AllianceBernstein (NYSE:AB) Stock Price Expected to Rise, TD Cowen Analyst Says

AllianceBernstein (NYSE:AB) had its target price hoisted by stock analysts at TD Cowen to $41.00 in a report issued on Wednesday, Stock Target Advisor reports. The firm currently has a “buy” rating on the asset manager’s stock. TD Cowen’s price objective indicates a potential upside of 11.44% from the company’s current price.

Several other brokerages have also issued reports on AB. The Goldman Sachs Group increased their target price on AllianceBernstein from $40.75 to $41.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Barclays raised their price objective on AllianceBernstein from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Finally, Evercore ISI upped their target price on shares of AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, AllianceBernstein has a consensus rating of “Moderate Buy” and a consensus target price of $43.40.

AllianceBernstein Price Performance

NYSE AB opened at $36.79 on Wednesday. The business’s 50-day moving average is $36.15 and its 200 day moving average is $34.60. The stock has a market capitalization of $4.24 billion, a PE ratio of 10.52, a PEG ratio of 0.83 and a beta of 1.23. AllianceBernstein has a 1 year low of $27.58 and a 1 year high of $38.96.

Insider Buying and Selling

In other news, insider Equitable Holdings, Inc. purchased 500,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was acquired at an average price of $34.18 per share, with a total value of $17,090,000.00. Following the purchase, the insider now owns 3,066,838 shares in the company, valued at $104,824,522.84. This represents a 19.48 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AllianceBernstein

Large investors have recently bought and sold shares of the business. US Bancorp DE raised its stake in AllianceBernstein by 12.3% during the 1st quarter. US Bancorp DE now owns 9,506 shares of the asset manager’s stock valued at $330,000 after purchasing an additional 1,040 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of AllianceBernstein by 13.1% in the 1st quarter. Osaic Holdings Inc. now owns 215,337 shares of the asset manager’s stock valued at $7,481,000 after purchasing an additional 24,951 shares in the last quarter. Epoch Investment Partners Inc. lifted its holdings in AllianceBernstein by 24.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 160,671 shares of the asset manager’s stock valued at $5,582,000 after purchasing an additional 31,399 shares during the last quarter. Aristides Capital LLC acquired a new position in AllianceBernstein in the first quarter valued at about $1,268,000. Finally, Virtu Financial LLC boosted its holdings in shares of AllianceBernstein by 103.4% in the 1st quarter. Virtu Financial LLC now owns 15,050 shares of the asset manager’s stock worth $523,000 after acquiring an additional 7,651 shares in the last quarter. 19.25% of the stock is currently owned by institutional investors.

About AllianceBernstein

AllianceBernstein Holding L.P. is a publicly owned investment manager. The firm is a related adviser The firm manages separate client focused portfolios for its clients. The firm primarily invests in common and preferred stocks, warrants and convertible securities, government and corporate fxed-income securities, commodities, currencies, real estate-related assets and infation-protected securities.