AllianceBernstein Holding L.P. (NYSE:AB) Given Consensus Rating of “Hold” by Brokerages

Shares of AllianceBernstein Holding L.P. (NYSE:AB) have received a consensus rating of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat Ratings 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 12 month target price among brokers that have updated their coverage on the stock in the last year is $41.8333.

A number of equities research analysts recently weighed in on the stock. Zacks Research cut shares of AllianceBernstein from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Evercore ISI raised their target price on shares of AllianceBernstein from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, December 5th. TD Cowen reissued a “hold” rating on shares of AllianceBernstein in a research report on Wednesday, January 14th. Barclays decreased their target price on shares of AllianceBernstein from $42.00 to $39.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. Finally, Sanford C. Bernstein reaffirmed a “negative” rating on shares of AllianceBernstein in a research note on Thursday, January 15th.

Institutional Trading of AllianceBernstein

Several hedge funds have recently made changes to their positions in the company. Fortis Capital Advisors LLC boosted its holdings in shares of AllianceBernstein by 3.6% in the fourth quarter. Fortis Capital Advisors LLC now owns 7,836 shares of the asset manager’s stock valued at $302,000 after acquiring an additional 272 shares in the last quarter. HighTower Advisors LLC lifted its position in AllianceBernstein by 0.8% in the third quarter. HighTower Advisors LLC now owns 32,841 shares of the asset manager’s stock valued at $1,255,000 after purchasing an additional 273 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in AllianceBernstein by 2.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 13,190 shares of the asset manager’s stock valued at $504,000 after purchasing an additional 289 shares in the last quarter. DAVENPORT & Co LLC increased its position in AllianceBernstein by 0.8% during the 2nd quarter. DAVENPORT & Co LLC now owns 37,022 shares of the asset manager’s stock worth $1,512,000 after purchasing an additional 300 shares during the period. Finally, Allworth Financial LP raised its stake in shares of AllianceBernstein by 4.5% during the 3rd quarter. Allworth Financial LP now owns 6,915 shares of the asset manager’s stock worth $264,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 19.25% of the company’s stock.

AllianceBernstein Trading Up 2.8%

AB stock opened at $42.46 on Friday. The company’s 50 day moving average is $40.09 and its two-hundred day moving average is $39.76. AllianceBernstein has a twelve month low of $32.28 and a twelve month high of $44.11. The stock has a market cap of $3.86 billion, a P/E ratio of 13.97, a PEG ratio of 1.19 and a beta of 0.86.

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.