additional 11,675 shares in the last quarter. 20.77% of the stock is owned by institutional investors and hedge funds.

Shares of AllianceBernstein (NYSE AB) opened at $27.20 on Tuesday. The firm has a market capitalization of $2,546.64, a PE ratio of 12.83, a P/E/G ratio of 1.33 and a beta of 1.59. AllianceBernstein has a fifty-two week low of $20.40 and a fifty-two week high of $27.80.

AllianceBernstein (NYSE:AB) last announced its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.01). The firm had revenue of $812.15 million during the quarter, compared to the consensus estimate of $786.74 million. AllianceBernstein had a net margin of 6.38% and a return on equity of 13.72%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 earnings per share. sell-side analysts anticipate that AllianceBernstein will post 2.13 EPS for the current fiscal year.

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About AllianceBernstein

AllianceBernstein Holding L.P. is engaged in providing research, investment management and related services to a range of clients through its three buy-side distribution channels: Institutions, Retail and Private Wealth Management, and its sell-side business, Bernstein Research Services. The Company offers a range of investment services, including equity strategies, with global and regional portfolios across capitalization ranges and investment strategies, including value, growth and equities; traditional and unconstrained fixed income strategies, including taxable and tax-exempt strategies; passive management, including index and enhanced index strategies; alternative investments, including hedge funds, fund of funds and private equity, and multi-asset solutions and services, including dynamic asset allocation, customized target-date funds and target-risk funds.

Analyst Recommendations for AllianceBernstein (NYSE:AB)

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