AllianceBernstein Holding L.P. (NYSE:AB) Receives $42.40 Consensus PT from Brokerages

AllianceBernstein Holding L.P. (NYSE:AB) has received an average recommendation of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $42.40.

AB has been the topic of several recent research reports. Barclays decreased their price target on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. The Goldman Sachs Group increased their price objective on shares of AllianceBernstein from $40.75 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Evercore ISI increased their price objective on shares of AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th.

Hedge Funds Weigh In On AllianceBernstein

Institutional investors have recently bought and sold shares of the stock. NBC Securities Inc. grew its stake in AllianceBernstein by 80.8% during the third quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 329 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of AllianceBernstein in the 3rd quarter worth $31,000. FSA Wealth Management LLC purchased a new position in shares of AllianceBernstein in the 3rd quarter worth $36,000. Luken Investment Analytics LLC purchased a new position in shares of AllianceBernstein in the 4th quarter worth $37,000. Finally, Farther Finance Advisors LLC grew its stake in shares of AllianceBernstein by 115.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager’s stock worth $50,000 after buying an additional 764 shares in the last quarter. 19.25% of the stock is owned by hedge funds and other institutional investors.

AllianceBernstein Trading Up 0.6 %

AB opened at $40.21 on Friday. AllianceBernstein has a 1-year low of $30.57 and a 1-year high of $40.86. The company has a market capitalization of $4.63 billion, a PE ratio of 11.52, a PEG ratio of 0.81 and a beta of 1.20. The firm’s 50 day simple moving average is $36.86 and its two-hundred day simple moving average is $35.77.

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.